26/11/19 06:10 UTC-5

Unstoppable Domains has allocated $1 million for blockchain domains in applications

The American blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details
company has announced the launch of a domain name grant program. Representatives of Unstoppable Domains allocated funds for accelerated adoption of blockchain domains in all types of applications, according to a company blog post.


Unstoppable Domains creates simple wallet addresses

The goal of the blockchain company program is to facilitate the creation and maintenance of online resources for cryptocurrency wallets, browsers and applications. Unstoppable Domains employees believe that supporting several different cryptocurrency applications will lead to the creation of a robust ecosystem of domain chains.

Unlike traditional .com domains, blockchain domains are assets on the blockchain that replace cryptocurrency addresses with human-readable names. This allows users to use their .zil and .crypto domain names when receiving crypto-payments, as bitcoin news reports. 

For example, if a user wants to pay someone using Bitcoin, he requests the address of the recipient's cryptocurrency (the BTC address will look like this: “1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2”). Then the user goes to his wallet and copy the address, paste it into an email to send. The recipient will open the email, copy and paste the address into his wallet and complete the payment. The blockchain domain resolves the issue in favor of a more memorable and less error prone domain.

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See also: "Completion of Ripple's deal with MoneyGram payment company for $50 million"

#blockchain #UnstoppableDomains #Bitcoin #domainnames #cryptocurrencyaddress

Editor: Daria Mukhina