AUSTIN, TX – 02/06/2024 – (SeaPRwire) – In a major leap forward for digital identity and asset security, Unstoppable Domains has unveiled its cutting-edge Multi-Party Computation (MPC) Wallet. This innovative wallet, designed to offer seamless user interactions, provides unparalleled control over digital assets and robust protection against theft or loss. The launch marks a significant advancement in simplifying the acquisition and management of digital assets, addressing a critical need in the evolving landscape of Web3 technologies.
Unstoppable Domains’ new wallet is engineered to integrate smoothly within the existing Unstoppable Domains (UD) workflow, making it easier than ever for users to mint domains and manage their digital assets. Similar to adding a website when purchasing a .com domain, users can now add a wallet to their domain during checkout. This streamlined process supports various essential functions on desktop platforms, including domain transfers, messaging, updates to crypto records, and executing transactions across major blockchains like Polygon, Ethereum, Bitcoin, Base, and Solana.
The core innovation of the Unstoppable Wallet lies in its use of Multi-Party Computation (MPC) technology. This advanced security measure divides the responsibility of private key management among multiple parties, significantly reducing the risk of compromise. To implement this technology, Unstoppable Domains has partnered with Fireblocks, a highly trusted custodian renowned for facilitating over $4 trillion in transactions across 170 million wallets. This collaboration ensures that no single entity holds complete control over key management, thus enhancing security and user confidence.
Matt Gould, the founder and CEO of Unstoppable Domains, emphasized the transformative potential of this technology: “Our goal is to bring the entire domain industry onchain. To achieve this, we needed to create a wallet that is simple enough for the average domain user. By leveraging MPC technology, we can offer backup and recovery options, enhanced security, and a user-friendly interface for domain owners.”
One of the standout features of the Unstoppable Wallet is its ability to prevent unauthorized access. Users can deactivate their wallet remotely if their device is lost or stolen, adding an extra layer of security. Moreover, the keyless design allows users to re-establish access on a new device using a password of their choice, eliminating the need for complex seed phrases.
The wallet also includes a robust password-based recovery system. During setup, users can opt into a recovery email service, ensuring they always have a secure method to regain access. This service sends a one-time-use encrypted link to a landing page on ud.me, where users can set a new passphrase to restore access to their wallet. This system eradicates the traditional single point of failure associated with private key storage, as the entire private key is never stored in one location.
Lisa Seacat DeLuca, Head of Engineering at Unstoppable Domains, highlighted the wallet’s user-centric design: “The key to broader adoption of blockchain technology is simplicity. Our new Unstoppable Wallet will feel more familiar to users accustomed to traditional web2 experiences. By allowing them to create and protect their assets with a password rather than an intimidating set of private keys, we can positively impact user interactions across the internet and multiple blockchain ecosystems. Now, user-owned crypto transactions can be as intuitive as using any other app.”
Designed with simplicity at its core, the Unstoppable Wallet provides straightforward guidance to ensure ease of use for both newcomers and experienced crypto users. The wallet’s roadmap promises further exciting developments, including an open API that will allow registrars, resellers, and other partners to offer the wallet, significantly broadening its reach into various ecosystems.
Michael Shaulov, CEO and Co-founder of Fireblocks, expressed his enthusiasm about the partnership: “We are thrilled to have the Unstoppable Wallet built on Fireblocks’ enterprise-grade infrastructure, providing maximum flexibility, the highest levels of security, and ease of use.”
The Unstoppable Wallet is available today at https://ift.tt/K6oZwWd. This launch represents a significant milestone in the journey toward a more secure and user-friendly Web3 environment, reinforcing Unstoppable Domains’ commitment to innovation and user empowerment.
Press Contact:
press@unstoppabledomains.com
About Unstoppable Domains:
Founded in 2018, Unstoppable Domains is a pioneer in Web3 domain name provision and digital identity platforms. The company is dedicated to onboarding the world onto Web3 by offering blockchain-minted domains that provide users with full ownership and control over their digital identities, with no renewal fees. With Unstoppable Domains, users can replace complex alphanumeric crypto wallet addresses with human-readable names, facilitating seamless logins and transactions across over 720 apps, wallets, exchanges, and marketplaces. In 2022, Forbes recognized Unstoppable Domains as one of America’s Best Startup Employers.
SOURCE: Unstoppable Domains
by Arrow123
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