Binance US to offer branded web3 domain names on Polygon
Binance.US, the American affiliate of the world’s largest crypto change, has partnered with web3 area title supplier Unstoppable Domains to supply branded .BinanceUS addresses on Polygon.
The .BinanceUS domains shall be made obtainable completely by the change’s app within the coming weeks, Unstoppable Domains mentioned Wednesday. For the primary time, Unstoppable may also problem two-digit domains for BinanceUS prospects, reminiscent of 14.BinanceUS or 23.BinanceUS. It already additionally gives two-letter domains.
“Individuals can join the .BinanceUS waitlist instantly and we count on to begin launching the domains within the coming weeks,” Sandy Carter, chief working officer and head of enterprise growth at Unstoppable Domains advised The Block. “We do not have a particular date as of now, however we’ll hold the neighborhood posted.”
What are web3 domains?
Web3 domains are registered on a blockchain community, making them decentralized and immune to censorship. They simplify the method of sending and receiving cryptocurrencies, as customers can leverage a human-readable web3 area title (like yogita.crypto) as a substitute of an extended hexadecimal pockets handle.
With .BinanceUS domains, the change’s prospects will be capable to purchase, promote and ship cryptocurrencies inside its app. In the meantime, Unstoppable Domains prospects will be capable to use Binance.US to withdraw crypto to any Unstoppable area, together with their .crypto and .nft domains.
There are greater than 3.4 million web3 domains minted with Unstoppable and any of them can be utilized on Binance.US.
Based in 2018, Unstoppable Domains is a billion-dollar firm backed by traders, together with Pantera Capital and Coinbase Ventures. Its closest competitor, Ethereum Identify Service (ENS), gives .eth domains — like vitalik.eth — and has minted over 2.7 million domains.
.BinanceUS domains on Polygon
Whereas in contrast to ENS mints all its domains on Ethereum, Unstoppable Domains makes use of Polygon. Given fuel charges are concerned on Ethereum, ENS names might be expensive. Unstoppable’s domains haven’t any fuel or renewal charges, in line with its web site.
As for .BinanceUS domains, they may be capable to buy for as little as $10, Carter mentioned. Whereas Unstoppable domains are minted on Polygon, any self-custodied Unstoppable area might be bridged to Ethereum if most popular, in line with Carter.
“That is the primary time Binance.US is launching a digital identification to their neighborhood,” Nandini Maheshwari, vice chairman of enterprise growth at Binance.US, advised The Block. “.BinanceUS domains will simplify the crypto expertise for our neighborhood and allow customers to take possession of their digital identities.”
Binance.US, nonetheless, isn’t the primary firm Unstoppable has partnered with for branded domains. It additionally works with Polygon Labs and Blockchain.com to supply .polygon and .blockchain domains, Carter mentioned.
© 2023 The Block Crypto, Inc. All Rights Reserved. This text is offered for informational functions solely. It isn’t provided or meant for use as authorized, tax, funding, monetary, or different recommendation.
