Top-tier India-based crypto exchange platform Unocoin has reportedly finalized the adoption of the blockchain-powered Unstoppable Domains.
Specifically, the alliance between Unocoin and Unstoppable Domains – a tool for making crypto transactions, via turning addresses into human-readable web URLs – is reportedly expected to bring down remittance costs, and offer simplification to the transaction process for the exchange’s 1.2 million users.
The entity reportedly also offers users a method for forming simple URLs ending in “.crypto” and “.zil” extensions. Domains names will be a one-off purchase, and will exist permanently across the blockchain, without the involvement of any renewal or maintenance fees.
The decentralized side of Unstoppable Domains should reportedly capture the attention of crypto users situated in India, particularly during the time the Finance Ministry’s decision to prohibit Bitcoin and other crypto coins is still in effect, which is experiencing significant opposition from people via social media channels.
Despite the insufficient clarity for regulations, the co-founder and CEO of Unocoin, Sathvik Vishwanath, reportedly viewed the adoption of Unstoppable Domains as a development fitting with the maturation of the Indian crypto sphere.
“The cryptocurrency space is maturing. In line with the growth of the industry, Unocoin aims to offer its users the best possible experience. Integrating the .crypto domain is a significant step not only for Unocoin users, but also for additional exchanges in the country exploring simpler and more user-friendly options for their users.”