Minds + Machines (MMX), a company that manages several new gTLDs, has changed its plans regarding one of these domains. It had planned to use .LUXE for website creation dedicated to luxury goods. As Domain Name Wire reports, the company has signed an agreement with the Ethereum blockchain platform. Under the agreement, domain names in .LUXE will be used as cryptocurrency wallets. The acronym LUXE now means Lets U Xchange Easily.
The addresses of Ethereum cryptocurrency wallets are sequences of several dozen random characters, which cannot be memorized. And as with IP addresses, it would be logical to use easy to remember names instead of long sequences. To that end, Ethereum has launched the Ethereum Name Service project. Users will be able to register names in the pseudo domain .ETH. For instance, the owners of the John.eth and Mary.eth names can easily exchange e-money without the need to write down long sequences of characters or copy and paste them (which also makes the name susceptible to hacker attack).
However, the project has certain limits. Thus, .ETH is not in the official domain included in the root zone, so browsers cannot see it. It is also impossible to create websites using these pseudo domain names in .ETH. Moreover, the registration procedure is very complicated. In this context, the agreement between Ethereum Name Service and Minds + Machines seems promising. The owners of Ethereum wallets will receive names in the .LUXE domain, where registration is simple. The names can be used for money transfer and also for creating websites. However, only time will tell whether the concept will catch on.
