Useful for identifying cryptocurrency wallets and for facilitating crypto transactions in the metaverse, a blockchain domain is an easy-to-remember address for sending and receiving cryptocurrency, making transactions as easy as sending an email.
They are an asset generally on a permissionless or public blockchain, which anyone can join pseudo-anonymously and are secured through a smart contract, just like an NFT.
In layman's terms, blockchain domains aren’t stored on a server. Instead, they’re held in a public ledger or public registry which is accessible to anyone. Additionally, once a blockchain domain is minted, they live in your crypto wallet forever. No one can take them away as there are no renewal fees.
How do blockchain domains work?
Just like how domain names were invented because people found remembering long strings of IP numbers difficult, blockchain domains provide a human-readable name for crypto-wallets.
For example, Ethereum Blockchain developers created the...
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