Unlike with traditional domain registration, custody of the domain is tied to the specific wallet and is not controlled by any centralized entity.

The .crypto domain is based on Unstoppable Domains’ smart contracts on Ethereum, which are responsible for assigning the domains and looking up the addresses.

It is separate from the Ethereum Name Service (ENS), which assigns .eth domains, but the functionality is similar. Unstoppable Domains can tie the .crypto domain to an Ethereum wallet, making it possible to send money to human-readable addresses.

Building an uncensorable web

The company is also pushing the .crypto domain as an uncensorable alternative to existing web addresses.

Since it falls outside of the traditional domain name infrastructure, normal browsers cannot open .crypto websites. As reported by Cointelegraph in March, the Opera browser entered into a partnership with Unstoppable Domains to accept blockchain-based domains. 

Opera nevertheless only holds 2.2% of the global market share. For Chrome users, Unstoppable Domains released a browser extension.

The company stresses that blockchain domains are not going to make the web uncensorable by themselves, but they help users bypass restrictions when publishing content.
— Citește pe cointelegraph.com/news/myetherwallet-to-offer-crypto-blockchain-domains-to-1-million-users