AUSTIN, TX / ACCESSWIRE / May 30, 2024 / Leading Web3 domains and digital identity provider Unstoppable Domains today announces the launch of its Multi-Party Computation (MPC) Wallet. Engineered for seamless user interactions, this wallet gives the user ultimate control and safeguards assets against theft or loss, ensuring protection for all users.
The Unstoppable Wallet is designed to simplify acquiring and managing digital assets. It supports minting domains directly within the UD workflow. Just like adding a website when buying a .com domain, a user can add a wallet to their domain at checkout.
The wallet supports a variety of essential functions on the desktop. Wallet functionality includes domain transfers, messaging, updates to crypto records, and executing transactions across major blockchains, including Polygon, Ethereum, Bitcoin, Base, and Solana.
MPC technology splits the responsibility of private key security across multiple parties, reducing the risk of compromise. Unstoppable Domains has partnered with Fireblocks-a trusted custodian that has facilitated over $4T+ transactions over 170m wallets -to integrate this cutting-edge technology, ensuring no single party controls key management.
Matt Gould, founder and CEO at Unstoppable Domains, said, "We want to bring the entire domain industry onchain. To do that we needed to make a wallet simple enough for the average domain user. Using MPC technology we're able to offer backup and recovery, enhanced security, and a simple interface for domain owners."
The wallet incorporates the ability to prevent unauthorized access by allowing users to deactivate their wallet remotely in the event their device is lost or stolen.The keyless solution also allows users to re-establish access on a new device using a password of their choice.
Password-based recovery is also included in the wallet's list of features to enhance security and convenience for users. During setup, users can easily opt into a recovery email, ensuring they always have a secure way to recover their wallet access. This email contains a one-time-use encrypted link to a landing page on ud.me, where users can set a new passphrase to regain access to their wallet. No more seed phrases - users just need to remember a password. With the Unstoppable Wallet, users can recover their domain wallet as long as they have their password (or have it backed up locally). This method eliminates a single point of failure since the whole private key is never stored in one location.
Lisa Seacat DeLuca, Head of Unstoppable Domains Engineering, said, "The key to broader adoption of blockchain technology is simplicity. Our new Unstoppable Wallet will feel more like what users expect from traditional web2 experiences - creating and protecting their assets with a password rather than an intimidating set of private keys. This will have positive effects on users interacting in the internet and across multiple blockchain ecosystems. Now, user-owned crypto transactions can be as intuitive as using any other app."
The Unstoppable Wallet is crafted with simplicity in mind. To that end, it is equipped with straightforward guidance to ensure ease of use for both newcomers and experienced crypto users. The wallet's roadmap promises exciting developments. Notably, an open API will soon allow registrars, resellers, and other partners to offer the wallet, significantly broadening its reach into other ecosystems.
"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," commented Michael Shaulov, CEO and Co-founder of Fireblocks.
The Unstoppable Wallet is available today at https://unstoppabledomains.com/
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About Unstoppable Domains
Launched in 2018, Unstoppable Domains is a Web3 domain name provider and digital identity platform working to onboard the world onto Web3. Unstoppable Domains offers Web3 domains minted on the blockchain that give people full ownership and control of their digital identity, with no renewal fees. With Unstoppable Domains, people can replace lengthy alphanumeric crypto wallet addresses with a human-readable name and log into and transact with more than 720 apps, wallets, exchanges and marketplaces. The company was named by Forbes as one of America's Best Startup Employers in 2022.
For more information, please visit: https://unstoppabledomains.com/
SOURCE: Unstoppable Domains