- Unstoppable Domains is making headlines as it expands its services to the Ethereum Layer 2 network, Base, developed by Coinbase.
- This strategic move reflects the growing importance of scalable solutions within blockchain ecosystem.
- “As a fully EVM-equivalent blockchain, Base allows developers to easily port existing Ethereum applications,” the company stated, showcasing its commitment to fostering innovation.
This article delves into Unstoppable Domains’ latest expansion onto Coinbase’s Base and its implications for the future of blockchain scalability.
Unstoppable Domains Expands to Ethereum Layer 2 Base
Unstoppable Domains is a pioneering platform that revolutionizes the way users interact with blockchain technology by providing human-readable wallet addresses. The company’s latest move to expand onto Base, a Layer 2 network powered by Ethereum, signifies a crucial step in enhancing user experience and reducing transaction costs. This expansion comes after the platform’s successful integration with Polygon and the Ethereum mainnet, underscoring its commitment to maximizing accessibility and usability across multiple blockchain networks.
Understanding Base and Its Impact on Transaction Efficiency
The Ethereum Layer 2 ecosystem is continuously evolving, with Base emerging as a significant player. Built utilizing Optimistic rollups, Base enhances transaction throughput on Ethereum’s original layer, enabling users to benefit from lower gas fees. Comparatively, Polygon employs zero-knowledge proofs, further diversifying the landscape of Layer 2 scaling solutions. As developers increasingly explore the capabilities of Base, the network commands approximately 17% of the Layer 2 market share, indicating its growing relevance in the DeFi and NFT sectors.
The Future of Domain Services in Blockchain
Unstoppable Domains offers a transformative alternative to traditional domain name registration by utilizing blockchain technology. Unlike conventional domain services, Unstoppable Domains allows users to own blockchain-based names such as .crypto, .coin, and .blockchain, which are stored on public ledger systems. The unique nature of these domains not only facilitates easier transactions but also enables users to host websites on decentralized platforms like the InterPlanetary File System (IPFS), promoting a more open and resilient internet.
Recent Developments and Controversies
The company raised considerable attention when it secured $65 million in Series A funding in 2022, giving it a valuation of $1 billion. This influx of capital is expected to accelerate product development and user acquisition. However, the company has faced scrutiny following allegations from its chief competitor, Ethereum Name Service (ENS), regarding claims of patent infringement relating to open-source software. The outcome of this controversy will play a crucial role in shaping the competitive landscape of blockchain domain services.
Conclusion
The expansion of Unstoppable Domains onto the Base network is a noteworthy milestone in the ongoing evolution of blockchain ecosystem. By providing human-readable names, the company not only enhances the user experience but also drives the adoption of decentralized technologies. As the competition in the domain registration space intensifies, the implications of Unstoppable Domains’ innovative approach will be pivotal in determining the future trajectory of blockchain identity solutions.
