press release
In partnership with Unstoppable Domains, Bitcoin.com is making it easier than ever to use cryptocurrency as a payment method. Users of the multichain Bitcoin.com Wallet can now send cryptocurrency to the full range of domains offered by the blockchain-based domain provider. This means, for example, that people can send bitcoin to a human-readable address like ‘elizabeth.crypto’ rather than to the long and complicated wallet addresses that are native to the Bitcoin protocol (eg. bc1qar0srrr7xfkvy5l643lydnw9re59gtzzwf5mdq).
“Cryptocurrency is a powerful force for creating economic freedom in the world, but adoption has been stifled by the frankly poor user experience — and the industry-standard usage of complex wallet addresses is a key pain point,” said Bitcoin.com CEO Dennis Jarvis. “Unstoppable Domains’ human-readable addresses are a big step in the right direction, which is why we’re proud to support them in our fully self-custodial wallet.”
Unstoppable Domains is one of three major providers globally of blockchain-based domains, the other two being the Ethereum Name Service (ENS) and the Foundation for Interwallet Operability (FIO). These services, all of which are supported in the Bitcoin.com Wallet, provide domain name extensions that are tied to a public blockchain rather than to the traditional Domain Name System (DNS).
“When ownership of domain names is managed via public blockchains rather than in the private databases of traditional domain name registry services like Verisign, the result is reduced censorship risk and enhanced property rights — two of the key value propositions of cryptocurrency in general,” said Jarvis.
At Unstoppable Domains, buyers can purchase a domain name like ‘brad.crypto’ which is represented as a nonfungible token (NFT) that lives on either the Ethereum or Polygon blockchains. Via Unstoppable Domains’ web portal, buyers can map their cryptocurrency addresses to their domain name/NFT, and that information is recorded on the blockchain. Anyone using the Bitcoin.com Wallet can then send any mapped cryptocurrency to the domain name owner by typing in the domain name (eg. ‘brad.crypto’) in the send field.
“With over 32 million wallets created, Bitcoin.com Wallet has the potential to bring usage of NFT domains to the mainstream,” said Sandy Carter, SVP of Business Development at Unstoppable Domains. “We’re thrilled to expand our partnership with Bitcoin.com so we can not only simplify cryptocurrency payments, but also empower people to own their data and their identity across web3.”
Bitcoin.com CEO Dennis Jarvis added, “With Bitcoin.com launching our rewards and utility token VERSE, we’ll be guiding more and more newcomers into the web3/DeFi world. In that environment, tools that enhance sovereign ownership of data are essential infrastructure. We’re excited at the progress Unstoppable Domains is making, and we’re looking forward to deeper integrations in the future.”
ABOUT UNSTOPPABLE DOMAINS
Founded in 2018, Unstoppable Domains is an NFT domain name provider and digital identity platform working to onboard the world onto Web3. Unstoppable Domains offers NFT domains minted on the blockchain that give people full ownership and control of their digital identity, with no renewal fees. With Unstoppable Domains, people can replace lengthy alphanumeric crypto wallet addresses with a human-readable name and log into and transact with more than 200 apps, wallets, exchanges and marketplaces. The company was named by Forbes as one of America’s Best Startup Employers in 2022.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Source: https://news.bitcoin.com/bitcoin-com-simplifies-cryptocurrency-payments-enhances-data-sovereignty-with-unstoppable-domains-partnership/