Holy Transactions Wallet Adds Netki Human-Readable Addresses
In an email to customers today Holy Transactions, an online cryptocurrency wallet and exchange service, announced that it will now support human-readable Bitcoin addresses via a partnership with Netki. Its users will now be able to receive Bitcoin payments using theirusername.holytransactions.com as their address.
Netki sees the ugly and unwieldy nature of Bitcoin addresses as a key barrier to the digital currency’s adoption by mainstream users. As they point out, we now each other by names not strings of computer code, and as long as cryptocurrency addresses cannot be memorized and shared as easily as an email address most people simply will not go to the trouble of using them.
Of course Netki are far from the first to realize this, and previous services have tried to bridge the gap between cryptography and everyday language to make using Bitcoin a bit more like using familiar services like email. A notable example of this was BitcoinWallet.com, which marketed itself as a way for users to send coins to each other using just their name. Others have tried to tie Bitcoin addresses to social media identity. But the key to Netki’s offering which may well make it a success where others have failed is that they are not offering a wallet service themselves, nor a social media app which both sender and recipient need to sign up to.
Instead they are providing a set of tools which allow any wallet provider to implement human-readable addresses. If you are willing to buy your own domain name you can even sign up on their site and associate any Bitcoin or Litecoin address with your domain — including Namecoin’s decentralized .bit domains which you can register with them for less than $2 per year (allowing people to send BTC to yourname.bit, which is pretty cool. The person sending your money will still need to use a Netki enabled wallet, but you can receive coins like this to any address.
As a multi-currency wallet provider Holy Transactions is perfectly placed to make use of this service, which can be applied to alt coins as well as BTC. Its users will now be able to send and receive Bitcoin, Litecoin, or Dogecoin using easy to remember, and easy to share, human-readable address.
Originally published at cryptonewsday.com on April 24, 2015.