Reason to trust
How Our News is Made
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Ad discliamer
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
The newly launched SHIB self-authentication system, Shibdentity, has witnessed some technical issues. Kaal Dhairya, a Shiba Inu developer, revealed this today, November 7. As part of their efforts to make the Shib Ecosystem self-sufficient, the developers also introduced The Shib Magazine.
Shiba Inu Developers Launches The Shib Magazine
The Shiba Inu developers recently launched Shib Name Service (SNS) on its layer-2 network, Shibarium. The Shib Name Service aims to introduce the Shibdentity, a self-custodial identity system for the SHIB ecosystem
The product aims to make the ecosystem sufficiently decentralized so users wouldn’t have to depend on third-party platforms. Shibdentity creates a decentralized identity platform, enhancing security and user experience and eliminating censorship so that users can control their digital identities.
As stated in an October 31 disclosure, the launch of the SNS marks a milestone for Shiba Inu. The team described the newly launched feature as a disruptor introducing something special and human-readable addresses to the ecosystem.
It allows users to self-manage their Shibarium addresses without third-party interference. They can quickly transfer tokens to others using unique initials.
Meanwhile, the SHIB self-authentication system Shibdentity, launched on November 1, developed some technical issues. The developer has yet to reveal the reason behind the technical glitch. However, the issue may be due to overwhelming traffic on the system.
Dhairya noted that the developer team is working to resolve the issues and have things back to normal as soon as possible.
“The newly launched self-custodial authentication system as part of the Shib Magazine is having technical issues for some users. We are working towards fixing this as soon as possible,” the developer said.
Shiba Inu Developers Launches The Shib Magazine For Timely Ecosystem Updates
The Shib Magazine aims to furnish the community with updates regarding Shib Inu products and services, including the layer-2 network Shibarium. In addition, the newly launched magazine will also report on the latest interviews with top cryptocurrency industry experts.
This will ensure the community members remain up-to-date on happenings around the ecosystem and the broader crypto market. Moreover, when fully up and running, the magazine will promote a timely update of trending tokens and upcoming Shibarium features.
According to reports, the first 1,000 readers will receive an NFT of the magazine cover for free. The SHIB Doggy DAO Foundation sponsors this effort.
More Updates On Shibarium Progressive Strides
Shibarium has proven successful since its launch in late August, covering significant milestones in the subsequent months. On October 18, the layer-2 network exceeded 3.5 million in total transactions, with over 1.2 million blocks in less than two months post-launch. Currently, Shibarium boasts a total of 3.8 million transactions and over 1.5 blocks.
Related Reading: Chainlink Enters Bull Territory, Signals Long-Term Uptrend — Crypto Expert
There was a popular notion that the launch of Shibarium would boost Shiba Inu’s price by facilitating token burns, lowering transaction costs, and increasing speed. However, within the launch period, Shiba Inu recorded a considerable price decline, even when most tokens soared.
But recently, Shiba Inu has posted notable strides, recording over 15% 30-day price increases and a nearly 6% gain in the last seven days. Over the past 24 hours, SHIB price has increased over 2% and trades at $0.0000081.
