Unstoppable Domains a company building blockchain domain names, and Chainlink the secure oracle network, have launched a Twitter authentication service for .crypto addresses.
According to a release shared with Blockchain.News, with this new feature, .crypto users can quickly authenticate by connecting to a public social media profile, and verify the address’ ownership through MyEtherWallet (MEW), which is the first platform that integrated the new feature.
Brad Kam, Unstoppable Domains co-founder wrote:
“This verification solution is making crypto payments more user-friendly […] It attaches real-world information to a cryptocurrency address, while still enabling a level of privacy through the use of pseudonyms or avatars.”
Phishing scams have been a real threat for many years and crypto addresses have often been vulnerable to such attacks. The recent Twitter hack that affected famous Twitter accounts earlier this year, including Joe Biden, Barack Obama and Elon Musk, led to 400 payments being sent to malicious bitcoin addresses.
According to Kosala Hemachandra, founder of MyEtherWallet:
“Adding your Twitter handle to your blockchain address provides a missing layer of transparency to make crypto safer. For the first time, anyone can use MEW to verify someone’s identity before they send them crypto.”
Unstoppable Domains is also integrating authentication powered by Chainlink oracles, that can connect each .crypto address to a public Twitter username. The verification is instantly confirmed and logged on the blockchain. This means that when sending funds from their wallets, users will be visually notified if the address they’re transacting with has been verified.
Daniel Kochis, Head of Chainlink Business Development said:
“P2P payments such as Paypal, Venmo and Cash App have totaled $310 billion in 2019 and are experiencing tremendous growth. Ownership verification for crypto addresses represents a major milestone towards attracting new users to the ecosystem.”
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