The team responsible for the popular dog-themed meme cryptocurrency, Shiba Inu, has taken a significant step towards enhancing its online presence by applying for a ” .shib” domain name within the internet’s domain name system (DNS).
In a tweet shared on December 19th, D3, an internet domain company specializing in next-generation domains that facilitate interoperability between Web2 and Web3, disclosed its collaboration with @ShibToken to pursue and secure the “.shib” Top-Level Domain (TLD).
Current Web3 domain names, such as “.crypto” and “.eth,” face compatibility challenges with widely used internet tools like web browsers and email due to their lack of integration with the DNS.
In contrast, Web2 domains like “.com” and “.net” function seamlessly within the DNS but are not inherently compatible with Web3 tools like cryptocurrency wallets and digital identity solutions.
If the application is successful, holders of Shiba Inu’s meme cryptocurrency would gain the ability to establish email addresses featuring the “.shib” extension, ensuring compatibility with standard email applications, as outlined by D3.
READ MORE: Tether Takes Proactive Measures to Combat Illicit Use, Aids Law Enforcement
The next step for D3 involves submitting an application to the Internet Corporation for Assigned Names and Numbers (ICANN), a non-profit organization based in the United States responsible for establishing and enforcing policies governing the internet’s identifiers.
Additionally, D3 plans to introduce “name tokens” designed for SHIB users, simplifying the process of sending digital assets across various blockchains by eliminating the need for lengthy alphanumeric wallet addresses.
Interestingly, the news of this development did not significantly impact the price of SHIB, with the cryptocurrency experiencing only a minor decrease of less than 1% following D3’s announcement, according to CoinGecko data.
In a separate update, Shiba Inu unveiled its new layer-2 blockchain, known as the Shibarium network, which boasted 1 million users as of September.
Although the blockchain remains in a private mode, the Shiba Inu team has expressed its intention to make it publicly accessible in the coming months, potentially ushering in new possibilities for the Shiba Inu ecosystem.
Discover the Crypto Intelligence Blockchain Council
