StormGain DEX, a leading European decentralized crypto exchange, is aiming to simplify access to its platform by replacing complex wallet addresses with more user-friendly, human-readable names. To achieve this, StormGain is partnering with Unstoppable Domains, a company that has already registered over 2.5 million easy-to-remember blockchain addresses since its inception in 2018.
Unstoppable Domains allows users to create a unique, crypto-centric domain extension to replace their long, difficult-to-remember wallet addresses. Imagine replacing a 37-character hexadecimal string with a memorable name like “hotdog.bitcoin” or “superman.blockchain.” This approach, which leverages non-fungible tokens (NFTs), is already supported by more than 300 decentralized applications.
StormGain believes that collaborating with Unstoppable Domains will not only offer users enhanced security but also more convenient access to its platform. With human-readable addresses, the risk of making mistakes during transactions is minimized, reducing the likelihood of losing funds due to input errors.
Moreover, Unstoppable Domains is now an additional authorization method for StormGain DEX users. This means users can access the platform and trade cryptocurrencies directly with any wallet linked to their Unstoppable Domains account, thereby simplifying the onboarding process and bolstering security.
To encourage the adoption of Unstoppable Domain wallet addresses, StormGain is giving users a 25% discount on any domain purchased. This promotion runs for five days and is automatically applied at checkout when users register a new address.
StormGain is optimistic that this partnership with Unstoppable Domains will help transform how people interact with and own crypto assets. The company is committed to delivering the best possible crypto trading experience for its users.
However, critics argue that such human-readable addresses could result in monetizing popular names, leading to domain squatters and potentially even scams. Therefore, it is crucial to remain vigilant, and as the technology becomes more prevalent, we must find ways to mitigate these potential issues.
In conclusion, the partnership between StormGain DEX and Unstoppable Domains looks promising in their efforts to simplify crypto trading and improve the user experience. While the benefits of human-readable wallet addresses are evident, it is crucial to address potential drawbacks with the technology responsibly to ensure continued growth and adoption.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: Cryptodaily
https://www.cryptodaily.co.uk/2023/04/stormgain-and-unstoppable-domain-human-readable-crypto-wallets
