Shiba Inu has finally rolled out its SHIB Name Service (SNS) on its Shibarium Layer-2 network, as part of the project's push to leave its meme coin status at the kennel.
The SNS allows users to replace the typically complex blockchain addresses with straightforward, easily remembered domain names, Tuesday's announcement read.
Ethereum Name Service is a similar offering for the wider Ethereum community, swapping complicated strings of numbers and letters for human-readable names as crypto addresses.
Instead of ENS' ".eth" ending, though, interested parties can secure their ".SHIB" domain through name.shib.io for a fee in Bone ShibaSwap (BONE) tokens. BONE tokens let holders vote on any changes they'd like to see to the Shibarium layer-2 network and are also used to pay transaction fees.
Shiba Inu’s lead developer, Shytoshi Kusama, also introduced a new encrypted peer-to-peer messaging system, to improve user interactions on the Shibarium platform.
SNS and the messaging system are two prongs of a wider decentralized identity scheme first teased by the project's developers back in August.
The name of the scheme? SHIBDentity.
In a nutshell, and similar to other decentralized identity plays, SHIB is looking to develop a broad-spectrum identity protocol that lets internauts guard their identity against theft.
It hopes to help keep your digital identity safe. Or, at least, that's the promise.
The developers also claim that their take on decentralized identity also adheres to the World Wide Web Consortium standards, adding that even SHIBDentity itself is just one small step to the team's "grander vision" of a so-called super app called "The Hub."
So far, though, the market's reaction has been underwhelming, with SHIB adding just 0.5% since the news broke. It's now trading at $0.00000802.
Source : Decrypt by Decrypt AI, Edited by Liam Kelly / November 02, 2023