Integration Expands Wallet Interoperability for Fantom’s 3.5M Users
SYDNEY, Australia, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Fantom, one of the fastest growing layer-1 blockchain platforms, today announced its integration with Unstoppable Domains, the leading platform for Web3 digital identity with more than 2.5 million registered NFT domains. Starting today, Unstoppable Domains will support the Fantom network, and allow Fantom’s more than 3.5 million users to benefit from the simplified movement of digital assets via human-readable wallet addresses.
Cryptocurrency continues to become more commonplace and integrated into mainstream culture, evidenced by a recent survey from The Ascent which found that 46.5 million Americans were likely to purchase cryptocurrency within the next 12 months. Despite the growing interest in digital assets, fear, trepidation and misunderstanding of crypto grew in lockstep. Currently, 79% of Americans are concerned about crypto scams, and another 17% of Americans admitted to not investing because they simply don't know what to do with cryptocurrency.
To alleviate these pain points and, ultimately, make crypto easier to navigate, Unstoppable Domains’ NFT domains serve as a payment hub with human-readable addresses where users can transact with more than 275 different digital currencies. Fantom anticipates the collaboration will be a critical next step toward a unified and frictionless cryptocurrency ecosystem.
"Unstoppable Domains has been at the forefront of decentralized domains for years, and is a pioneer in the Web3 space,” said Fantom CEO, Michael Kong. “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.”
The integration with Unstoppable Domains will deliver the following benefits to users of the Fantom network:
- Simplified Transactions: Unstoppable Domains replaces longform cryptographic addresses into one easily readable name.
- Identity Ownership: With NFT domains, surnames are no longer tied to a single website or app.
- User Verification: Unstoppable Domains “Humanity Check” feature proves user identity without revealing personal data.
Sandy Carter, SVP and Channel Chief of Unstoppable Domains, added, “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 the Unstoppable Domains follows recent Fantom developments aimed at streamlining processes on the Fantom network. Most recently, the team unveiled its Watchdog initiative in collaboration with blockchain security firm, Debaub, to deliver automatic audits to decentralized applications (dApps) developed on the Fantom Mainnet.
To register for an NFT domain and transact with Fantom, visit www.unstoppabledomains.com.
About Unstoppable Domains:
Founded in 2018, Unstoppable Domains is an NFT domain name provider and digital identity platform working to onboard the world onto Web3. Unstoppable Domains offers NFT domains minted on the blockchain that give people full ownership and control of their digital identity, with no renewal fees. With Unstoppable Domains, people can replace lengthy alphanumeric crypto wallet addresses with a human-readable name and log into and transact with apps, wallets, exchanges and marketplaces. The company was named by Forbes as one of America's Best Startup Employers in 2022.
Fantom is a fast, scalable, and secure layer-1 EVM-compatible platform built on a permissionless aBFT consensus protocol. On Fantom, transactions are confirmed in about 1 second and cost just a few cents. Speed, low transaction costs, and high throughput make Fantom ideal for DeFi applications and real-world use-cases.
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