Kusama Unveils 'First Of Many Treats' For Shib Army, Launching 'New Era On Shibarium'

The "new era on Shibarium" has officially begun with Shytoshi Kusama's official launch of the "first of the many treats" for the Shib Army, which is the Shib Name Service (SNS).

Described as a "disruptor" and the "first step towards building Shibdentity," the Shib Name Service offers "human-readable addresses," simplifying users' experience in navigating Shiba Inu's layer-2 scalability solution, Shibarium.

In addition to launching the Shib Name Service, Kusama, the pseudonymous lead developer of the Shiba Ecosystem, also emphasized that "SNS and Shibdentity are not standalone projects" but are "integral parts of our grander vision: The HUB."

The HUB, announced during the Blockchain Futurist Conference 2023 in Canada in August, is a super app founded on the framework of Shibdentity.

Kusama underlined that the HUB is like an ecosystem where decentralized applications are interoperable and thrive with the user's identity as the key to gaining access to a multitude of available services.

"The HUB will serve as a central point, enabling a seamless, interconnected experience, all while ensuring you have proper control over your data, identity, and assets," Kusama said.

Unfortunately, the actual domain launch is scheduled for Q1 2024, and what is available right now is an "IOU for reserving your domains."

"It's step by step. Shibarium holds immense potential," Shiba Ecosystem and Shibarium Tech marketing specialist, who uses the handle @LucieSHIB, told the International Business Times. She added, "Every transaction on Ethereum now costs crazy gas fees, but on Shibarium, I only need 1.5 Bone for 3-5 transactions, including minting. Each feature holds meaning and boosts Shib's confidence."

SHIB was trading at $0.000007737, with a 24-hour trading volume up by 19% at $152.74 million as of 2:47 p.m. ET on Tuesday, representing a 2.54% decrease in the last 24 hours and a 4.6% gain over the past seven days.

SHIB's total circulating supply stands at 589.35 trillion SHIB, with its value down by 2.54% at a market cap of $4.55 billion, according to the latest data from CoinMarketCap.

The new Shiba Inu service not only offers the utmost convenience in sending tokens because the recipient's address is easy to recall, reducing errors in sending crypto to the wrong address. It also works with other crypto assets and decentralized websites, paving the way for a whole new level of innovation in the blockchain.

But is it safe and secure?

In the blog titled "Defining the Future of Shibdentity: Introducing Shib Name Service," Kusama explained that Shib Name Service operates on the Shibarium blockchain, which means there is no central control.

The service is built on top of the Shibarium platform and "inherits" the L2's "robust security features," ensuring that users' transactions are "protected."