DN404 Standard Adopted By Shiba Inu
Shiba Inu, a Blockchain Project is continuing its record of exploring different technologies. particularly those related to the digital currency ecosystem. This weekend, the Shiba Inu ecosystem team uncovered that it has become possibly the first venture to embrace the DN404 token standard.
The famous blockchain project portrayed the move as one more striking step toward the future. It additionally referred to the adoption of the DN404 standard as one more proof of Shiba Inu’s obligation to embrace innovation in the crypto space.
Years ago, #ShibToken marked the beginning of an adventure, pushing us beyond the boundaries of decentralization. We're excited to step into the experimental test of our DN404 standard, another bold step towards the future. 🌐
CA👇
0x5dE869E3E62B0FB2c15573246BA3Bb3Fd97a2275— Shib (@Shibtoken) February 24, 2024
DN404 Standard
The DN404 standard is another protocol designed by Ethereum engineers to power non-fungible tokens (NFTs). Definitively, the standard incorporates elements of fungible tokens (ERC-20) with the functionalities of NFTs (ERC-721) to create another Hybrid token model.
The advantage of the new model is that it empowers the fractionalization of NFTs and brings down transaction fees for trading these assets. The idea of fractionalization, particularly, upgrades liquidity and introduces more value to the NFT ecosystem.
On account of Shiba Inu, the project has taken on the DN404 standard for the Sheboshis collection. The Sheboshis collection was sold out in a flash as reported by cryptolifedigital.com. Subsequently, the adoption of the DN404 standard obviously will permit more investors to own a slice of the pie.
Read Also: SHEboshi Minting Would Be In 3 Phases According To Shiba Inu Team
Consistent Renovation In Shiba Inu
The adoption of new innovations isn’t altogether new for the Shiba Inu community. The task has progressively looked for new Artificial intelligence-related organizations partners in helping onboard users to the Shiba Inu ecosystem.
Also, Shiba Inu has leveraged the increased interest in L2s. Shiba Inu’s layer-2 network, Shibarium has previously gotten off to a decent beginning and keeps on drawing in value to the project and its community.
The good faith among investors is that these Shiba Inu-centered initiatives will support by boosting the adoption of the project’s native token, SHIB. SHIB is trading at $0.000009645 at the hour of composing, having lost 1.6% of its value in the previous week.
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