Cryptocurrency wallet addresses are long, complicated strings of letters and numbers that are difficult for most people to remember. They are also prone to errors if typed incorrectly, which can result in the loss of funds.
A solution to this problem is to use a Web3Domain as a substitute to the long, complicated wallet addresses. Web3 domains are decentralized names that are stored on the Ethereum blockchain, that can be used to point to a specific wallet address or smart contract.
By using a Web3Domain, users can easily remember and share their wallet address without the risk of errors. Instead of sharing a long string of letters and numbers, they can simply share their web3 domain name, which is easy to read and remember.
For example, instead of sharing the address “0x742d35Cc6634C0532925a3b844Bc454e4438f44e”, a user can share “mywallet.eth” as the wallet address.
Not only it makes it easy for the user to remember and share the address but also it’s less prone to errors as it’s human-readable.
Furthermore, Web3Domain can also be used to point to smart contracts on the Ethereum blockchain, allowing users to easily interact with them. This can be particularly useful for decentralized applications (dApps) and decentralized finance (DeFi) platforms, where users often need to interact with smart contracts to access various services and features.
In conclusion, web3 domains are a powerful tool that can be used to replace long, complicated wallet addresses with a single easy to read domain name. By using a web3 domain, users can easily remember and share their wallet address, and also easily interact with smart contracts on the Ethereum blockchain.
Web3Domain can be accessed using a variety of different tools and platforms, including Telegram, Chrome extension, and w3d.name.
Telegram: Telegram is a messaging app that can be used to access Web3Domain by using a Telegram bot. The bot allows users to fetch records from the blockchain and show instantly on messaging app without any extra installation.
Eg. /info jack.demo@eth displays it’s ETH wallet address.
Chrome extension: It allows users to easily view records, and also can point the domains to different resources on the web3 ecosystem.
Eg. Type jack.demo as domain name and click on visit. Which will display decentralized website hosted over IPFS.
w3d.name: w3d.name is a Web3Domain tool provider and also has option to allows users to view domain records instantly on the website itself. No plugins, extension need to get installed.
These tools allow users to easily view Web3Domains, and point them to different resources on the web3 ecosystem, such as decentralized websites, smart contracts, and other digital assets. By using these tools, users can take advantage of the decentralized nature of the web3 ecosystem, making it more resistant to censorship and control by centralized entities.