The Shiba Inu’s 72-hour countdown to obtaining its distinct self-custodial identity for SHIB has reportedly gone live. An impending milestone for the Shiba Inu ecosystem is being marked by this action made by the development team of the Shiba Inu (SHIB).
Special Self-Custodial Identity of Shiba Inus for SHIB
After a seventy-two-hour countdown, Shiba Inu revealed on Saturday, October 28, that the highly awaited unique self-custodial identity for SHIB is now under progress. The news comes after the SHIB cryptocurrency’s layer 2 scaling solution, Shibarium, was introduced.
The project for self-custodial identity is expected to be a “game changer” and cause “a seismic shift in the blockchain world,” according to the statement.
Furthermore, Shiba Inu developer Kaal Dhairya announced that the self-custodial identity in the Shiba Inu ecosystem is coming soon on his X (formerly Twitter) handle. The post said, “Your self-custodial identity is about to take a first step.”
The statement sparked enthusiasm among the sizable and committed “Shib Army” and immediately led to a bullish trend for the SHIB token, with its price on the rise.
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!.
The Shiba Inu self-custodial identification project’s implementation may affect SHIB’s price in a number of ways. First of all, by giving users a great deal of control over their personal data, it might attract more people to the SHIB ecosystem.
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Furthermore, the endeavor may result in an increase in the desire for SHIB tokens among investors who have faith in the project’s future prospects and open up further doors for Shiba Inu, including using SHIB for online identity verification.
The Shib Army is clearly excited about the upcoming self-custodial identification movement, even though the project’s exact parameters are still unknown. On the other hand, thorough instructions on the fundamental actions users must perform in order to obtain their unique SHIB identity will be made accessible on Wednesday, November 1, 2023.
Self Sovereign Identity (SSI) System Adopted by SHIB Inu
The project’s principal creators announced earlier this year that Self Sovereign Identity (SSI), a blockchain-based identity system, will be integrated into all Shibu Inu initiatives.
A user-possessed and controlled digital identity is represented by the SSI. Unlike conventional centralized identification systems, where personal data is stored with organizations or platforms, it guarantees users’ total control over their identity, its validation, and its uses.
Although not a novel concept, the blockchain-based identity system is gradually gaining traction in the industry. The SSI’s incorporation into every Shiba Inu project is a progressive approach because it shows how important user data security and privacy are while also presenting a scenario in which people have complete control over their digital identities.
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