One of the many things many crypto users would wish is to have the simplicity of the traditional account numbers in their digital wallets. Public addresses for crypto wallets are too long and complicated for many users. In a recent announcement by large names around crypto, there is an expected collaboration to create a new standard for wallet addresses. To make this work, the new standard address to be created must be widely accepted across different crypto chains and ledgers.
The CEO of unstoppable domains announced the news in a press release; Matthew Gould stated that “Simple usernames that work across all wallets globally take the fear and risk out of spending crypto. We’re excited to work with these 30+ wallets to make crypto transactions an everyday reality for millions, then billions of people and we invite other wallets to join our alliance.”
The collaboration includes over 30 of the world’s leading crypto wallets, which automatically signify over 40 million users across crypto communities. A new customizable address and a wallet address will help simplify peer-to-peer payment. The latest solution from the Wallet Alliance aspires to assist bridge the crypto-to-mass market divide.
It is much more convenient to transfer crypto to a friend’s wallet that contains their name than a complicated string of numbers and characters. This newest step may help remove one of the most perplexing aspects of crypto onboarding and making it as easy as possible.