MyEtherWallet (MEW) users are now able to send and receive ETH and ERC-20 tokens using their own personalized “human-readable” address instead of the standard 42-character public key.
Unique addresses can be created on MEW in the form of “[name].crypto,” powered by Unstoppable Domains, a blockchain registry startup funded by Draper Associates and the Ethereum Foundation. Unstoppable Domains CEO Matthew Gould commented:
“Blockchain domains enhance the payment experience for cryptocurrency users. Our collaboration with MEW allows users to replace complicated crypto addresses with human-readable names. This is an important step towards onboarding the next billion people into cryptocurrency.”
San Francisco-based Unstoppable Domains has to date integrated its “.crypto” address feature into 15 different wallet applications including Binance-owned Trust Wallet, IM Token, and Zilliqa wallet ZilPay, and as a result of the new tie-up with MEW, will be offering its existing user base MEW tools like token swaps and the MakerDAO DeFi portal.
In practice, when users type a recipient’s “.crypto” string into MEW, the wallet automatically searches the Ethereum blockchain for the address registered to that domain and inputs said address. The domains also double as names for Ethereum-based websites, and unlike conventional domains do not require renewal or escrow agent to facilitate the transfer of ownership.
MEW CEO Kosala Hemachandra said in a press release the initiative will make the user experience “easier and friendlier,” while making it significantly harder for funds to be sent to the wrong address.Posted In: Ethereum, Adoption