🖥 Making Crypto Addresses Easy to Interact With
Today's Highlights
- Unstoppable Domains - creating easy-to-read crypto addresses
- Today's Infographic
- In Other News - a few interesting developments we're tracking.
Unstoppable Domains - creating easy-to-read crypto addresses
Unstoppable Domains was founded in 2018 by Matthew Gould, the current CEO, who saw a need for it to be easier for users to interact with crypto addresses. The aim of Unstoppable Domains is to be like the DNS system that came into place, so users did not have to learn IP addresses in order to get to websites, except for crypto addresses.
Unstoppable Domains is extremely safe because once claimed the domains exist under the address on blockchain, meaning they are as secure as the blockchain itself. It is doubly safe because this also means that the domain cannot be blocked by anyone other than the user, so the website is never at risk of being down due to censorship. The site for purchasing the domains is safe as well and can be secured with two-factor authentication.
The cost of Unstoppable Domains depends on two main factors, though it should be noted that purchasing a domain is a one-time cost and requires no annual renewals of any sort. The first factor is the cost of the domain itself, this can range from $20 USD to well over $1000 USD depending on the domain the user choose, as cost is based on domain type (.crypto is more than .wallet for example), and the length of the domain name, with shorter domains costing extra. In addition, there are premium domains that cost tens of thousands. The next factor is the gas fees associated with using the Ethereum blockchain to claim the domain. Because the domains are stored on the Ethereum blockchain, the transaction to claim them comes in ETH and is not included in initial purchase. The gas fees will depend on the current cost of ETH and the network congestion at the time of the transaction.
The domains also have more functionality than traditional domains. They can be used to a payment router, and also used to create websites with dApps built directly on them because they exist on the blockchain, allowing the use of smart contracts on the site. Perhaps the best and most appealing feature of Unstoppable Domains is that it provides a way to have one address to receive 276 different crypto assets. Unstoppable Domains has raised a total of $72M in funding.