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The team behind the dog-themed memecoin Shiba Inu has recently applied for a unique domain extension called ".shib." This new domain, which operates on the internet's domain name system (DNS), aims to enhance the interoperability between Web2 and Web3 technologies.
The partnership between the Shiba Inu team and domain firm D3 brings forth exciting possibilities for the memecoin's holders and users, as per Cointelegraph.
Bridging the Gap Between Web3 and Web2
D3, a specialized internet domain firm focused on next-generation domains, plans to enable seamless interoperability between Web3 and Web2, according to Binance.com. Traditional Web2 domains like ".com" and ".net" work within the DNS infrastructure but lack native compatibility with Web3 tools, such as wallets and digital identity solutions.
On the other hand, current Web3 names like ".crypto" and ".eth" do not natively function with commonly used internet tools like web browsers and email due to their distinct operational framework.
The Purpose of the ".shib" Domain
By securing the ".shib" Top-Level Domain (TLD), Shiba Inu memecoin holders can create email addresses with the suffix attached. This extension seamlessly integrates with ordinary email applications, streamlining communication for Shiba Inu's vibrant community. This innovative progression bridges the gap between traditional internet tools and new-age blockchain-powered solutions.
Revolutionizing Digital Asset Transactions
In addition to the domain application, D3 plans to introduce "name tokens" for Shiba Inu (SHIB) users. These tokens will facilitate smooth and secure transactions of digital assets across various blockchains without the need for lengthy alphanumeric wallet addresses. This innovation promises to streamline user experiences and simplify the complexities associated with blockchain transactions.
The announcement of the ".shib" domain application has yet to significantly impact SHIB's price, as data from CoinGecko indicates a minor decrease of less than 1% since the news emerged. However, this milestone signifies the Shiba Inu team's commitment to advancing their ecosystem and creating tangible value for their vast user base.
Shibarium Network Update
Aside from this exciting domain development, Shiba Inu's layer-2 blockchain, Shibarium network, has recently achieved a significant milestone. With 1 million users onboarded in September, the private-mode blockchain shows excellent potential for public launch in the coming months. Shiba Inu's continued growth and expansion demonstrate the team's dedication to fostering a robust and inclusive blockchain ecosystem.
Photo: Traxer/Unsplash
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