Why Crypto Companies are using Web2 Domain Names as Crypto Wallet Names and not Web3 domains?

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Why Crypto Companies are using Web2 Domain Names as Crypto Wallet Names and not Web3 domains?

Crypto companies often use Web2 domain names for wallet services because Web2 domains are currently more compatible with existing internet infrastructure and user habits. Web2 domains are centralized and operate through the Domain Name System (DNS), which is widely supported by browsers and search engines. This makes them more accessible to a broader audience and easier to integrate with other web services.

On the other hand, Web3 domains are decentralized and designed to work with blockchain-based applications (dApps). While they offer ownership and control over the domain, they are not yet interoperable with all web technologies, which can limit their immediate practicality for services like crypto wallets that aim for mass adoption.

Moreover, the familiarity and trust associated with Web2 domains may play a role in their continued use by crypto companies. As the technology and adoption of Web3 domains evolve, we may see a shift towards their use for wallet names and other services in the future.

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