Unstoppable Domains and Blockchain.com have teamed up to launch a new web3 domain under the “.blockchain” extension. The two companies are working on registering this domain with ICANN, the global authority overseeing domain names. The application process is set to begin with the launch of ICANN’s Applicant’s Guidebook next year, giving the firms a year to prepare. Once approved, the .blockchain domain will provide a dedicated space for blockchain-related businesses, combining web2 and web3 capabilities. Unstoppable Domains, established in 2018, aims to offer specialized domain names for individuals, brands, and companies, expanding the use of blockchain-based domains.
Web3 domains are relatively new web extensions, launched as smart contracts on public blockchains like Ethereum, Polygon, and Solana. These extensions, such as .sol or .crypto, can be used for cryptocurrency transactions, website hosting, and single sign-on methods for web3 applications. The simplicity of web3 domains is their appeal, allowing users to use easy-to-remember names instead of complex wallet addresses. These domains are non-fungible tokens hosted on a public, immutable blockchain, providing full ownership to users and serving as their digital identity. The recent success of FIDA, following the launch of its Solana Name Service (SNS) in China, indicates a growing interest in web3 domains.
The partnership between Unstoppable Domains and Blockchain.com aims to bridge the gap between web2 and web3 by combining traditional web capabilities with blockchain technology. The .blockchain domain, once approved by ICANN, will provide a seamless experience across both ecosystems. Just like the Ethereum Name Service’s integration of browser-compatible “.box” web domains, the .blockchain domain will offer both web2 and web3 functionalities. This integration will enhance accessibility and allow users to utilize “.blockchain” domains for email, website resolution, and more.
The “.blockchain” domain and other web3 domains are unique NFTs hosted on a public blockchain, ensuring immutability and full user ownership. These domains are utilized for various purposes, including simplifying cryptocurrency transactions and serving as digital identities. With the rise of web3 domains, users no longer need to remember complex wallet addresses, as they can send funds to easy-to-remember names like “jack.eth”. The simplicity and user-friendly nature of web3 domains make them an attractive option for consumer engagement and interaction in the blockchain space.
As more users purchase popular domain names through platforms like Unstoppable Domains and Blockchain.com, it is anticipated that corporations will soon register their respective brands on web3 domains. The interoperability and user-friendly features of web3 domains make them a valuable asset for businesses looking to establish a strong online presence in the blockchain ecosystem. The growing popularity of web3 domains, combined with the integration of traditional web capabilities, indicates a shift towards a more seamless and efficient online experience for users in the blockchain industry.
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