How Web3 Domains Enhance Cryptocurrency Security?

From the very beginning of ZNS Connect, we actively utilized Web3 domains for sending and receiving cryptocurrencies. Since then, the capabilities of Web3 domains have significantly expanded, but sending crypto remains a crucial use case. With integration into many wallets, using Web3 domains for sending and receiving crypto has become incredibly simple and convenient. However, some users still prefer to rely on long alphanumeric addresses for their crypto wallets.

Here’s why sending crypto to such a “naked” address is never a good idea.

To state the obvious: making a mistake when sending to an alphanumeric crypto address is extremely easy. Unlike Web3 domains like josh.zeta, crypto wallet addresses are nearly impossible to memorize. A single typo in letters or numbers, and your funds may be lost forever. Moreover, many users have multiple crypto wallets for different coins, which complicates the process of keeping track of addresses. As a result, most people resort to copying and pasting to ensure they input the correct address.

However, recent malware attacks have made the use of Web3 domains even more crucial. A clipboard stealer, known as the “clipper,” recognizes when you’re pasting a crypto wallet address and changes it to the attacker’s address, diverting your payment to them. Since most people don’t memorize their crypto wallet addresses, it’s challenging to identify whether the long string of letters and numbers you just pasted belongs to you or a hacker.

In an instant, the funds you intended to send or withdraw are lost forever.

By using Web3 domains like josh.zeta, you can avoid such attacks. It’s much easier to spot a problem if you try to paste “josh.zeta” and see an unrecognized address, allowing you to correct the issue before hitting “send.” Additionally, shorter and more human-readable Web3 domains are easier to remember, enabling you to enter and confirm your wallet address without relying on copy-pasting.

While hackers could still attempt similar attacks targeting Web3 domains, the barriers are more cumbersome — they would need to buy and configure a domain name, then target users with a similar Web3 domain to have any chance of success.

Web3 domains also offer senders the ability to check additional information to ensure they’re sending to the right person. For example, you can verify the user’s profile and confirm that the associated Twitter account belongs to the intended recipient. This serves as an additional check when sending crypto.

And most importantly, with ZNS Connect, you have a single address that you can use to send different coins or tokens, simplifying the memorization process.

In summary, there are numerous ways in which Web3 domains and blockchain can make the internet and money safer. Sending crypto using Web3 domains is not only convenient but also adds a vital layer of security for users.