Shiba Inu Announces Partnership With D3 Global, Price Plunges
December 20 2023 - 5:22AM
NEWSBTC
Amid the current bearish sentiment around the cryptocurrency
market, the popular Ethereum-based meme coin Shiba Inu has taken a
positive step by partnering with internet domain company D3 Global.
Significance Of Shiba Inu’s Partnership With D3 Global The team
revealed its partnership with the internet domain name company in
its latest version of the SHIB magazine. The latest magazine is now
the seventh version that has been released since it was introduced.
D3 Global is a domain company that focuses on bridging the gaps
between the web2 and web3 ecosystem which is overseen by Fred Hsu
and Shayan Rostam. Related Reading: Shiba Inu Team Unveils Enhanced
SHIB And BONE Burns, What This Means Rostam asserted that
partnering with Shiba Inu will allow the introduction of unique,
memorable, and affordable domain names to users. Additionally, it
will make use of Web3 utility on the internet’s base layer to
streamline their digital identities. The latest partnership is a
part of Shiba Inu’s broader endeavor toward a decentralized
identification project. Shiba Inu is seeking to establish a
decentralized internet top-level domain (TLD) name for its users.
The collaboration aims to safeguard the “.shib” TLD name. A TLD is
the last element of a web address that appears after the dot such
as “.com,” “.org,” or “.net.” The TLD will enable SHIB users
to register their .shib names which may be resolved through the
global Domain Name System (DNS). It will also allow its users to
have a digital identity compatible with Web2 and Web3 applications.
The “.shib” domain seeks to offer seamless compatibility with both
the traditional Web3 technologies and the modern internet’s Domain
Name System (DNS). This is unlike the current web3 names which are
incompatible natively with essential internet technologies like
email and web browsers. With this initiative, SHIB users may have
more functionality and be able to utilize their domain with regular
web browsers. Additionally, it could also improve their blockchain
transactions and digital identity. Process Of Acquiring A New TLD
Being a major player in the internet domain industry, D3 is an
expert in the administration and use of top-level domains. Their
specialty is maneuvering through the difficult procedure of
obtaining and configuring new TLDs. The procedure of getting a TLD
is not that simple or quick. It needs to be approved by ICANN,
which is the result of a difficult and extensive application
procedure. Related Reading: Shiba Inu Faces Make Or A Point
As Analyst Identifies Critical Trading Pattern In addition, the
community must be involved and supportive of the initiative. This
is because ICANN takes the public interest and possible effects of
a new TLD into account. Despite the notable partnership, the SHIB
token is still down by over 2% in the past 24 hours, trading at
$0.000010. Its market capitalization is down by over 2%, while its
trading volume is down by over 30%, according to CoinMarketCap. So
far, the lead developer of Shiba Inu, Shytoshi Kusama has expressed
the team’s pleasure in the collaboration. “We are extremely proud
to once again trailblaze decentralization in world history,” Kusama
stated. Featured image from iStock, chart from Tradingview.com
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