MyEtherWallet, which is an Ethereum based third party wallet, has partnered with a blockchain domain company Unstoppable domains to sell .crypto domains.
The users of MyEtherWallet will have the privilege of buying the domains just from the interface of the wallet. Unstoppable Domains is a company that is offering a unique decentralized domain.
Through the partnership of the company with MyEtherWallet, the domain provider will be able to tap onto the wallet’ active users who are up to 1 million in number. As of April 23rd, Unstoppable Domains gave the wallet company rights to be a domain registrar, which allows it to resell the domains.
It will not operate the way traditional domains work as the domain is not centralized, and therefore the custody of the domain will be tied to a specific wallet.
Unstoppable domains took advantage of Ethereum smart contracts, which helps it to look up addresses and assign domains. This is not the same as the Ethereum Name Service (ENS), which is responsible for the .eth domains, though the functionality is more or less the same. Unstoppable Domains is different in that it can link the .crypto domain to a particular Ethereum wallet, making it limitless when it comes to sending money.
Decentralized domains do not operate in the same way as traditional domains. According to the company, it will be impossible for standard browsers to open .crypto websites. Early March, the Opera browser partnered with Unstoppable Domains to provide the infrastructure for blockchain-based domains.
Opera does not have a significant market share like other browsers; it only holds 2.2%. As for Chrome, there is a browser extension that can help you access .crypto domains.
It is important to note that decentralized domains will not make the web uncensorable; instead, they will help users bypass restrictions when they need to publish content.
Unstoppable domains strategy
According to Brad Kam, the co-founder of Unstoppable domains, the crypto wallets route is a good strategy as it will make it easier for users to discover blockchain domains. So far, the company has started with MyEtherWallet and is willing to partner with any other wallets that may be interested.
The wallets will hold the domains, and that shows a growth in transition in the functions of wallets to be more than the storage of money. Wallets are growing to be portals through which people can access blockchain products and services.
Image from Flickr.com/