Cryptography consists of studying, developing, and practicing techniques for securing data from third-parties. The practice led to Bitcoin and other crypto addresses being difficult to remember strings of letters and numbers, as a way to keep them secure and prevent unwanted access.
But now there’s a way to create vanity addresses for Bitcoin and other cryptocurrencies, using new blockchain domain names, making remembering addresses easier, and reducing the risk of sending funds to the wrong crypto address.
Receive Bitcoin and More New .Crypto Blockchain Domain Addresses
A Bitcoin address is a cryptographic string of between 26 and 35 alphanumeric characters. These addresses are often case-sensitive, confusing, and difficult to remember, creating a host of problems for novice users of the emerging technology.
It’s not uncommon for crypto investors to inadvertently send funds to an incorrect address after having mistyped only one digit. Those funds are considered lost forever, as blockchain transactions are irreversible.
These pitfalls are among the few limitations to widespread pubic adoption that will eventually be addressed in the future, but for now, a new solution has emerged through crypto and blockchain domain names.
A new set of .zil, and .crypto domain names are being offered by Unstoppable Domains, and these domain names can be used to set up a vanity address for receiving cryptocurrencies. Rather than relying on a cryptographic string of numbers, users will be able to type in their name, their business, their crypto of choice, or whatever they name their domain to receive cryptocurrencies like Bitcoin.
Interesting, the domain is stored inside a blockchain wallet, just like a cryptocurrency, and no one can move it around other than the owner. This makes any websites built on these new domains uncensorable, and unable to be taken down or seized by a third-party.
These new crypto-focused blockchain domains aren’t part of the normal Domain Name System and are called alternate roots, according the the Unstoppable Domains website. Owners are able to hide their identity or opt to provide whois data like a normal web domain.
If these new blockchain domains are scooped up as fast as the early .com domains were for the web, then it might be wise to ensure you act fast and snag your name of choice. In the early days of the internet, creative, forward-thinking investors bought up a bevy of useful domain names and parked them until a buyer came along, earning them a fortune.
While Unstoppable Domains does note that trademark holders may claim ownership of a specific domain that coincides with the trademark, non-trademarked names are likely to run out fast. Such was the case with .com domains, leading to the emergence of .net, .tv, and many other common URL extensions that are used widely today. Some day, your .crypto domain could be as rare as a four-letter .com domain is today.