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Shiba Inu, SHIB

Shiba Inu 72-Hour Countdown Goes Live, What Is It For?

Godspower Owie
by Godspower Owie
1 year ago
·
Posted in Shiba Inu
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Recently reports have revealed that the Shiba Inu 72-hour countdown toward its unique self-custodial identity for SHIB has gone live. This step taken by the Shiba Inu (SHIB) development team marks a forthcoming milestone for the Shiba Inu ecosystem.

Shiba Inu’s Unique Self-Custodial Identity For SHIB

On Saturday, October 28, Shiba Inu announced that its highly anticipated unique self-custodial identity for SHIB is underway, highlighting a 72-hour countdown before the project goes live. The announcement follows the launch of Shibarium, a layer 2 scaling solution for the SHIB cryptocurrency.

Related Reading: Shiba Inu Marketing Lead Clarifies Why Shibarium Doesn’t Burn SHIB

According to the announcement, the self-custodial identity initiative will be a “game changer” that will bring forth “a seismic shift in the blockchain world.”

In addition, Shiba Inu developer Kaal Dhairya also took to his X (formerly Twitter) handle to point out that the self-custodial identity in the Shiba Inu ecosystem is on its way. “First step towards your self-custodial identity is coming,” the post read.

The announcement stirred up the large and devoted “Shib Army,” and also resulted in an immediate bullish trend for the SHIB token, which saw the price of SHIB facing an upward trajectory.

The post read:

Attention, Shib Army! We all love a good surprise, and yours is on the horizon – the very first step to unlock your unique Shib identity is just 72 hours away!.

SHIB Shiba Inu
Shiba Inu currently traded at $0.000008 | Source: Tradingview.com

The introduction of the Shiba Inu self-custodial identity project might have multiple impacts on the price of SHIB. First of all, it might make the SHIB ecosystem more alluring by offering users a great deal of control over their personal data.

Related Reading: Shiba Inu Sees Over 2,000% Rise In Whale Appetite Amid Crypto Market Price Boom

In addition, the initiative could lead to a rise in demand for the SHIB tokens from investors who are confident in the project’s long-term potential and further create new opportunities for Shiba Inu, such as utilizing SHIB for identity verification in online services.

So far, the complete details of the project still remain undisclosed, but the excitement and anticipation by the Shib Army toward the forthcoming self-custodial identity initiative are tangible. However, on Wednesday, November 1, 2023, comprehensive guidelines outlining the primary steps users need to take to acquire their distinct SHIB identity will be made available.

SHIB Inu Adopts Self Sovereign Identity (SSI) System

Earlier this year, the leading developers of the project notified the cryptocurrency world that all Shibu Inu projects would integrate Self Sovereign Identity (SSI) – a blockchain-based identity system.

The SSI represents a user-possessed and controlled digital identity. It ensures users’ complete control over their identity, its validation, and its uses, unlike typical centralized identity systems where personal data is kept with institutions or platforms.

Despite the blockchain-based identity system is not a new idea, it is slowly gaining acceptance in the blockchain field. The integration of the SSI into all the Shiba Inu projects indicates a progressive strategy, as it not only highlights the importance of user data security and privacy but presents a world in which individuals have full control over their digital identities. 

Featured image from DevianArt, chart by Tradingview.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Godspower Owie

Godspower Owie

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Godspower Owie is my name, and I work for the news platforms NewsBTC and Bitcoinist. I sometimes like to think of myself as an explorer since I enjoy exploring new places, learning new things, especially valuable ones, and meeting new people who have an impact on my life, no matter how small. I value my family, friends, career, and time. Really, those are most likely the most significant aspects of every person's existence. Not illusions, but dreams are what I pursue.

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