After CryptoKitties, the Ethereum blockchain again has an application that has been the most active on its network recently. Following the launch of its .crypto registry for blockchain domain names, Unstoppable Domains has stormed to the top of the most active dApps (decentralized applications) on Ethereum. Over 30,000 .crypto transactions were processed by users within 24 hours of the service launching.
Why Do I Want A .crypto Domain?
San Francisco-based Unstoppable Domains is building domain registries on blockchains. But why would you want one?
For starters, having the domain registry held on a blockchain means that websites using that domain cannot be blocked or censored.
But for many users, perhaps the key reason for having one is the ability to attach digital asset wallet addresses to the domain name. This enables simplified cryptocurrency payments without the need for unwieldy text strings. Unstoppable Domains Co-Founder, Brad Kam explained:
This new standard for cryptocurrency payments improves the user experience by replacing long, complicated addresses with a single, easy-to-read, human name. Not only can users attach more than 50 different crypto addresses to their .crypto domain to receive payments, but users can also use the same domain to launch censorship-resistant websites.
The company has so far registered over 180,000 blockchain domain names, including 100,000+ .zil domains, the first extension it released. The venture is notably backed by renowned Bitcoin bull, Tim Draper, who recently gave a $250k bitcoin price target in the next few years.
Top dApp on Ethereum
Unstoppable Domains’ rise to the most active dApp on the Ethereum blockchain was detailed on monitoring service Dapp.com. Its 30k transaction count dwarfed that of its closest rivals, which struggled to achieve even 5,000 transactions in a 24-hour period.
As Bitcoinist reported yesterday, recent research suggests that the Ethereum platform is streets ahead of challengers like EOS and Tron when it comes to dApps. User base, network value and activity are all up, over the second half of 2019, despite the price of ETH being down.
What do you think of Ethereum as a decentralized application platform? Share your thoughts below.
Image via Bitcoinist Media Library
