Tim Draper VC-backed Unstoppable Domains launches web domain and cryptocurrency username service reminiscent of Dash Platform usernames.
In a press release published this week, the company announced the deployment of a domain name service on the Ethereum blockchain which allows users to link cryptocurrency addresses for easier payment:
“With .crypto, users can connect any cryptocurrency address to their domain. To get paid, all someone needs to know is your blockchain domain. Unstoppable Domains believes that hiding long addresses will simplify cryptocurrency payments and lead to mainstream adoption for cryptocurrency. The cryptocurrency community has demonstrated a serious interest in this – having purchased more than 100,000 .zil domains – the company’s first domain extension.”
According to CEO Matthew Gould, the project aims to simplify the payment experience across multiple chains, cutting down on preferential treatment of one technology over the other.
“We believe that tribalism in the crypto community is slowing down adoption of the technology. .Crypto is a domain name system meant to be used for any cryptocurrency payment and with any cryptocurrency wallet. Sending money to a .crypto domain is a way simpler user experience for the millions of cryptocurrency users that currently have to copy/paste and type in long addresses in order to transact.”
Eerily reminiscent of the Dash Platform username service
The cryptocurrency username system of Unstoppable Domains is very reminiscent of the Dash Platform, scheduled for testnet this year and conceptualized late 2015, and its username setup. As revealed last year, Dash usernames will not only provide an immutable and simplified username system for sending and receiving payments, but will provide a link between users and allow them to form contact lists so that payments can easily be made between users repeatedly, generating fresh addresses each time for privacy reasons back-end, in a completely decentralized way. During the latest quarterly call in early August, the Dash Core team further elaborated on the structure of this system, including introducing the Dash Platform Naming Service (DPNS).
Dash’s constant foray into mass adoption prerequisites: speed, scaling, and usability
Dash has continued to focus on providing a decentralized currency and payment network that functions as seamlessly as possible in order to support regular, non-technical users. All Dash transactions are permanently settled by default in under two seconds, and are protected against 51% attacks and other mining disruptions thanks to ChainLocks, creating a secure and instant transaction experience far exceeding that of major competitors. Additionally, the Dash network has been shown to easily scale to transaction levels equal to a majority of PayPal’s volume and beyond, with true mass adoption levels easily possible.
The activation of Dash Platform and usernames will add another element to Dash’s mass-market appeal, allowing users to transact instantly and securely, with few limitations, while using an easy and intuitive interface, all without sacrificing decentralization or censorship resistance.