Unstoppable Domains, a blockchain domain provider, now allows Cake Wallet users to create custom usernames for their crypto wallets addresses.
Launched in 2018 as the first free and open-source wallet for the privacy coin Monero (XMR, -4.39%) on IOS, Cake Wallets has expanded to include android applications and support for bitcoin (BTC, -2.35%), litecoin (LTC, -0.93%), ether (ETH, -3.15%) and Cardano’s ADA (+0.72%). The wallet maintains some of the fundamental features of traditional wallets such as a built-in exchange and support for “fiat view.”
Rather than use a 32-bit ambiguous string (on the visible layer at least), Cake Wallet’s 150,000 users will be able to create usernames under the [NAME].crypto format.
The domains are minted by the popular blockchain domain provider Unstoppable Domains. Their process involves creating a non-fungible token (NFT) on the Ethereum blockchain that is attached to the actual domain. This way, each domain is unique and unreplicable.
Retaining privacy
Initially launched as Bitmonero, a fork of Bytecoin, Monero has grown to a $4.8 billion market cap. Unlike Bitcoin, Monero has built-in privacy features that protect new users’ privacy by default.
According to Unstoppable Domains, while using these domain usernames in Cake Wallet, the privacy of Monero is still retained. The domain is connected to the main Monero address (Bitcoin/Litecoin/Ethereum address) that is used when sending and receiving funds.
However, in Monero, unique stealth addresses are published on the blockchain, not the main/subaddresses.
“There’s no way to go from a stealth address to a main/subaddress without the private view key,” explained Justin Ehrenhofer, creator of the Breaking Monero series.
Brad Kam, the co-founder of Unstoppable Domains, said, “You can attach a static Monero address to your domain and receive money to it without having your balances exposed. Transactions associated with a particular wallet address remain 100% private. It’s the best of both worlds: public usernames, private transactions.”
He also mentioned that the system is completely opt-in and that users don’t need to create a username for their crypto wallets.
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