On October 7, 2022, Fantom announced its merger with Unstoppable Domains. This step would allow consumers to obtain a universal Web3 address by purchasing a domain name.
Unstoppable Domains has integrated with the Fantom network to allow more than 3.5 million users to create human-readable wallet addresses. The benefits of the integration include the following: simplified transactions, identity ownership, and user verification.
Fantom is an EVM-compatible layer-1 platform based on the aBFT consensus protocol. For DeFi applications and use cases, the Fantom network guarantees speed, low transaction costs, and high throughput.
Users on the Fantom platform have been employing complicated mnemonic wallet addresses, which make actions like payments more difficult. Furthermore, the 42-character lengthy addresses make it impossible for users to link their identity to their wallet via Web3 platform account verification or while obtaining reputation-based benefits.
Unstoppable Domains was founded in 2018 as an NFT domain name supplier and digital identity platform with the goal of bringing a large user base into Web3. Unstoppable Domains’ NFT domains are coined on the blockchain to provide people with ownership and control over their digital identity while charging no fees.
Unstoppable Domains filed a lawsuit against Gateway Registry after the firm established identical wallet domain services under the Handshake system. Gateway Registry’s legal lawsuit is being funded by competitor Namebase.
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