Ethereum have entered into an alliance with an end-to-end domain name provider Minds+Machines Group (MMX) to simplify domain names for users. As per the terms of the deal, Ethereum’s customers will be able to choose shorter domain names with the help of MMX’s soo to be launched .LUXE (Lets U Xchange Easily) registry that condenses long characters into memorable names.
Ethereum say that decentralized applications and blockchain as industries are emerging sectors within cryptography sector. They say that that this market (cryptography and their wallet systems) uses hash wallets that have long identity characters which can get difficult to manage and manoeuvre.
By partnering with MMX, Ethereum claim that they will be able to cater to their blockchain and cryptography customers in helping them shorten the 40-charactered complicated wallet hash identities. For e.g. a 40 character wallet hash (0x314159265..173c1259b) will be replaced by ‘Name of the wallet holder.LUXE’.
Ethereum believe that the process of replacing 40 character identifiers with relevant and user-friendly .LUXE names can also be applied to all Ethereum assets or services like smart contracts, distributed storage, DApps etc., making the potential market significantly broader than just the crypto wallet market.
MMX agree with Ethereum’s take on broadening the crypto wallet market. Toby Hall, CEO of MMX, said:
We already know from Ethereum’s test in its non-ICANN authorised .ETH zone that there is a real proven demand for word-based identifiers that are blockchain enabled, ENS having received deposits of over $28 million on approximately 300,000 seven character words and above in the .eth zone.
We are delighted to have developed a deep working relationship with the keyholders of ENS.