Unstoppable Domains Launches New MPC Wallet
Date: 2024-05-31 Author: Henry Casey Categories: BUSINESS
New product announcement
Domain provider Unstoppable Domains has announced the launch of a new distributed computing (MPC) wallet. The new product was developed in partnership with Fireblocks, a company known for its solutions in the field of custodial services. The Unstoppable Domains team announced this in a press release.
Unstoppable Wallet features and capabilities
The new wallet, called Unstoppable Wallet, provides users with a wide range of features aimed at conveniently managing domain names and cryptocurrencies. Here are the key features of the wallet:
- Buying and transferring domain names: Convenient interface for purchasing and transferring domain names across various networks.
- Messaging: Possibility of secure messaging.
- Transactions on various networks: Supports transactions on the Polygon, Ethereum, Bitcoin, Base and Solana networks.
- Flexible domain name management: Advanced options for managing and customizing domain names.
Benefits of MPC technology
Distributed computing (MPC) technology allows the wallet key to be shared among multiple parties, significantly reducing the risk of it being compromised. This solution provides increased safety and reliability, the project team emphasizes.
Partnership with Fireblocks
Unstoppable Wallet was developed in collaboration with Fireblocks, which processes over $4 trillion in transactions and manages over 170 million wallets. This partnership guarantees high quality and reliability of the new product.
Simple and secure interface
Unstoppable Domains founder Matt Gould noted the importance of the new wallet's ease of use:
“We want to transfer the entire domain industry to on-chain. To do this, we needed to make the wallet simple enough for the average domain user. Using MPC technology, we can offer backup and recovery, enhanced security and a simple interface.”
Unique Security Features
One of the unique features of Unstoppable Wallet is a “kill switch” that allows you to remotely deactivate your wallet in the event of theft or loss, preventing unauthorized access. Users can restore access on a new device, providing additional protection for their assets.
Setting up and restoring your wallet
The wallet setup process involves choosing an email to log in to and creating a new password. Users receive a one-time link to set up a password via ud.me, eliminating a single point of failure and allowing users to restore access to funds using a new password or a backup stored locally on the device.
The path to mass adoption of blockchain technologies
Head of Engineering Lisa Sicat DeLuca emphasized the importance of ease of use of blockchain technologies:
“The key to wider adoption of blockchain technology is simplicity. Our new Unstoppable Wallet will be more like what users expect from traditional Web2 - creating and protecting their assets with a password rather than a scary set of private keys. This will have a positive impact on users interacting online and in various blockchain ecosystems. Now, cryptocurrency transactions can be as intuitive as using any other app.”
Open API and integration
Unstoppable Wallet will be available with an open API, which will allow third-party developers to integrate it into their projects. This will expand the possibilities of using the wallet and its functionality in various ecosystems.
The launch of the new MPC wallet Unstoppable Wallet represents an important step in the development of Unstoppable Domains. Using advanced technologies such as MPC and collaboration with Fireblocks, we can offer users a simple and secure solution for managing domain names and cryptocurrencies.
