The “Game-Changing” announcement that the Shiba Inu (SHIB) lead developer Shytoshi Kusama had promised to make this week has finally been made known. This big revelation is believed by many to be a major step in decentralizing the internet.
Shiba Inu Announces Plan To Acquire A Top-Level Domain
In a post on its official X (formerly Twitter) platform, Shiba Inu announced its plans to become the “first decentralized Web3 ecosystem” to acquire its Top-level Domain. According to them, this marks a “major shift in internet decentralization.” This endeavor is going to be carried out in partnership with D3inc.
D3inc also confirmed this development on their X platform as they said they are partnering with Shiba Inu to “apply for and obtain the .shib Top-Level Domain (TLD).” D3inc is specifically known to register and trade interoperable Web3 domain names which boast Web2 and Web3 functionality.
Although he didn’t specifically put out any statement about this announcement on his X platform, Kusama somehow confirmed that this was the “game-changing” announcement he had built anticipation towards. He had previously mentioned that the announcement was going to be a “world’s first,” which also confirms that it is indeed the announcement.
Before the Shiba Inu and D3inc’s X platforms made the big revelation, Kusama had stated that to understand why the announcement was important, one must ask what the promise of Web3 is.
SHIB price still holding above $0.00001 | Source: SHIBUSD on Tradingview.com
Why The Announcement Is Significant
D3inc provided some insights into why this announcement may, however, be more significant than some consider it to be. On their website, they highlighted the incompatibility of Web3 names, like ‘.crypto’ and ‘.eth’, with critical internet tools like web browsers and email because they don’t operate on the Domain Name System (DNS).
On the other hand, well-known Web2 TLDs like ‘.com’ and ‘.net’ are said to operate on the DNS but are incompatible with Web3 tools like wallets and digital identity. As such, the proposed ‘.shib’ TLD will automatically be a game-changer as it would have the native support of Web2 and Web3 tools. Simply put, Shiba Inu will be bridging the gap between both divides of the web.
This also seems to form a major part of Shiba Inu’s roadmap, as laid down in the ‘Shib Paper.’ In an X post, Shiba Inu developer Kaal Dhairya urged community members to support the cause as they aim to decentralize the internet and make SHIB the “operating system of the future internet.”
SHIB has, however, not responded positively to this announcement. At the time of writing, the meme coin is trading at around $0.00001019, down over 2% in the last 24 hours, according to data from CoinMarketCap.
Featured image from Coingape, chart from Tradingview.com