Find Bitcoin Dominance Altcoin Season…and today I’m extremely delighted to explore this concept of a decentralized web. So when it concerns domains and the concept of a decentralized web, many of you ask me, “Christian, do I actually own my domain outright?” Or, “Exist specifications connected to my registration?” The response is no, you don’t own your domain name outright, but policies and policies normally safeguard the domain from being drawn from you. But at the end of the day,
You’re renting it from the domain computer registry and they have full control over what occurs with your domain name. You may have discovered, I said standard domain name since a business’s working on a brand-new type of domain name that you can own outright. – So Unstoppable Domains develops domain names on blockchains and this is different than a standard domain because the domain name is saved by you, the user inside of your cryptocurrency wallet.
– Right now, when you go to buy a domain name you don’t in fact own it. You’re renting it from a domain registrar like Namecheap and they’re renting it at wholesale pricing from the domain computer registry. If it’s a.com domain you’re trusting the registry not to change rates or take the domain away from you in the future.
If you were to like, you know imagine what things are going to be like in five to 10 years. Yeah, there need to be lots of different sellers and resellers and things like that. – Of course a brand-new kind of domain implies that you can’t register.com,. co,. net or any of the standard TLDs you’re utilized to seeing. Now Unstoppable Domains is starting with.crypto. Not a TLD you ‘d think of as being an ideal suitable for your blog or company but we could see some generic TLDs being provided in the future. For now, Unstoppable Domains is catering to crypto enthusiasts. It’s an absolutely various domain name system, meaning you can’t type craylor.crypto into your web browser and load it or can you? See these crypto domains are NFT products. You’ve probably seen this term turn up everywhere recently. Non-fungible tokens are units of data on a ledger, that is the blockchain and they represent an unique digital product.
In this case, a domain. Now I’m not claiming to understand all the technical specifics of this new domain system. To be truthful, I still fight with a few of the ideas of cryptocurrency, and I’m not an expert in this space. Today we’re not focusing as much on the technical side of NFT domains however more on what it implies for the future of the web. The biggest bottleneck is that internet web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet executed assistance for NFT domains. Unstoppable Domains has a solution for this, thanks to Cloudflare adding support for their domains.