Over time, this will get solved as people figure out how to properly configure payments, Gould said.
“Privacy technology is a few years behind the rest of the blockchain technology,” Gould said. “We’ve actually worked with a couple of teams to demonstrate sending cryptocurrency to a blockchain domain name and doing it privately. So it is technically feasible. And I think it is. But it’s not a core product for us at this moment in time.”
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Freedom and digital ownership are at the heart of this integration. Services like Venmo and Cash App are closed ecosystems with geographic restrictions, but blockchain domain names give you the freedom to send funds between a large number of wallets and exchanges from anywhere in the world.”
Traditionally, sending Bitcoin, Ethereum, Doge, and other cryptocurrencies requires entering the recipient’s 25-42 digit alphanumeric wallet address. If a person mistypes or miscopies a wallet address, those funds can be lost forever.
Unstoppable Domains solves this by introducing human-readable usernames compatible with 50+ wallets and exchanges, including Blockchain.com.
You can also see domain names that have already been registered, the address that owns them, the address they resolve to, and when their registration expires.Request to register
After you’ve approved your browser wallet to connect to the ENS app, you’ll be eligible to register a .eth domain. Make sure you have enough ETH in your wallet for the registration fee and gas fees before you submit your registration request. Once you’ve sent enough ETH to your wallet and found an address you’d like to register, you can choose how many years you’d like to register it for and and click the request to register button.
Now, instead of “156i6HJfMWb1h2BEsKpfvZ2tQugqo4vs2w,” users can simply type “[YourName].crypto” to send money to others or transfer it between accounts.
“Over the years at Blockchain.com we’ve worked hard to make crypto easier to use as part of our mission to build a new financial system for the internet. Our Unstoppable Domains integration is an exciting step in this direction,” said Amadeo Pellicce, Product Manager at Blockchain.com. “Our customers can now send crypto to friends and family using more familiar-looking usernames. This drastically reduces the potential for errors without compromising on user security.
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About Blockchain.comBlockchain.com is connecting the world to the future of finance. The company is the most trusted and fastest growing crypto company, helping millions across the globe — from single individuals to the largest institutions — safely access cryptocurrency. Through the use of block chain technology, Blockchain.com is revolutionizing the $14T financial services industry.
Making crypto payments as easy as sending an email helps pave the way for wider adoption of crypto.”
Unstoppable Domains has sold more than 1 million domain names, which are minted as NFTs on the Ethereum blockchain. Along with sending and receiving funds, these NFT domains are used to create decentralized websites to publish content and access Web3. Blockchain domains have already become the standard for crypto wallets, and interoperability is at the forefront of Unstoppable Domains’ mission.
Blockchain.com recently raised $300 million at a $5.2 billion, post-money valuation, led by partners of DST Global, Lightspeed Venture Partners, and VY Capital.
Self-registered globally unique human-readable usernames via blockchain
Drawbacks of current identity-management/authentication systems:
– Providers can go out of business/identity bound to service provider – Servers can fail by technical failures or Denial-of-Service attacks – Different service providers mean different identities/no globally unique identities – Service providers can (be forced to) forge identities
The Namecoin project has extended the Bitcoin blockchain-concept to self-register globally unique human-readable names and publish a data set for each globaly unique name (https://wiki.namecoin.info/index.php?title=Identity, https://en.wikipedia.org/wiki/Namecoin). As storage and signing of a blockchain are done decentralized the registrations and the content of the data set cannot be forged.
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.
Another gas fee may also be required to edit the content of your ENS domain.ENS app
To begin, head over to the ENS app by navigating to app.ens.domain in your browser. To interact with the app, you’ll need a Web3 compatible browser and an Ethereumbrowser extension walletlike Metamask. Even without connecting your wallet to the app, you can use the search function to explore domain name options and see which ones are available.
Making crypto payments as easy as sending an email helps pave the way for wider adoption of crypto, Pellicce said.
A big opportunity
Unstoppable Domains has registered more than a million domain names, with each minted as a nonfungible token (NFT) on the Ethereum blockchain. Along with sending and receiving funds, these NFT domains are used to create decentralized websites to publish content and access Web3. Blockchain domains have already become the standard for crypto wallets, and interoperability is at the forefront of Unstoppable Domains’ mission.
Blockchain.com recently raised $300 million at a $5.2 billion post-money valuation, led by partners of DST Global, Lightspeed Venture Partners, and VY Capital.
Since 2012, 76 million wallets have conducted $800 billion in transactions using Blockchain.com.