Will Let People Use Human-Readable Usernames In Blockchain Transactions

An anonymous reader quotes a report from VentureBeat: will let people use human-readable usernames in blockchain transactions thanks to a partnership with Unstoppable Domains. San Francisco-based now supports Unstoppable Domains, a domain name provider for blockchains, which are the secure and transparent digital ledgers behind cryptocurrencies. That’s a big deal because is the world’s largest crypto wallet provider, and people have been stumbling around with encoded names that are impossible to remember. And when people lose these names for their wallets or the passwords that go with them, they are often unable to recover their names. This particular deal won’t help you with your passwords, but it does help with usernames. And that helps people send money to each other more easily, with fewer mistakes. Traditionally, sending Bitcoin, Ethereum, Doge, and other cryptocurrencies requires entering the recipient’s 25- to 42-digit alphanumeric wallet address, said Matthew Gould, CEO of Unstoppable Domains, said in an interview with VentureBeat. If a person mistypes or miscopies a wallet address, those funds can be lost forever. Now, instead of “156i6HJfMWb1h2BEsKpfvZ2tQugqo4vs2w,” users can simply type “[YourName].crypto” to send money to others or transfer it between accounts.

“What is funny is this is a case of history repeating itself because we did the exact same thing with computer networks in the 90s, where the very first way to look up websites was actually using IP addresses,” Gould said. “You actually had to remember long strings of numbers in order to find the very first content on the internet. And then they invented a naming service for those so that you could use .com names. It’s a very similar thing.”