Crypto Wallets Explained: What are Verified Wallet Domains? скачать в хорошем качестве

Crypto Wallets Explained: What are Verified Wallet Domains?

Crypto Wallets Explained: What are Ethos Verified Wallet Domains? Each cryptocurrency wallet has an address - often a long set of digits and characters. An Ethos Wallet domain is a plain English name - like “Johns Wallet” or “ABC Car Rental” - that users can reserve for their wallet. You can think of a Wallet Domain like an email or a website address. Once a Wallet Domain is registered, it is unique and linked directly to your wallet. This can be used to protect a brand, or simply reserve your name on the blockchain. Ethos tokens are used to reserve wallet domains. By keeping a minimum amount of tokens in a wallet, the domain is reserved and dynamically linked to the underlying blockchain address. This process reduces domain squatting or and fraud by forcing utilization of a limited resource, similar to how Ethereum allocates compute resources on its network. Wallet Domains can also be verified. In this process, the identity of the user or business is confirmed and certified. This builds trust by turning anonymous blockchain addresses into confirmed identities. Because the Ethos Universal Wallet supports a wide variety of cryptocurrencies, a single wallet name can be used to accept a wide variety of coins. Wallet Domains are simple way to protect your brand, create single payment point and build trust - all important things to make cryptocurrencies accessible to a mass audience. If you enjoyed this video, don't forget to give us a Thumbs Up & make sure to hit the Subscribe Button for more informative videos on Blockchain Technology & Cryptocurrencies! To learn more about all these Cryptos, visit the Cryptopedia at Ethos.io