SHIB Reveals Non-Custodial Wallet with Hassle-Free Recovery

SHIB Wallet disables the possibility of losing your keys and seed phrases with one magic Web3 trick.

A jar filled with SHIB tokens on a land and a friendly shiba inu welcomes you.
Created by Kornelija Poderskytė from DailyCoin
  • Shibarium L2 devs recently launched the SHIBDentity Web3 protocol.
  • SHIB developers continue the decentralization quest with a new wallet.
  • SHIB Wallet sports an ultra-rare feature, making it easy to regain control.

Shibarium’s decentralization crusade escalates with a brand new DeFi product, introduced in an official blog message. After last week’s announcement of the Shiba Name Service (SNS), Shiba Inu takes it to the next level with a decentralized, non-custodial wallet with flexible authentication options, erasing users’ fears of irretrievably losing or forgetting verifiable credentials.

How SHIB Wallet Removes Chance of Losing Access

SHIB’s community’s has prepared for a full-on decentralized identity, once envisioned by Ryoshi, the creator of the SHIB token. Shiba’s Name Service (SNS) is the first installment of this digital identity initiative, as now every SHIB Army member can get a .SHIB address instead of using the classic cryptography address on-chain.

Shibarium developers aim to solve some common issues related to self-custodial wallets. For instance, the fear of losing your DeFi crypto wallet credentials has been a hot topic in the crypto community, with some industry leaders even forecasting that 99% of regular investors would eventually lose the backups to their self-custodial wallets.

The non-custodial Shiba Inu wallet employs a multi-factor authentication, which encompasses both Web2 and Web3 login methods. The versatile login options include signing on via Google, Twitter, and GitHub and temporary authentication via email. In such a way, a user can still seamlessly control their cryptographic wallets without remembering crypto wallet keys.

On the Flipside

  • The official blog message on SHIB.io doesn’t provide an exact launch date for this self-custodial wallet on Shibarium L2.

Why This Matters

As the global trend is shifting towards digital identity and real-world asset tokenization, a sovereign crypto wallet & self-verifiable digital identity will be pivotal to onboard users onto the new internet generation.

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This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Tadas Klimasevskis

Tadas Klimaševskis is a Lithuanian journalist at DailyCoin, specializing in covering the lighter side of the crypto industry such as memecoins and pop culture in the metaverse. He has experience as a music artist, English language teacher, and freelance writer, and uses his creative writing skills to summarize valuable information in his work. He is also a strong believer in the potential of blockchain and spends his free time listening to music, traveling, and watching basketball games.