Coinbase Wallet Integrates Unstoppable Domains; Send Payments Via .Crypto Addresses

August 5, 2020 John Coinbase 0

Coinbase Wallet, a service rendered by US based Coinbase crypto exchange is extending its support for Unstoppable Domains according to an announcement made by the latter on their official twitter page.

Founded in 2018, Unstoppable domains is a blockchain-based domain name service that provides users with .crypto domains which can be used as a replacement of the long alphanumeric character wallets have.

With the domain names now integrated with the wallet, the users can trade and remit payments to other users without necessarily being obliged to key in often long crypto addresses. The .crypto domain names allow the users to launch and host decentralized websites running on a peer to peer protocol dubbed Inter Planetary File Service (IPFS).

The main difference that could be drawn from the legacy domain names that is: .com, .org is that they are issued by the Internet Corporation for Assigned Names and Numbers (ICANN). They ordinarily retain full rights to domain names and could shut any website down if need be. Whereas the Uncensorable domains that are hosted on the Ethereum ecosystem can only be taken down by the holders of the private keys.

Cofounder of Unstoppable domains, Brad Kam is optimistic that Blockchain domains are the future of crypto wallets. He commended Coinbase’s initiative that will solely push the market into crypto mainstream. The Coinbase wallet has now consolidated their place as a one stop shop for all the crypto inclusive of BTC and ETH that they provide.

They will also offer custody support for Blockchain domains granting Coinbase users privileges to register and manage the domains from the Dapp browser. They have currently registered about 250000 domains with 21000 including by some Fortune 500 companies being acquired in July. They raised $4Million in May 23rd 2019 seed round that was spearheaded by VC firm Draper Associates and Boost VC.

Notably, this is not the first collaboration that the San Francisco based Unstoppable domains. They have forged partnerships with Huobi wallet, my Ether wallet and the Trust wallet backed by mega crypto exchange Binance.