Unstoppable Domains launches MPC Wallet to enhance security
Digital identity provider, Unstoppable Domains, has announced the launch of its new Multi-Party Computation (MPC) Wallet. This advancement is set to enhance the security and user experience of individuals self-custodying digital assets. The newly introduced "Unstoppable Wallet," developed in partnership with renowned custodian Fireblocks, offers significant improvements in domain minting, management, and recovery for Web3 domains.
The Unstoppable Wallet introduces an array of features aimed at simplifying the acquisition and management of digital assets. Users can now mint domains directly within the Unstoppable Domains (UD) interface, akin to adding a website when purchasing a traditional .com domain. Essential wallet functionalities facilitated on the desktop include domain transfers, messaging, updates to cryptocurrency records, and transactions across major blockchains such as Polygon, Ethereum, Bitcoin, Base, and Solana.
MPC technology, which is integral to the new wallet, enhances security by splitting the responsibility of private key management across multiple entities. This reduces the risk of compromise since no single party holds full control. In collaboration with Fireblocks, which boasts a record of facilitating over USD $4 trillion in transactions across 170 million wallets, Unstoppable Domains ensures robust key management without centralised control.
Matt Gould, Founder and CEO of Unstoppable Domains, expressed the company's vision, stating, "We want to bring the entire domain industry onchain. To do that, we needed to create a wallet simple enough for the average domain user. Using MPC technology, we're able to provide backup and recovery, enhanced security, and a straightforward interface for domain owners."
The Unstoppable Wallet also features a remote deactivation capability, allowing users to disable their wallet if their device is lost or stolen. This keyless recovery method enables users to regain access using a password of their choice, thereby enhancing overall security and user convenience. During setup, users can opt for a recovery email, which includes a one-time-use encrypted link to reset their passphrase, thus eliminating the need to store seed phrases.
Lisa Seacat DeLuca, Head of Engineering at Unstoppable Domains, highlighted the importance of user-friendly blockchain interactions, stating, "The key to broader adoption of blockchain technology is simplicity. Our new Unstoppable Wallet will feel more like what users expect from traditional web2 experiences—creating and protecting their assets with a password rather than an intimidating set of private keys. This will positively impact users' interactions across multiple blockchain ecosystems. User-owned crypto transactions can now be as intuitive as using any other app."
The wallet is structured to cater to both newcomers and experienced crypto users, offering clear guidance to ensure ease of use. Future developments include an open API, which will allow registrars, resellers, and other partners to offer the wallet, thereby expanding its reach to various ecosystems. Michael Shaulov, CEO and Co-founder of Fireblocks, expressed enthusiasm about the collaboration, noting, "We are thrilled to have the Unstoppable Wallet built on Fireblocks' enterprise-grade infrastructure, providing maximum flexibility, the highest levels of security, and ease of use."
The Unstoppable Wallet is now available, positioning Unstoppable Domains as a significant player in the advancement of secure and user-friendly digital asset management. Users and partners alike can anticipate further enhancements as the wallet's features continue to evolve.
