Web3 Domain Based Wallet
Having a single domain name to use as a crypto wallet has been made possible by Unstoppable Domains and a couple of other Web3 projects. It allows for a single domain name to be used to receive crypto currencies, nfts and other immutable tokens from distributed ledger technologies
It is now possible to mint unstoppable domains without paying gas fees by deploying the wallet on the Polygon network. On November 15th Unstoppable domains are expected to enable a widescale distributed domain name wallet system where people can turn their usernames into crypto wallets with a wide range of extensions, allowing for personalized decentralized realities become available for all Web3 adopters
This is the second domain that’s cryptopticon has minted, with the first being deployed on the L1 Ethereum implementation incurring $30+ gas fees. The L2 implementation uses the Polygon network and is now a feeless service, currently domains can be minted in preparation to having a Web3 domain based wallet
Polgon is a leading network for Ethereum scaling and provides infrastructure solutions for blockchain technologies. The underlying architecture is built around EVM Compatability along with faster and cheaper transactions.
Unstoppable Domains are using Polygon to prevent their users to pay high gas fees to claim ownership of domains, gas fees currently ranges in price from $33 up to $125, this has now been removed through the adoption of the Polygon network that builds infrastructure for companies that interact with the Ethereum network, whilst also being able to process transactions on their own networks.