For some time now, the Zilliqa team has been offering grants to high potential projects that have what it takes to push Zilliqa forward. One of the most interesting of these projects is Unstoppable domains. This project received funding both from Zilliqa and the Ethereum Foundation, and its proceeding well. So what is it all about? Unstoppable domains is essentially a platform for blockchain domain names. Just like there are .com and others, you can now get a blockchain domain name. One of the most popular of them is .Zil. As per the platform website, .Zil is,
“A new blockchain domain extension launched on the Zilliqa blockchain. It was specifically designed so that .zil domains can work to enable payments in any cryptocurrency.”
It works in a very simple way. One simply adds their Bitcoin, Zilliqa or Ethereum addresses into their Zil domain in the “my domain” section of unstoppabledomains.com. By doing this, they can use their names to receive crypto payments. For instance, a YouTuber can receive donations directly to their names without the need for the donors to type lengthy crypto addresses.
This is a big deal for Zilliqa in that, it could widen the scope of the platforms that receive Zilliqa as a payment. YouTube in the context discussed above is just one example. Another big one could be social media. With human readable addresses, and the use of a person’s name or business name as an address for receiving payments, then it follows that it can be used to send money using social media names.
This could be a big deal especially in pushing forward the value of Zilliqa (ZIL). But that’s just one aspect to it, the applications are wider and it could mean that practically anyone who has a website can now directly monetize it, without the need for 3rd party payment service providers.
It could easily disrupt industries, especially the music industry. We could be headed into a future where musicians can create a website and directly receive payments for it in crypto in a few clicks, taking power away from centralized platforms that they rely on now. This could open up the value of Zilliqa (ZIL) rise significantly since Unstoppable Domains is a Zilliqa funded projects.
With such projects, Zilliqa (ZIL) stands to be one of the biggest gainers in the long run. It may not be performing so well at the moment, but this can be linked to an overall sluggish environment in the entire crypto market. This follows the burst of the crypto bubble in 2018, making most investors afraid of taking part in this market. However, this will change over time, and as money starts flowing back into the market, strong projects like Zilliqa (ZIL) will thrive. With mass adoption in payments and in the Dapps market, Zilliqa (ZIL) could easily outpace its all-time highs. It’s a crypto that holds lots of potential at current prices, when it’s trading at an over 80% loss from its all-time highs.