New Alliance Aims to Replace Crypto Wallet Addresses with “.Wallet” Usernames

Source: Adobe / terovesalainen

A newly formed alliance consisting of the domain name provider Unstoppable Domains (NFT) and 30 of the world’s largest crypto wallets aims to establish “a new global standard” for crypto transactions without long alphanumeric wallet addresses.

Called the Wallet Alliance, the new group of wallet providers said they will develop the wallet address standard by making Unstoppable domains “easier to read.”Purse” domains.

Other members include Trust, Wallet, imToken, BRD Wallet, MyEtherWallet, Birdchain, Litewallet, 1inch, Nimiq Wallet, OWNR Wallet, Digifox, Klever, Coin Flip, and others. All members together represent 40 million users.

Unstoppable Domains is a domain name provider launched in 2018 that offers domain extensions tailored to the crypto space, including extensions such as .Crypto, .Bitcoin or .Nft.

The changes will take place “in the coming months,” the announcement said, adding that they will be implemented in the “most large wallets” covering more than 275 different digital assets.

“Through the foundation .Wallet as the username of choice for peer-to-peer payments, this alliance of wallets goes one step further with this unprecedented user experience,” said Matthew Gould, founder and CEO of Unstoppable Domains, in the announcement.

He also stressed that simplifying addresses and how they work globally in all wallets “will take away the fear and risk of spending crypto from many users and especially new crypto users.”

“We are confident that this collaboration will bring us closer to making wallets the standard for peer-to-peer crypto payments worldwide,” said MyEtherWallet founder and CEO Kosala Hemachandra.

According to the announcement, many of the participating wallet providers will “soon” add the option for their users to create one.Wallet username directly from your apps. However, a more specific schedule of when the new feature might be available to users has not been provided.