Minds + Machines (MMX) has launched what they’re describing as the first open top level domain to combine Ethereum blockchain innovation and security with ease-of-use for today’s world, with a Sunrise period commencing today. The .luxe standard that “lets you exchange easily” smart contracts, crypto and other blockchained products.
With a .luxe domain name, there’s no more unintelligible 40 character hashes – just easy-to-remember .luxe words of your choice.
The launch of .luxe sees MMX enter into an exclusive agreement that will enable Ethereum’s Ethereum Name Service (ENS) to be integrated into the services marketed by registrars to consumers in MMX’s .luxe.
Somehow MMX has made .luxe stand for “Lets U Xchange Easily”. One has to give them marks for creativity! However for an open new gTLD, .luxe is one of the few to be creative and offer something new, something that a top level domain hasn’t offered before, that is, something other than domain names for websites, email and so on.
To understand what is unique about a .luxe domain name, it helps to have an understanding of blockchain. But they can be associated through the Ethereum blockchain with the 40 character hash identifier that currently denotes any Ethereum asset, item or service supporting Ethereum. As a result, a memorable .luxe name can act as the public identifier for an individual’s Ethereum asset instead of the complex and long 40 character hash identifier.
MMX believes the market opportunities for the .luxe service are significant: specifically in the areas of cryptographic wallets, and the emerging sectors of smart contracts and decentralised apps (DApps).
For example, in the crypto wallet market, there are already over 26 million wallets in use. Currently, for two holders of Ethereum supporting wallets to transfer Ethereum or Ethereum-based tokens between themselves, the recipient has to provide the sender their unique 40 character wallet hash (eg. 0x314159265dd8dbb310642f98f50c066173c1259b) for the sender to then re-enter the hash to effect the transfer. Under the .luxe service, the recipient will be simply able to share the blockchain enabled .luxe word that they have associated to their wallet (eg. helen.luxe instead of 0x31415926dd…….). Wallets supported by the .luxe ENS service at launch will represent those used by the majority of Ethereum users.
The same process of replacing 40 character identifiers with relevant and user friendly .luxe names can also, in principle, be applied to all Ethereum assets or services – eg. smart contracts, distributed storage, DApps etc., making the potential addressable market for easy-to-remember blockchain enabled .luxe names significantly broader than just the crypto wallet market.
MMX and the keyholders of the ENS believe the secure association of understandable words to Ethereum items or services can significantly facilitate the movement of Ethereum assets, as well as usage of services based on the Ethereum blockchain, across the Internet by end-users.
“MMX is committed to working alongside ICANN and leading technology partners to ensure domain names continue to have real relevance to entrepreneurs, developers and end-users in the twenty-first century,” said Toby Hall, CEO of MMX.
“We already know from Ethereum’s test in its non-ICANN authorised .eth zone that there is a real proven demand for word-based identifiers that are blockchain enabled, ENS having received deposits of over $28 million on approximately 300,000 seven character words and above in the .eth zone. We look forward to working with ENS to allow those .eth registrants the opportunity to claim their equivalent .luxe name before the Company launches .luxe for sale to the general public in late October. We are delighted to have developed a deep working relationship with the keyholders of ENS.”
In addition to the blockchain related functionality, .luxe will also allow names to resolve over the internet in the normal way for email or web-based traffic. Users will therefore be able to complement those .luxe addresses that they use for traditional internet activity with those that they use for their Ethereum related items or services.
“We’re very excited to be helping advance integration between existing DNS-based name services and the Ethereum Name Service, improving usability for blockchain applications and users,” said Nick Johnson, lead developer and a root key holder of ENS.
The ICANN mandated Trademark Sunrise period, where certain trademark holders can claim their respective trademarks, will begin 9 August and run to 8 October 2018. There will then be a Limited Registration Period, 9-25 October, where registrants of the circa 300,000 .eth names already registered can claim their equivalent name in .luxe. Names will then be available to the public on a first-come first-served basis from October 30. During the first seven days of public sale, there will be an Early Access period where registrants will be charged an additional fee to secure the names of their choice.