Domain-powered Transfers: Huobi Wallet in Unstoppable Domains Deal – Cryptonews

Domain-powered Transfers: Huobi Wallet in Unstoppable Domains Deal 101
Source: Adobe/Igor

Huobi Group‘s multi-chain Huobi Wallet has teamed up with Unstoppable Domains, a San Francisco-based company that builds domains on blockchain networks, enabling wallet users to transfer their cryptocurrencies using .crypto domains. Besides aiding crypto adoption, say the companies, this will also enable Unstoppable Domains move into the Chinese market.

Per an emailed press release, long cryptographic addresses have been “hindering mainstream crypto adoption.” And the solution to this, the companies say, is making addresses shorter and simpler – and incorporating standards. Unstopable Domains’ website claims that these domains do away with “worrying about sending to the wrong address.”

Huobi Wallet has thus announced support for .crypto blockchain domains, which means that users can type in another person’s domain – rather than a traditional address – into the send field and send them tokens.

Will Huang, the CEO of Huobi Wallet is quoted as saying that the crypto industry is “still in its infancy” and that “user experience is one of its challenges for mass adoption.” He says that this partnership will help improve user experience “by replacing cryptocurrency addresses with a human readable name.”

Huobi Wallet, per its website, supports bitcoin (BTC), ethereum (EHT), ethereum classic (ETC), litecoin (LTC), huobi token (HT) and the stablecoin tether (USDT), as well as other cryptocurrencies.

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