In the cryptocurrency transactional space, there is always a need for public address to send assets to another. But the problem lies in the complexity of the address, which is non-human readable and can’t be typed, as its a behemoth of alphanumeric letters.
Hence, after a lot of advancements, Ethereum Name Services (ENS) was launched in 2017 by the lead developer, Nick Johnson, which enabled the users to register with .eth domain names, which are human-readable addresses, and identifiers of the users. As per Brantly Milegan, the developer coordinator for ENS, more than 270,000 domain names have been set up using the ethereum domain .eth.
Ethereum Naming Service (ENS) is a human-readable machine identifier that was earlier being supported by well-known platforms like MyEtherWallet, MetaMask, Opera Touch, etc. Recently, on October 16, 2019, Ethereum Naming Service (ENS) has added 15 more wallets and applications, where multi-coin support has been added. With the latest developments, ENS enables to set up their domain name in a minute, instead of five days as before. Milegan said that the first version of this multi-coin support would integrate with BTC, ETH, ETC, BCH, and LTC.
But irrespective of all these advancements, the users find some or the other complexities or confusion.
To make the user experience smooth and easy, the concept of CRUXPay came into origin.
CRUX protocol enables users to interact with blockchain-based systems with ease, by allowing users to create human-readable IDs (CRUX ID) linked to their wallets. These IDs act as users' identities in the crypto ecosystem, allowing them to send and receive funds, request payments, authorize payments, and link dApps with their wallets securely and seamlessly. CRUX uses the decentralized Blockstack Naming Service (BNS), which enables a unique identity management system. CRUX aims to bridge the gap between the wallets and the applications by establishing the ownership of a private key to a human-readable name. CRUXPay has the following features:
Whenever you are buying anything virtually or playing online games where you need to make a payment, you need to put the ENS ID (Ethereum name address) and then the amount, which can be in decimal or a big number. This is a push payment, which is not being favored by cryptizens as there is a probability of a mistake by putting the wrong amount.
CRUXPay enables you to do nothing but approve the payment, whenever you have to make any sorts of payments, like paying bills or purchasing anything. You need not worry about putting the ID and the amount, which is time taken and mistake-prone.
CRUXPay enables the decentralized applications (dApp) to interact freely with one another, without having to worry about the device. So, if in case your dApp and wallet are running on separate devices, then also, you can access all your funds in a unified manner, just by a common CRUX ID.
In most of the cases, you might have experienced that there are different devices supporting different wallets, like, for instance, MetaMask needs to be installed in the same browser as an extension. Once you do that only, you can access your tokens. But, you might not always be in a position to log on to your desktop wallet, right?
Here CRUX pays a very pivotal role to help coordinate between different devices.
In the case of ENS, it supports specific coins like Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, and few more. But there are more than 3000 cryptocurrencies, which are still growing in number every single day.
So, you won’t be able to create an ENS ID when you want to access other coins. From your CRUX ID, you can access whatever coin or token you are holding as there is no limit to that. CRUX enables you to access any wallet or coin with a universal, unique CRUX ID, which can be altered by none other than you. Hence, there is no risk of data manipulation here, and your funds are extra secured.
CRUX lets you create an ID free of cost, without any renewal charges. But your ENS ID would require to be renewed every year with a fee of $5 (which are paid in ETH) for names that are seven characters or longer. The ENS short names get renewed at higher prices once they become available.
Once you create the CRUX ID, you don’t have to pay for the renewal of the ID, even if its for multiple years.
CRUXPay is the new-age protocol, which is going to solve the major hurdles in the crypto adoption. Keeping the user-friendliness in mind, CRUX has been created, where the users would find the crypto transactions as easy as paying through the fiat counterparts like VISA and Master Card.
2019-11-26 06:26:55.174224 | 2 min