Fantom Moves to Integrate With Unstoppable Domains
On Friday, Fantom announced its integration with Unstoppable Domains. As stated by Fantom, this move would enable its over 3.5 million users to get a universal web3 address through domain name purchasing.
Fantom is an EVM-compatible layer-1 platform based on the aBFT consensus protocol. The Fantom network promises its users that they will experience high throughput, low transaction costs, and speed when using DeFi applications and use cases.
Users on the Fantom network have been employing sophisticated mnemonic wallet addresses, which complicate tasks such as payments. Furthermore, the 42-character lengthy addresses make it challenging for users to link their identity to their wallet via web3 platform account verification or while obtaining reputation-based incentives.
Unstoppable Domains was founded in 2018 as an NFT domain name provider and digital identity platform with the goal of bringing a thriving community of individuals on board with Web3. Unstoppable Domains’ NFT domains are generated on the blockchain to provide people ownership and control over their digital identity while charging no fees.
Users can register an address on the Unstoppable Domains platform, which they can then hold in their wallet as ERC-721 tokens, similar to NFTs. Users who own the address maintain sole ownership of the NFTs and can use it as a username, FTM crypto address, and so forth.
According to the release, Phantom users would benefit from:
- Digital identity throughout web3 platforms
- No separate addresses for multiple wallets
- Simple and secure logins
- Identity Proof
- No renewal charges
Fantom CEO Michael Kong stated:
“Unstoppable Domains has been at the forefront of decentralized domains for years, and is a pioneer in the Web3 space.”
“We are thrilled to work alongside Unstoppable Domains to bring these domain names to the Fantom Network, and to further simplify the movement of digital assets for our users.”
As of July, Unstoppable Domains had 2.5 million domains registered and was integrated with over 150 Web3 programs. The NFT naming service already supports over 80 wallets and exchanges, and the integration with Fantom increases that number.
Sandy Carter, SVP and Channel Chief of Unstoppable Domains stated:
“The number of use cases for NFT domains continues to grow. We are excited to work with Fantom Foundation to help improve crypto payments, and bolster the wider Web3 landscape.”
The integration with Unstoppable Domains follows recent Fantom innovations targeted at optimizing Fantom network processes. Most recently, the team announced its Watchdog project in cooperation with blockchain security startup Debaub to provide automatic audits to decentralized applications (dApps) deployed on the Fantom Mainnet.