Shibarium will have the Shib naming service

Shibarium’s Level 2 (L2) blockchain will feature the Shib Name Service (SNS). The new addresses can be used not only in the Shiba ecosystem.

Using the service, users will be able to create easy-to-remember addresses for wallets. About it told Shiba Inu team lead developer Shitoshi Kusama.

What’s the point

IN blog Kusama wrote that the name service is the first step towards creating Shibdentity, a decentralized identity platform. It is expected that the platform will provide users with the opportunity to own and control their digital identities.

SNS offers “human-readable addresses” instead of long strings of letters and numbers. So, in the Shibarium blockchain, the conditional Ivan will be able to create a wallet with the address “ivan.shib”, and not use a combination like “0xCD4C5…”.

Kusama listed the following advantages:

• ease of remembering;
• decentralization;
• the ability to use addresses not only with Shib ecosystem tokens, but also with other cryptocurrencies;
• safety;
• minimum errors.

The developer emphasized that Shibdentity is aimed at empowering users. The platform is also fully compliant with World Wide Web Consortium (W3C) standards.

The number of Shibarium users exceeded 1 million

The Shibarium blockchain was released on the mainnet on August 16 this year. However, a few hours later, the project team encountered a problem – 956 ETH worth about $1.7 million was stuck in the Shibarium bridge smart contract at the time of the incident. The developers declared an emergency mode, but the next day the production of blocks on the network resumed.

Shibarium positions itself as a scalable, fast and low-cost solution for decentralized applications (dApps). Blockchain is most popular in the metaverse and gaming sector. The network was expected to help the Shiba Inu ecosystem reduce transaction costs and increase speed.

By the beginning of September, the number of wallets on the blockchain reached 1 million. According to Shibarium Scanthe current figure is 1.2 million. The number of daily transactions is almost 14 thousand.