In an unprecedented step for Web3 protocols, Shiba Inu has announced its plans to apply for a top-level domain (TLD) in partnership with D3 Global, a seasoned domain company. This move marks Shiba Inu as the first Web3 protocol to obtain its own TLD, a segment of domain names like .com and .net, vital for establishing a unique digital identity across both Web2 and Web3 platforms.
To realize this ambitious project, Shiba Inu, trading at $0.00001028, has joined forces with D3 Global, led by industry veterans Fred Hsu and Shayan Rostam. This collaboration aims to introduce .shib name tokens, enhancing users’ access to Web3 benefits such as improved security, privacy, and interoperability. Fred Hsu, CEO of D3 Global, highlighted the immense potential of this digital identity in unlocking new opportunities.
Obtaining a TLD is challenging and lengthy, necessitating approval from the Internet Corporation for Assigned Names and Numbers (ICANN). Unlike other Web3 protocols that have generated their domain names, such as .eth, these are not TLDs and do not resolve natively in all web browsers. If successful, Shiba Inu’s application with ICANN will mark a significant milestone in integrating Web3 into the global domain name system.
In another noteworthy development, Shibarium, Shiba Inu’s layer-2 scaling solution, has achieved a record 130 million inscriptions, outpacing competitors while maintaining low transaction costs. As stated by Shiba Inu developer Kaal Dhairya, this achievement highlights Shibarium’s efficiency and growth rate in the blockchain space. With an upcoming hard fork aimed at increasing transaction speed beyond its current rate of 200 transactions per second, Shibarium is set to solidify its market position further.
Shiba Inu’s initiative to secure a TLD represents a major step towards bridging the gap between Web2 and Web3. This endeavor, coupled with the remarkable growth of Shibarium, positions Shiba Inu at the forefront of technological innovation in the blockchain domain. As the industry watches, the success of these ventures could pave the way for a new era of digital identity and blockchain efficiency.
