The Web3 Domain Alliance is a member-led, member-driven organisation that aims to improve the technological and public policy environments for users of Web3 naming services. Founded in 2022, the organisation promotes the development of the Web3 naming industry and the functioning of Web3 domain registries with and across blockchain-based and traditional web applications.
The new members include Blockchain.com, Rarible, Wyre, Bitdegree, WazirX, Klever, Doge Wallet, OMNI, Talent Protocol, Indacoin, MarkMonitor, Revest Finance, Coreum, Cian, LunarCrush, Web23, WAM, NFTrade, XcelPay, Klever, KICA, Wirex, and Puma Browser, as well as other naming systems, companies, and projects.
Unstoppable Domains, a founding Alliance member, will support the ongoing development of digital identity technology in Web3, and to this end, it has irrevocably agreed not to assert against Alliance members its patents that are necessary to adopt the Alliance’s interoperability and security standards.
Web3 Domain Alliance members will tackle topics such as interoperability of blockchain naming systems, fair use of intellectual property, preventing naming collisions, and consumer protection. Unstoppable Domains officials expressed their desire to work with the new co-members to explore the potential of the Web3 domain space and to support new ideas and innovation while enabling more people to own their digital identity.
According to the company press release, Web3 domains are becoming more popular, as more than 3.4 million domains were created across the industry in 2022. Unstoppable Domains explains that Web3 domains represent a suite of smart contracts or software written on a public blockchain.
With Web3 domains, instead of one company controlling a user’s online data, the power is transferred back to the user. Since the data is built on blockchains, anyone can look at it, which creates a sense of openness and transparency. Moreover, since only users are able to make any changes to their Web3 domains, there is the benefit of improved security against hacking or stolen domains.
Other noteworthy features of Web3 domains include the ability to simplify crypto transactions by replacing complex wallet addresses with domain names acting as usernames, as well as the ability to log in to apps using a domain name as a universal web3 username. Users can also leverage Web3 domains to create and host websites, including personal websites or NFT galleries, or to receive coins and tokens across multiple blockchain networks.
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