A encrypted message sent by Shytoshi Kusama on Telegram recently ignited the Shiba community. However, the mystery was lifted once the Shib Name Service was announced on October 31. This is a “ decentralized service which helps users convert their Shibarium wallets to readable addresses “. Details !
Shiba innovates with SNS!
What was presented as a simple promise of major transformation in the Shibarium ecosystem will now take shape. At the end of September, the Shiba Inu team spoke of a “ latest addition » which bears the name of Shibarium ID : which is supposed to unlock .shib domains and grant a digital identity based on Shiba Inu’s layer 2 Ethereum.
“ This is not a sleight of hand, but the first in a long series of surprises. »
In an article published on the official website of Shiba, Kusama provided extensive explanations on the Shib Name Service.
“ You will no longer have to navigate the complex addresses of the Shibarium. Instead, you can send tokens to your friends and contacts using their unique Shib names. For example, you can send tokens to ‘bob.shib’ instead of a long and confusing wallet address like 0xCD4C526E9981d690472d1cB85F2ddf08451C4673. Interesting, right? »
What are the advantages of SNS ? Among others we will cite:
- readability, this will involve converting complex addresses into simple names that are easy to remember (the equivalent of Ethereum Name Service or ENS?);
- decentralized and autonomous, knowing that the SNS is deployed on the Shibarium blockchain;
- extensible, Shib Name Services can accommodate other cryptocurrencies and decentralized websites;
- secure, due to its construction on Shibarium, a high security platform;
- fewer errors, since the SNS promises easily readable addresses;
- interoperability, knowing that it advocates transparency with other Shibarium services and applications;
- resistance to censorship, because it is recorded on a decentralized platform;
- etc.
“ Shibdentity is more than a clever play on words; it represents a paradigm shift in the world of decentralized identity solutions. At its core, Shibdentity aims to empower individuals by giving them control over their digital identities. It achieves this by offering autonomous authentication, decentralized verifiable credentials, smart wallets and adherence to W3C standards for autonomous identity », Continues Shytoshi Kusama.
What future for SHIB?
Shytoshi Kusama’s announcement did not have a direct impact on the price of SHIB. At the time of writing, it was trading at $0.000.007.76. CoinTurk also revealed that it reached $0.000008 at the start of the day.
This Turkish crypto media outlet also explained that SHIB daily charts highlight an accumulation of Shiba Inu cryptos at the level of spot traders. In such circumstances, i.e. in the presence of overbought pressure, the thesis of a bull run for the “Dogekiller”.
A thesis which corroborates with the prediction of a SHIB which will eliminate an additional zero in the near future.
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