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The Fantom Foundation, a body dedicated to building the infrastructure for a more democratic and efficient future of the project, just announced that Unstoppable Domains integrated Fantom. This is a move of great importance for the project, as its users can now pick and reserve a domain name that will serve as their own universal Web3 address.
The move and the ability to reserve a domain name will lead to a number of new opportunities and benefits, including simpler crypto payments, a Web3 single sign-on, as well as lifetime ownership of the address.
💲 Simpler crypto payments
🖱️ Web3 single sign-on
⚡ Lifetime ownership
See how to get started 👇 https://t.co/QKhLCxZgal
— Fantom Foundation (@FantomFDN) October 7, 2022
The importance of Unstoppable Domains
Unstoppable Domains has quickly won the hearts and minds of the crypto industry by replacing one of the more complex aspects of the process behind sending a payment with a very simple, user-friendly one. Crypto wallet addresses were designed to be clear and understandable to computers and algorithms, but not people. In their original form, they are long strings of seemingly random letters and numbers, and while systems know exactly how to read it and where to send the money, users cannot memorize them.
Not only that but typing them in manually can easily lead to a mistake that could cost the user their funds. If they happen to send a payment to a wrongly typed address, the money will be lost forever, as the payment process in the crypto industry is irreversible. With Unstoppable Domains, users can turn all of their complex addresses into easily readable names and send, receive, or store coins and tokens safely in a simple domain.
What are the benefits for Fantom’s users?
The project’s integration is big news for Fantom users, as it allows them to obtain such easily readable domain names permanently. Until now, they had to use 42-character wallet addresses, which made payments risky and complicated. Now, they can choose a domain name and enjoy a number of benefits, such as having their name used across Web3, using a single domain username to replace over 275 coin and token addresses, and even easily verifying their identities, effectively replacing email addresses and passwords.
Unstoppable Domains can even help users prove their identities across numerous Web3 platforms, such as DAOs, thanks to their “Humanity Check” feature. And, as mentioned, users can get lifetime ownership of the domain name. Unstoppable Domains’ services are extremely affordable, starting as low as $5, with no renewal fees, and since the domain lives securely inside the users’ crypto wallets — no one can tamper with them.
Getting a domain name is simple as well, and all that users need to do is go to Unstoppable Domains, search for a domain name that they wish to purchase, add it to their cart, proceed to checkout, and pay with Store Credit, Promo Credit, debit card, PayPal, Crypto.com app, or just make a regular cryptocurrency payment. After that, there is a simple online guide on how users can activate the NFT domain and take control of their online identity.
To learn more about Fantom, visit our Investing in Fantom guide.
Ali is a freelance writer covering the cryptocurrency markets and the blockchain industry. He has 8 years of experience writing about cryptocurrencies, technology, and trading. His work can be found in various high-profile investment sites including CCN, Capital.com, Bitcoinist, and NewsBTC.