According to a press release published by Business Wire on October 11, Tim Draper-backed blockchain domains maker Unstoppable Domains has launched a new .crypto name registry on the Ethereum Blockchain to boost cryptocurrency adoption. In April, the company announced its intention to launch 2nd domain extension after .zil.
According to the press release, the new .crypto registry allows user to connect any cryptocurrency address to their domain. To make a payment, one only needs to know the blockchain domain. This will eliminate the need of copy-pasting the unwieldy cryptocurrency wallet addresses.
Currently, Blockchain addresses look like 1BvGISEYstKrtqTFn7Au4a9GFg7xJaKDt5 which is very lengthy and is very prone to mistake. The company said that removing the long and complex blockchain addresses will simplify cryptocurrency payments and lead to mainstream adoption for cryptocurrency.
This registry is a follow up to Zilliqa blockchain, also called .zil domain., which was launched earlier this year. The crypto community showed great interest in this domain as more than 100,000 .zil domains were sold by the company.
Unstoppable domain said that it will support domain extensions on both the Ethereum blockchain and the Zilliqa blockchain.
Besides making payment method easy, Blockchain domains hold many benefits over their traditional counterparts. Blockchain domains offer uncensorable websites that other companies and governments can not seize and also, these domain do not require any approval from the Internet Corporation for Assigned Names and Numbers (ICANN). These domains do not require any renewal as you pay once and it is yours forever.
Matthew Gould, co-founder and CEO of the company, sharing his thoughts on this new domain launch, said:
We believe that tribalism in the crypto community is slowing down adoption of the technology. .Crypto is a domain name system meant to be used for any cryptocurrency payment and with any cryptocurrency wallet. Sending money to a .crypto domain is a way simpler user experience for the millions of cryptocurrency users that currently have to copy/paste and type in long addresses in order to transact.
According to the company, from October 11-21, users who buy a .zil domain of 8 characters or more, will receive the same .crypto domain for free plus $1 of store credit for every $1 spent on domains.
Unstoppable Domains is a blockchain domain maker company founded in 2017 with headquarters in San Francisco. It was founded by Bogdan Gusiev, Bradley Kam, Braden Pushkin, and Matthew Gould. The company is backed by Draper Associates and Boost VC who invested $4.7M in its series A funding round.