Shiba Inu Team and D3 Partner to Create “.shib” Internet Domain to Bridge Web2 and Web3
Summary:
The creators of the Shiba Inu (SHIB) memecoin are seeking to acquire a “.shib” domain through a partnership with internet domain company D3. The proposed domain will bridge Web2 and Web3, allowing SHIB owners to create emails ending in ".shib", bridging the gap between commonly used internet resources and Web3 tools. D3 also plans to implement "name tokens" to simplify digital asset transfers. Despite the announcement, SHIB's market price remained largely unaffected.
The creators of the dog-inspired memecoin Shiba Inu (SHIB) are set to stake a claim for a “.shib” domain, which would operate within the internet's Domain Name System (DNS). In an announcement made on Dec. 19, internet domain company D3 disclosed that it is collaborating with the Shiba Inu team to secure the top-level domain (TLD). As a specialist in next-generation domain names, D3 focuses on fostering interoperability between Web2 and Web3.
Current Web3 domains like “.crypto” and “.eth”, as shared by D3’s official website, cannot operate smoothly with widely used internet resources such as browsers and email since they are not compatible with the DNS. Alternatively, Web2 domains, like “.com” and “.net”, are DNS compatible but can't natively work with Web3 tools such as wallets and digital identifier solutions. If the request is sanctioned, it would grant Shiba Inu (SHIB) memecoin owners the capability to craft email addresses that end in ".shib". This proposed domain would be suited for use with standard email clients, according to D3.
In order to attain this, D3 will need to submit an application to the Internet Corporation for Assigned Names and Numbers (ICANN), an US-based non-profit entity tasked with formulating and implementing regulations surrounding internet identifiers. The company also has plans to unfold "name tokens” for SHIB users, facilitating the transfer of digital assets across varying blockchains without requiring lengthier, alphanumeric wallet addresses.
Despite this development, SHIB's market price was unfazed, showing a less than 1% drop following D3's announcement, as reported by CoinGecko. As a side note, Shiba Inu's recently launched Layer 2 blockchain, the Shibarium network, reached an impressive 1 million users by September. The blockchain, currently in "private" mode, is expected to transition to public access in the near future, as articulated by the Shiba Inu team.
Published At
12/20/2023 8:08:46 AM
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