Ethereum: How to facilitate transactions with Luxe-Domains

The Luxe-Domain i (http://www.domainregistry.de/luxe-domain.html)s the first Top Level Domain to combine the Ethereum blockchain identification system with easy-to-remember words of the registrants choosing, increasing trust and credibility – as well as ease-of-use – to every transaction. The luxe-Domain provides users with the ability to use myname.luxe as the secure identifier instead of a meaningless, 42-character hash. On top of this, the Luxe-Domain has all of the functionality of a regular domain extension (website, email, etc.).

There are now over 41 million Ethereum identifiers and the momentum continues to pick up steam. On average, 99,000 new identifiers have been added every day in 2018. Many users keep their Ethereum crypto currency in Ethereum wallets – with over 26 million crypto wallets now in use. Demand for user-friendly wallet names is expected to increase as Peer-to-Peer (P2P) and mainstream usage accelerates.

Research shows that Ethereum currency holders are 96% male with 49% residing in North America, 38% in Europe and 5% from Asia. This is a technical, forward-thinking group who value innovation and actively support improved access, usage, trust and security on the Internet.

With a market cap of over $28 billion USD, Ethereum it is now one of the top 20 most valuable currencies in the world – major retail organizations such as Overstock and Shopify now accept Ethereum as a method of payment not only for themselves but throughout their e-commerce platform for online stores and retail point-of-sale systems. Meaningful, the Luxe-Domain company names provides customers with the assurance they require when conducting transactions.

Growth in other segments of the Ethereum platform such as Smart Contracts and Decentralized Applications (DApps) continue to gather momentum across a number of industries, ranging from banking to voting, as the benefits of blockchain technology are leveraged. Smart Contracts are simply contracts that are executed exactly as they are setup by their creators and may contain self-executing or self-enforcing clauses.

The market potential – both current and potential – is significant as more than 26 million wallets are in use today. Ethereum Name Service has tested the concept of replacing 42-character addresses with words as a public identifier. Since May 2017, they have generated approximately 300,000 registrations and deposits totaling $ 28 million in their .eth zone not authorized by ICANN. The owners of these .eth domain names can now preferably register the corresponding Luxe-Domains.

The advantage of .eth is, that owners of this crytocurrency can substitute the 40-character addresses, which are not memorable, by a name like ben.eth and use the short ben.eth for all transactions.

The domain extension .eth belongs to the alternative root systems. The disadvantage is that both partners must download a special software in order that the routing works.

The owners of these .eth domain names can now preferably register the corresponding Luxe-Domains.

The luxe-Domains avoid the mentioned disadvantage. As user must not download a plug in software like at .eth, all transactions will become easier.

.ETH Limited Registration
A special period to allow existing .eth holders to claim their matching Luxe-Domain.
Start: Oct. 9, 2018 16:00 UTC
End: Oct. 25, 2018 16:00 UTC

Separately, the Luxe-Domain remains a natural extension for the luxury marketplace. Demand for luxury goods continues to increase and is driven by new online consumers in the Asia Pacific, Latin America, Africa and the Middle East regions. As an ICANN and MIIT approved TLD, the Luxe-Domain is able to service the traditional needs of online businesses globally. The innovative ideas born from combining the luxury goods industry with a secured blockchain-enabled address could be limitless.

For Brand Advisors
More and more companies are accepting Ethereum as a method of payment: from retailers such as Overstock to e-commerce platforms such as Shopify, to new frameworks being developed by technology giants like Microsoft and J.P. Morgan Chase. However, like every new industry, there are always individuals who are willing to take a chance on securing well-known trademarked names. The risk is real. In Ethereum’s pilot of associating words to its 42-character identifiers in the non-ICANN authorized .eth namespace, over 3,000 names listed in the TMCH were registered including company, celebrity and product names. It is likely few were by the underlying trademark holders. If your trademarked name is important to you, now is the time to protect it, while also securing it for tomorrows business needs.

Wallet Focused
There are over 41 million Ethereum identifiers, commonly known as hashes, that have been generated to date. Many are for Ethereum based wallets – with over 26 million crypto wallets now in use. Create a simple, readable .Luxe name instead of a 42-character wallet address (‘myname.Luxe instead of ‘0x466f6de234aeca0e1a…’) that lets you transfer funds more easily on a peer-to-peer (P2P) basis or to businesses that accept Ethereum.

Step one: You as the customer buys a Luxe-Domain: eg. george.luxe.

Step two: You as the customers securely associates the Luxe-Domain to your existing 40 character wallet address (0x466f6de23…).

Result: You can now send and receive tokens into their wallet by simply using the george.luxe address.

Smart Contract Focused

Blockchain is the latest technological development to take the tech world by storm, and with it comes innovation in the form of some amazing applications, like “smart contracts”. Smart contracts are digital contracts that help you exchange money, property, shares, or anything of value in a transparent, conflict-free way while avoiding the services of a middleman to ensure the transaction is completed successfully. One of the coolest features of smart contracts is that it not only defines the rules and penalties around an agreement but also automatically enforces those obligations. With the Luxe-Domain, you now have the opportunity to create a simple, readable Luxe-Domain for your smart contract. This will make sharing easy, by providing your parties with a Luxe-Domain instead of a 42-character address i.e. mycontract.luxe instead of 0x466f6de234aeca0e1ae952588a6f908….

DApps Focused
The Ethereum blockchain is so much more than a cryptocurrency. It is the platform on which new products (such as wallets) and services, such as smart contracts and DApps (short for “Decentralized Apps”) can run. DApps are applications that are not owned by anyone, can’t be shut down, have zero downtime and have the inbuilt distributed ledger consensus mechanism to ensure no middlemen are needed.

If you are a developer or a forward-thinking entrepreneur who is considering creating a DApp, a .Luxe domain name is the perfect domain for you.

For Businesses and Technology Enthusiasts
For innovative businesses, entrepreneurs and technology-driven individuals, blockchain emits a new type of hope and salvation in making business and the world better – .Luxe is transactional crypto-nite!

Decentralized application developers, digital companies and emerging disruptors understand the importance and value of business redesigned by blockchain. In fact, 72% of organizations consider blockchain a top 5 critical or important strategic priority and are rethinking and enabling new forms of commerce based in a world of verified authenticity in B2B and B2C digital transactions.

United Nations, Overstock, Shopify, J.P. Morgan Chase and Microsoft are just a few well-known organizations now using Ethereum and the demand is expected to increase. Within the next year, 39% of top companies expect to invest $5 to $10+ million in blockchain projects within supply chain, payments, IoT, digital identity, digital records and digital currency exchange. With unprecedented levels of innovation, growth and opportunity, it is easy to understand why practical, personalized .Luxe names are crucial to businesses.

Hans-Peter Oswald
http://www.domainregistry.de/luxe-domain.html (English)
http://www.domainregistry.de/luxe-domains.html (German)

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