Unstoppable Domains, a software company building domains on blockchains backed by Tim Draper, is launching .crypto – a domain registry on the Ethereum blockchain – the first week of November.
Users will be able to tie a cryptocurrency address to the domain and use it as a payment address for different cryptocurrencies with various wallets. The domain registration will be life-long and won’t require renewal. Also, according to the press release, other companies or governments will not be able to gain control over the content on the website, as websites hosted on a blockchain domain are stored by the owners.
Unstoppable Domains co-founder and CEO Matthew Gould believes that this system will foster cryptocurrency adoption, which is now being slowed down by the “tribalism in the crypto community”, as .crypto domains are “meant to be used for any cryptocurrency payment and with any cryptocurrency wallet”. The new service is supposed to provide a much simpler user experience for crypto transactions.
The domain system will support extensions on the Ethereum blockchain and the Zilliqa blockchain. Up to the moment, according to company statistics, the users have already registered more than 100,000 .zil domains, the company's first domain extension, which proves high interest from the community.