Web3 domain provider Unstoppable Domain recently added support for XRP Toolkit, a platform for managing cryptocurrencies and trading on the XRP Ledger's decentralized exchange, according to a Monday announcement.
XRP Toolkit, created by Towo Labs, makes it much simpler to securely manage and interact with crypto assets on the XRP Ledger. By using this client-side interface, users can send, receive, and trade any asset found on the decentralized platform without paying commission fees.
Furthermore, those utilizing XRP Toolkit are engaging in peer-to-peer trading with all actions being settled through the independently maintained XRP Ledger network comprised of thousands of nodes. Only a minor transaction fee is charged to deter spam.
Unstoppable Domains noted that XRP Toolkit has such features as escrow and trust lines.The San Francisco-based Web3 domain provider plays a unique role in the decentralized web since it is building an ecosystem of domains that are securely stored as non-fungible tokens directly on a blockchain ledger.
The .crypto domain is similar to a traditional domain, but it is powered by blockchain technology.
By utilizing this innovation, Unstoppable Domains allows users to register domain names that can't be confiscated or censored by any government or organization.
It also connects these domains directly to crypto wallets and decentralized applications like MakerDAO, making it easier for people to transact with cryptocurrency without having to remember lengthy wallet addresses.
The decentralization of DNS (Domain Name System) ensures that no single entity has control over the entire platform, thus making it resistant to manipulation and censorship from powerful entities.