Shiba Inu Can Be Used As A Form Of Payment In The Decentralized Domain

Key Points:

• Shiba Inu ($SHIB) has been accepted as a payment mechanism for Unstoppable Domains, a decentralized domain registration service.
• Unstoppable Domains’ recent action is anticipated to accelerate the acceptance of decentralized domain name registration and bitcoin use cases.

In the Ethereum network, Shiba Inu, along with a large number of other digital assets, is recognized as a valid form of payment.

Shiba Inu ($SHIB), a meme-inspired cryptocurrency, is now accepted as a payment mechanism for the decentralized domain registration service Unstoppable Domains. SHIB, like many other digital assets, is accepted as a payment option on the Ethereum network. Unstoppable Domains has consistently increased the amount of possibilities available by introducing more cryptocurrencies. Bitcoin, Ethereum, and Litecoin are among the prominent virtual currencies accepted by the organization. The startup launched support for another meme-inspired cryptocurrency, Dogecoin ($DOGE), in early March, and now SHIB has joined the roster.

Unstoppable Domains’ recent action is anticipated to accelerate the acceptance of decentralized domain name registration and bitcoin use cases. Unstoppable Domains previously expanded its digital identity services with a new relationship with the Opera Web3 browser. Shiba Inu’s burn rate just reached 27.954%, with more than 410 trillion SHIB tokens burnt to date. Holders of the coin surpassed 1.3 million last month, ahead of the project’s planned introduction of Shibarium, a layer 2 scaling solution.

As recently reported by Coincu, the beta version of Shibarium, a Layer 2 blockchain that is based on the Shiba Inu (SHIB) cryptocurrency, will be released this week. In the Shibboleth network, users will have the ability to stake their SHIB tokens and earn rewards. This network is expected to be faster, less expensive, and more efficient than Ethereum. The launching of Shibarium could increase people’s interest in cryptocurrencies and the environment it exists in. It is a significant step forward for the cryptocurrency industry and has the potential to be a paradigm shifter in the field of Layer 2 solutions.

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