@rippledomains plans to launch a blockchain naming service on the XRP Ledger (XRPL).
rns.xrp (@rippledomains) is working on launching a blockchain naming service on the XRP Ledger, per a Medium blog post shared by rns.xrp on Twitter today.
Just released our first medium article explaining what we are all about ?
?Follow us to stay updated on .xrp domainhttps://t.co/xY8S74v7hj#xrpdomains #XRPHolders #XRPCommunity #XRPL $XRP #wagmi #NFTs #ens #domains
— rns.xrp (@rippledomains) December 8, 2022
The service will allow users to purchase unique blockchain domains linked to their wallet address, allowing for easier identification and management of transactions with less room for error as opposed to the complex format of the original wallet address. Consequently, users can use human-readable text with the .xrp top-level domain when it launches.
Per the blog post, the service dubbed Ripple Name Service will launch in Q1 2023. For proponents of blockchain naming services, the complexity of crypto wallet addresses is a barrier to crypto adoption. This is what rns.xrp says it hopes to solve with the Ripple Name Service. Notably, besides carrying out transactions with their domains, per the blog post, users will also be able to use it to host content.
It is worth noting that despite the Ripple Name Service project name, there is no known link between the project and the blockchain payments company.
rns.xrp has urged followers to expect regular updates on its progress. Currently, it enjoys the support of E-Smitty, an American music producer and XRP supporter.
The producer sharing the update disclosed that he had advised them to launch the service for other blockchains he supports in addition to the XRPL.
This Ripple Name Service—>@rippledomains will Allow users to create unique names for their XRP addresses making it easier to transact and organize wallets. I've advised them to do $BSV $HBAR $LCX as well!!! Check it out!!! THEREALESMITTY.XRP & THEREALESMITTY.BSV are taken!!! pic.twitter.com/sdBzqz7NJI
— E. Smitty $XRP $HBAR $LCX $ALGO Family!!! (@THEREALESMITTY) December 8, 2022
Blockchain naming services have become popular in the crypto space. Like other non-fungible crypto assets, users sometimes perceive them as status symbols. Arguably, the most popular name service is the Ethereum Name Service (ENS), which is used even by Ethereum founder Vitalik Buterin.
However, despite the newfound popularity of name services on the blockchain, they are not without flaws. For example, Buterin and other privacy advocates have criticized them for creating an avenue to allow outsiders to track the finances of users who opt to use their real names.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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