Shytoshi Kusama, Shiba Inu’s lead developer, propelled immense optimism for the Shiba Inu cryptocurrency across the broader crypto market on Wednesday following the revelation of significant project development plans fostered by the meme coin’s crypto community. As per Kusama’s most recent post on the social media platform X, the community now embarks on curating a “network state” to revolutionise Web2 and Web3 reinforcement collectively.

Meanwhile, with the announcement coming into light today, the SHIB price also appears to have noted a prompt jump. However, at the time of writing, the SHIB price dipped marginally, birthing additional inferences for the meme coin.

Kusama Spotlights Collaboration With D3 Inc.

According to Kusama’s recent statement, the Shiba crypto community is functioning alongside the D3 Inc, a domain company, to invade the internet by applying for a “.SHIB” TLD (Top Level Domain). Notably, with this, the commune eyes tapping into the fashionable Web2 infrastructure, leveraging its worldwide popularity.

Aligning with this, Kusama also highlighted the phenomenal surge in internet users over the last year, slimming contrasts with overall users within the crypto market. Concerning this, the SHIB commune now gazes the establishment of a domain that works natively with critical internet tools, including web browsers and emails, fueling noteworthy optimism for the SHIB token. Simultaneously, the Shiba crypto community advances further by jacking up the SHIB tokenomics with its new domain-building saga.

In addition, the SHIB lead developer stresses how users predominantly use domains even when navigating across the realm of Web3. In conjunction with this, Kusama garnered attention to a potential “.SHIB” domain, sparking immense curiosity among relevant industries.

Moreover, once the project commences successfully, users will be able to use the .SHIB domain for a variety of purposes, encompassing hosting a website, blog, online stores, and sending and receiving emails, among many others.

Meanwhile, at present, Web3 names like .crypto and .eth are incapacitated with Web2 internet tools as they operate independently, without the DNS ( Domain Name System). However, with the .SHIB domain coming into play, the Shiba commune is all set to emerge as the first ecosystem to bridge Web2 and Web3 interoperability with DNS.

Also read: 5 Altcoins To Watch After Fake Bitcoin ETF News, Based On On-Chain Data

Shiba Inu Price: Report

As of writing, the Shiba Inu price showcased a marginal drop of 0.85% over the past 24 hours and is currently trading at $0.000009432. However, its price today traded majorly in the green, recording a dip recently.

Intriguingly, the token’s 24-hour trading volume also surged remarkably, portraying a 67.8% rise, reaching $299.38 million.

Also Read: XRP Community Fires Back At SEC’s Gary Gensler Amid Spot Bitcoin ETF Drama

The post Shytoshi Kusama Unveils .SHIB Domain To Boost Web3 Interoperability appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am