Cryptocurrency wallet and exchange Blockchain.com Inc. said today that it’s integrating all of Unstoppable Domains Inc.’s extensions for its 81 million wallets to make it easier for its users to send and receive digital currencies.
In order to receive cryptocurrencies such as bitcoin and Ethereum, users need to exchange a lengthy, difficult-to-remember alphanumeric code that represents their wallet address.
Unstoppable Domains has devised a solution that allows people to own unique, human-readable domain names that translate into their wallet addresses using nonfungible token technology. NFTs are a type of crypto asset using the same blockchain technology that underlies cryptocurrencies and represents ownership of a digital item – in this case, a domain name representing a digital identity.
“Replacing complicated addresses with human-readable domains on Blockchain.com allows users to send and receive crypto as easily as sending an email,” said Amadeo Pellicce, senior product manager at Blockchain.com. “It’s critical that we make crypto easier to use and more accessible for all.”
Last year, Blockchain.com and Unstoppable Domains added support for domain names to do exactly this sort of thing with .crypto domains. This meant that users could register, for example, “myname.crypto” in order to send and receive cryptocurrency.
Now, Unstoppable Domains is opening up all of its extensions, including .x, .nft, .zil, .wallet, .coin, .bitcoin, .dao and .888 domains to access Blockchain.com wallets. The company added that the .blockchain extension will be coming soon.
Matt Mikiewicz, chief revenue officer of Unstoppable Domains, told SiliconANGLE that crypto exchanges are a perfect use case for NFT domains because a single typo in a wallet address could lead to an unrecoverable loss.
“So wallets all have this huge usability problem for their users because every single cryptocurrency held has a different hexadecimal wallet address,” Mikiewicz said. “When you go to the crypto transfer fields, they can just type in an Unstoppable name. They’ll correctly route the currency to the right person and world without any chance of human error.”
Owning an NFT domain goes beyond just being able to send and receive cryptocurrency. It can be used as a way for people to control their digital identity across numerous blockchain applications and sign on to decentralized apps, services, games and the metaverse.
Unstoppable Domains can be accessed natively through the Brave and Opera browsers and by using extensions on Chrome, Firefox and Edge.