There is some good news in store for you if you own Ethereum assets or use its services. You no longer have to remember the 40-character long address that identifies you as an Ethereum user. Instead, you can simply choose a top-level domain name and attach your virtual address to it.
According to a press release, Ethereum has tied-up with Minds + Machines Group (MMX), the owner and operator of 32 top-level domain assets (gTLDs). The partnership will let Ethereum users to select a .luxe name that can be used to identify their digital assets.
"Under the agreement, any name of a registrant's choice in the .luxe registry (an abbreviation for "Lets U Xchange Easily") can be associated through the Ethereum blockchain with the 40 character hash identifier that currently denotes any Ethereum asset, item or service supporting Ethereum. As a result, a memorable .luxe name can act as the public identifier for an individual's Ethereum asset instead of the complex and long 40 character hash identifier," a MMX press release read.
The .luxe extension will allow users to utilize blockchain-related functionality in addition to allowing "names to resolve over the internet in the normal way for email or web-based traffic."
There are currently 26 million Ethereum wallets. If a wallet owner wants to transfer Ethereum platform-based tokens to another wallet, he can simply share his .luxe domain name with the recipient wallet's owner instead of the complex wallet hash (eg. 0x314159265dd8dbb310642f98f50c066173c1259b).
"The same process of replacing 40 character identifiers with relevant and user friendly .luxe names can also, in principle, be applied to all Ethereum assets or services - eg. smart contracts, distributed storage, DApps etc., making the potential addressable market for easy-to-remember blockchain enabled .luxe names significantly broader than just the crypto wallet market," the press release said.