New .Crypto Domain Extension Launches on Ethereum by Tim Draper’s Unstoppable Domains Firm
Unstoppable Domains, a company backed by the billionaire Tim Draper, has just launched a new domain registry on the Ethereum blockchain called .crypto. This new registry will be used to connect crypto addresses to someone’s domain. By doing this, the person enables crypto payments using that domain.
This would make payments considerably easier because the clients would only need to know the blockchain domain to make them, not the whole wallet address of the person.
In the vision of the company, simplifying payments will eventually lead to greater adoption of the crypto market. The company’s CEO Matthew Gould affirmed that the prominent tribalism of the crypto community is considerably slowing down how fast crypto is adopted and that new ways to improve the usability of the technology have to be created.
These new domains will have several benefits when compared to their traditional counterparts. Not only they are perfect to be used as payment gateways, but the site cannot be stored or seized by any kind of third-party and it becomes uncensored, as it would be on the blockchain.
Another advantage is that the site would not be related to the Internet Corporation for Assigned Names, the institution that has power over this area. This would provide a true level of decentralization for the clients, as they really would be the sole owners of their address.
According to the company, the registration process would be for life and would not need any kind of renewals. Domains could also be easily transferred if someone wanted to sell it or to give it to someone else.