Crypto firm Blockchain.com will allow its users to claim free “.blockchain” domain names backed by Unstoppable Domains, the company announced on Friday. The new variant has become a potential problem for the Ethereum name service.
Readable crypto addresses
According to the official representative of the crypto exchange Blog post, the newly introduced feature will allow 82 million registered users to own a .blockchain domain through a partnership with Unstoppable Domains. The latter is an NFT domain name provider and digital identity platform that works with domains tied to readable crypto addresses.
These new features could allow users to transact cryptocurrencies through crypto addresses with readable names. In the coming weeks, every Blockchain.com wallet user will be able to get a free custom domain associated with their wallet. The .blockchain domain is an easy-to-remember crypto-address that allows users to transfer assets without getting bogged down in a string of complex combinations of symbols and numbers.
“Instead of copying and pasting long complicated wallet addresses like bc1qw508d6qejxtdg4y5r3zarvary0c5xw7kv8f3t4, you can just type in an easy to remember domain like john.blockchain.”
The news is a step up from the firm’s previous announcement supporting a variety of domain endings including .x, .nft, .wallet, .coin, .bitcoin, .dao and more. The new feature positions the crypto firm as “the first company to have a branded top-level domain with Unstoppable Domains.”
Unstoppable Domains website indicates that each domain name is an NFT minted on Polygon, which means it is unique and fully documented on the blockchain. It’s also worth noting that some popular domain endings are sold on the site for $100,000.
Ensu alternative. this
Using the popular Ethereum Name Service (ENS), users can also customize domain names for their crypto addresses. In addition to Ethereum addresses, ENS also offers domains for crypto wallets, websites, content and hashes with the ability to connect their online metadata and addresses under one pseudonym.
Because of the uniqueness of each ENS domain, crypto natives tended to bet on popular names — much like the people who fought over DNS names in the early days of the Internet. In addition, ENS users must pay $5 per year for names longer than 5 characters on ENS applications.
Blockchain.com’s latest move is offering users an alternative to ENS – the largest domain service in the industry with over a million active accounts – as the company believes a readable address can further expose crypto-related services to a wider population.
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Credit : cryptopotato.com