NFT area supplier Unstoppable Domains and an alliance of 30 of the highest crypto wallet has fashioned an alliance aiming to ascertain “a new global standard” for blockchain transactions, meant to interchange the not possible to memorize and prolonged alphanumeric wallet addresses we use in the present day.
Calling it the ‘Wallet Alliance’ the group consists of Trust Wallet, imToken, BRD Wallet, MyEtherWallet, Birdchain, Litewallet, Klever, CoinFlip, 1inch, Nimiq Wallet, OWNR Wallet, Digifox, Bitcoin.com, and others.
The ‘Wallet Alliance’ Represents 40 Million Users…
That’s sufficient customers to reply the query ‘will folks undertake it?’ with a probable sure.
“This alliance of wallets is taking this unparalleled user experience a step further” mentioned Matthew Gould, founder and CEO of Unstoppable Domains.
They additionally declare the customized wallet addresses will even work with 275 totally different digital belongings at launch.
Since the start folks have identified that present wallet addresses intimidate the common person…
Countless transactions over time have gone to addresses containing a typo that went unnoticed – typically with the sender promising they double checked, however nonetheless missed the error.
The proposal suggests a system the place a customized .wallet address akin to “johndoe.wallet’ would be owned by someone and configured to route transactions to the wallet of their choosing – so setup would still require working with the long wallet addresses we have now. But once that’s done they may never need to again.
According to the announcement, many of the participating wallet providers will “soon” add the option for their users to create a .wallet username directly from within their apps. However, a more specific timeline for when the new feature may be available for users has not been provided.
“This collaboration brings us closer to making wallets the standard for peer-to-peer crypto payments globally” said MyEtherWallet founder Kosala Hemachandra.
Not Yet Mentioned – The Price Tag…
There’s currently no information on how much a custom address will cost, and just like domains names you can expect prospectors to snatch up any predictably desired addresses to re-sell at a higher price.
The current system with it’s $0 per wallet price and the freedom to create as many as you want won’t be replaced anytime soon, but think of this as an option to make things easier.
I could see this becoming standard when a crypto based business is facing the general public, and everyday people as the address they put on their website/social media.
There is no specific launch date yet – but we’re told the wait ‘won’t be too long’ and people can expect to see a rollout ‘in the coming months’.
Author: Justin Derbek
New York News Desk