EthereumEthereum wallet MyEtherWallet yesterday announced that its users can now buy .crypto domains. It is the first reseller to do so, making it a domain name registrar.
The .crypto domains in questions are minted by Unstoppable Domains, a San Francisco-based company that’s aiming to create a decentralizeddecentralized web. These domain names are hosted on Ethereum, meaning that no domain name service, like GoDaddy, can shut them down.
MEW is the first reseller of .crypto domains, making @myetherwallet a domain registrar!
What’s the difference between .com and .crypto domains?
Regular .com domains are sanctioned by the UN body, ICANN, which it then provides to private registries, like Verisign, who in turn sell them to resellers like GoDaddy. But, explains Brad Kam, co-founder of Unstoppable Domains, any of these centralized institutions can take your .com domain away from you.
But if you have a blockchain domain, “you store it yourself inside of your wallet,” Kam told Decrypt. “Whoever controls the private key is the only person that can move it around; this is the foundation for user control and censorship resistance.”
Ethereum web addresses are really just strings of text registered on the blockchain. Unstoppable Domains turns them into readable addresses and sells them for a profit. Now, it’s selling them to MyEtherWallet.
MEW is currently offering a 30% discount on .crypto domains. Its CEO, Kosala Hemachandra, also promises “a lot more features around decentralized domains” in the wallet “which aren't offered anywhere else.”
Hemachandra told Decrypt that the benefit of MEW is that people “don't need to figure out additional interfaces or even know about the existence of different registries, dapps, etc. If they have a wallet like MEW, they can do everything in there.”
Kam agreed. “It’s common and a better user experience if users can interact from within the apps they already use,” he said.
What are .crypto sites?
Most .crypto sites link to websites hosted on IPFS, or the Interplanetary File System. These sites are hosted through the blockchain’s peer to peer network, rather than on, say, Amazon Web Services—meaning that they can’t be shut down easily.
.crypto sites can only be accessed through browser extensions or on specific browsers. Opera Browser integrated .crypto functionality at the end of March, making it the first major browser to do so, while Unstoppable Domains itself launched a decentralized Internet browser earlier this year.
Unstoppable Domains, however, is hosted on a good ’ol .com domain… unless someone shuts it down.
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
Crypto exchange Kraken is willing to hit some pretty tight deadlines, as the exchange works to elevate its brand and market share through a new business solution dubbed Kraken Embed, according to the company’s Head of Payments and Blockchain Brett McLain.
In an interview with Decrypt, McLain said that Kraken’s recent tie-up with bunq, a Netherlands-based neobank, was the result of a last-minute shift—and a blueprint for how the company could expand its presence through relationships with similar...
Public Keys is a weekly roundup from Decrypt that tracks the key publicly traded crypto companies. This week:
Choppy week for Coinbase
Coinbase flagged a $400 million cybersecurity breach this week—one of the biggest in the company’s history. The most troubling aspect is that the exploit arose because an overseas contractor was bribed to steal customer data.
In a video posted online, CEO Brian Armstrong said that criminals were able to gain access to sensitive user data, including names, addres...
Hong Kong investment group Avenir snapped up another 3.4 million shares of BlackRock's iShares Bitcoin Trust ETF (IBIT) during the first quarter, bringing its holdings of the fund to nearly $700 million, according to a U.S. regulatory filing published Thursday—further evidence that spot Bitcoin ETFs are gaining traction among financial institutions.
Avenir held 14.7 million IBIT shares worth $688 million as of March 31, according to its filing,. That marks a 30% increase from the firm's IBIT ho...