A web3 domain name is a type of domain name that is registered on a crypto network, such as Ethereum. It can be used to send and receive cryptocurrency payments, access dApps, and interact with smart contracts.

Traditional crypto addresses are complex, long strings of characters. Blockchain domain names remove this complexity and allow for a more user-friendly experience when interacting with Web3.

Similar to web2 '.com' domains, web3 domains usually end in something such as '.eth' or '.crypto'.

A blockchain domain name can be used in various ways within the larger web3 ecosystem.

• Instead of remembering a complex address, users can send and receive crypto payments easier
• It provides user-friendly access to dApps with a readable username
• It can be used as a digital identity, allowing users to control their online presence and reputation
• Web3 domains, like ENS and UD, can represent multiple blockchain networks and be used to receive payments in different cryptocurrencies