Have you heard of Unstoppable Domains? If not, here’s a quick primer. The San Francisco-based startup operates the .ZIL domain name extension, and their goal is to replace those long confusing cryptocurrency addresses with something more logical…that hopefully will end with .ZIL.
In case you were wondering, yes – you could use any new domain extension and forward it to a cryptocurrency address but companies like Unstoppable Domains are putting an emphasis on value-added services specific to their mission. Unstoppable Domains provides a Dashboard that you can use when you buy or register a .ZIL domain specifically geared towards allowing you to transact using cryptocurrency.
Here’s the general way this would work. Let’s say someone wants to send you money, rather than giving a long cryptocurrency address, you give them a .ZIL domain, lets say you own, Bongo.zil. That person can now enter Bongo.zil into a wallet and the wallet will look up that domain on the blockchain, find the correct address, and send.
To help spread the word Unstoppable Domains is providing $250,000 in grants to help accelerate the use of .ZIL domains, here’s the scoop:
The Tim Draper-backed company, which aims to build “uncensorable websites” for both individuals and businesses on the Zilliqa blockchain, recently unveiled the second wave of recipients for its $250,000 Blockchain Domain Grant Program. The grants aim to fund digital wallet companies who agree to integrate the firm’s .zil domains into their infrastructure.(Source – Yahoo Finance)
Like most things in the crypto world, there’s a multi-step process to getting everything going, here’s where Unstoppable Domains is in the process.
I think this will be an interesting one to follow. It’s certainly a creative use of a new domain extension. What do you think? I want to hear from you, comment and let your voice be heard!