Ethereum-Based Push to Simplify Crypto Transfers Launches, Backed by Bitcoin Bull Tim Draper
Unstoppable Domains, a startup creating domains on blockchains, is launching .crypto, a domain registry based on the Ethereum blockchain.
Backed by billionaire venture capitalist Tim Draper, Unstoppable Domains hides long blockchain addresses in order to simplify the process of sending crypto payments, which could lead to more people using digital assets.
According to the announcement,
“With .crypto, users can connect any cryptocurrency address to their domain. To get paid, all someone needs to know is your blockchain domain.”
Unstoppable Domains co-founder and CEO Matthew Gould explains,
“.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.”
The release notes that the crypto community has shown a lot of interest in this as over 100,000 .zil domains (the company’s first domain extension) have been purchased.
For the next week and a half, Unstoppable Domains is giving users who purchase a .zil domain of 8 characters the same .crypto domain for free and $1 of store credit for every $1 they spend on domains.
Unstoppable Domains will support domain extensions on the Ethereum and Zilliqa blockchain.