The growing relationship between cryptocurrency and domains

You would have to be living under a rock to have not heard about the growth of cryptocurrency lately. With Bitcoin reaching a record value of around $10,000 and Etherium continuing to creep toward further adoption, more businesses and individuals are considering ways that cryptocurrency could be worked into daily monetary transactions. These are just two of the ways we’re seeing domain names associated with cryptocurrency.

Amazon is scooping up domains related to cryptocurrency

Those in the domain industry recently noticed that Amazon secured the domains amazonethereum.com, amazoncryptocurrency.com, amazoncryptocurrencies.com. They also own the domain amazonbitcoin.com, which was registered several years back. Although Amazon representatives claimed that they have no immediate plans to accept cryptocurrency transactions, it’s rather telling that they are registering these domains for their brand anyway.

Domains are replacing cryptographic addresses

When using a cryptocurrency wallet to make a purchase, you would normally have to type out the entire cryptocurrency string. But domains are simplifying the process by giving each string a unique identity,

The .ETH domain, intended for the blockchain computing platform Etherium, can now be purchased by individuals who want to perform transactions with Ether. A .ETH domain can be pointed towards a wallet or contract so that transactions can be simply and securely performed between two parties.

But the .ETH domain is not the only TLD upon which Etherium transactions can be made: The .XYZ registry has also jumped into the fray. Etherium mapping capabilities are now available on .XYZ domains using DNSSEC. With the introduction of .XYZ’s 1.11B Class, which lowers the price of numerical string domains to just $0.99 per year, it’s an affordable option for cryptocurrency investors.

We’re still in the preliminary stages of cryptocurrency and seeing what role domains will play in it, so be sure to keep an eye out on how the two continue to evolve together in the future.

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