Shiba Inu Wants ‘.shib’ Web Address to Connect Web2 and Web3

Shiba Inu (SHIB)

As the year comes to a close, many cryptocurrency projects are wrapping up with positive news, revealing exciting developments just before 2024 begins.

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The Shiba Inu team is asking for permission to use a “.shib” domain, with the goal of connecting traditional Web2 and advanced Web3 technologies. If this gets approved, people holding SHIB tokens could make easy-to-use email addresses ending in “.shib”. Also, D3 is thinking of bringing in “name tokens” for SHIB users to make moving digital assets between different blockchains simpler.

Diverse Crypto Developments Unveiled

In recent strides within the crypto space, Immutable has unveiled the “Immutable Passport” to enhance user experiences in Web3 games, gaining support from various popular apps already integrated into the system.

Meanwhile, Alchemy Pay has joined forces with Worldpay to facilitate traditional payment methods for crypto purchases. This collaboration aims to strengthen the connection between conventional finance and the evolving digital asset ecosystem.

In a separate revelation, Michael Saylor, a prominent figure in the crypto sphere, has expressed that the approval of a spot Bitcoin ETF could be a transformative moment for Wall Street. He suggests that this development might even rival the significance of the establishment of the S&P index in the early 1990s. These diverse developments showcase the ongoing evolution and integration of cryptocurrency across various sectors.

Shiba Inu (SHIB) Ventures into Web3 Integration with “.shib” Domain

The team behind the Shiba Inu (SHIB) meme coin is making significant strides by applying for a “.shib” domain through D3, a domain firm, in a bid to bridge the gap between Web2 and Web3 technologies.

Web3, often linked with blockchain and decentralized applications (dApps), has introduced unique domain extensions like “.crypto” and “.eth.” However, these extensions face integration challenges with widely used internet tools such as web browsers and email due to non-standardized DNS operations.

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On the other hand, Web2 domains like “.com” and “.net” operate within the established DNS framework but lack native compatibility with Web3 tools like cryptocurrency wallets and digital identity solutions. The application for the “.shib” domain represents a significant move towards closing this gap. If approved, SHIB token holders could create email addresses with a “.shib” suffix that seamlessly integrates with conventional email applications, ensuring a user-friendly experience.

This initiative goes beyond email addresses, as D3 plans to introduce “name tokens” for SHIB users. These tokens aim to simplify the process of sending digital assets across various blockchains without the complexity of using lengthy wallet addresses. It’s crucial to note that while the application for the “.shib” domain is pending approval, regulatory considerations may also play a role in shaping the future of this integration.

Diverse Crypto Innovations as Year End Approaches

As the year draws to a close, Shiba Inu’s domain announcement is just one of the exciting developments in the crypto space. Immutable, a prominent Web3 game publisher, has unveiled its latest wallet infrastructure called “Immutable Passport” on December 19. This new system is designed to enhance the user experience by offering multiple login options. Users can now create and recover wallets using their Google or Apple accounts, or through a traditional email address.

The adoption of Immutable Passport has already gained momentum, with five popular games and apps integrating this system. Notable titles like Gods Unchained, Blocklete Golf, B/R Watch 2 Earn, TokenTrove, and AtomicHub have collectively attracted over 500,000 users. A key feature accompanying this launch is a user-friendly dashboard, acting as a centralized hub for players. This dashboard facilitates various functionalities, enabling users to discover new games, manage in-game items, link third-party wallets, and add funds effortlessly.

Immutable’s Passport isn’t the sole festive season development for the company. In earlier December, Transak was integrated as a payment option for its games. Furthermore, on December 13, Immutable announced its plans to introduce a gas-free transaction option for its zkEVM platform in 2024, showcasing a commitment to ongoing innovation.

Alchemy Pay and Worldpay Join Forces for Crypto-Fiat Integration

Singaporean fintech firm Alchemy Pay has recently unveiled a strategic partnership with the United Kingdom-based payment processor, Worldpay. The collaboration, announced on December 19, is set to empower Alchemy Pay users with access to Worldpay’s Visa and Mastercard payment channels. This means users can now use their credit and debit cards to seamlessly purchase cryptocurrencies. The primary aim of this partnership is to bridge the gap between traditional finance and the burgeoning digital asset ecosystem by allowing users to leverage familiar payment methods for crypto transactions.

Expressing his enthusiasm about the collaboration, Robert McCracken, Alchemy’s ecosystem lead, highlighted how this partnership positions Alchemy Pay to facilitate smooth cryptocurrency transactions globally. Nabil Manji, the head of crypto and Web3 at Worldpay, echoed these sentiments, emphasizing the alignment of Alchemy Pay’s mission with Worldpay’s role in promoting financial integration between conventional and digital domains. Worldpay has been actively involved in integrating with Web3 technologies, evident from its previous collaborations with Okcoin in July 2021 and the launch of a new payment engine for merchants in October 2022, where Checkout.com and Worldpay served as pilot partners.

Michael Saylor Predicts Game-Changing Impact of Bitcoin ETF Approval

In the realm of crypto developments, Bitcoin ETFs are a recurring topic, and prominent Bitcoin advocate Michael Saylor has recently made a noteworthy prediction regarding the potential approval of a spot Bitcoin (BTC) exchange-traded fund (ETF). Speaking in an interview with Bloomberg on December 19, Saylor expressed his belief that such approval could mark the most significant development on Wall Street since the early 1990s, potentially rivaling the creation of the S&P index.

According to Saylor, a spot Bitcoin ETF approval would serve as a crucial gateway for mainstream retail and institutional investors, providing them with a more accessible channel to invest in Bitcoin. He anticipates that this approval could act as a catalyst for a surge in demand, leading to a subsequent “supply shock” in April, coinciding with the Bitcoin halving. Saylor’s bold prediction underlines the potential transformative impact a Bitcoin ETF could have on the broader financial landscape.


Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

 

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