Blockchain Domains
Blockchain domains allow users to engage in digital currency transactions by simply remembering a recipient's domain name instead of their long cryptic cryptocurrency address. The TLD .crypto is a decentralized domain registry built by the company Unstoppable Domains.
The Problem
A crypto wallet address is a long cryptic cypher of characters, hard to remember. People use QR codes to shorten the long address. However, QR code apps have been hacked where the long address is modified so the funds are transferred to hackers instead of the intended recipients.
For example: 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2
For example: 1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2
The Solution
With blockchain domains, users can replace their public wallet address with their own custom domain name. It's easy to remember and type a recipient's domain name instead of copy/pasting the long recipient address or scanning a QR code.
For example: John.crypto
For example: John.crypto
Blockchain domains do many things that traditional domains can’t do:
- Payments - Domains can be used as a payment gateway for cryptocurrency payments.
- Uncensorable Websites - Other companies and governments cannot control the content you show on your website.
- Alternate Root - Are not governed by and don’t require approval from ICANN.
- No Custodian - Blockchain domains are stored by the owner. No 3rd party can move or seize them.
- No Renewals - Pay once and it’s yours forever.
- Transfers - Blockchain domains do not require an escrow agent to securely exchange the domain or funds. This transfer can happen in less than 1 minute, from or to anywhere in the world.