Find Bitcoin Dominance Glassnode…and today I’m very delighted to explore this idea of a decentralized web. So when it pertains to domains and the concept of a decentralized web, a lot of you ask me, “Christian, do I really own my domain name outright?” Or, “Exist stipulations connected to my registration?” The answer is no, you don’t own your domain name outright, but policies and regulations generally protect the domain from being drawn from you. At the end of the day,
You’re leasing it from the domain computer registry and they have full control over what occurs with your domain name. You may have noticed, I said traditional domain name because a business’s working on a new type of domain name that you can own outright. – So Unstoppable Domains builds domain names on blockchains and this is different than a conventional domain due to the fact that the domain name is kept by you, the user inside of your cryptocurrency wallet.
They need to go and get your private secret, which is on your gadget, like your phone or your computer or whatever. – Today, when you go to acquire a domain name you don’t really own it. You’re renting it from a domain registrar like Namecheap and they’re renting it at wholesale pricing from the domain registry. For.com domains that’s Verisign. Verisign holds the secrets to every single.com domain. Which suggests they have the power to take a domain at any provided time. Now, this is technically incredibly uncommon, however it is possible. And it raises an increasing problem with our internet, control. Brad calls this the power structure of a domain system. – We’re a registry comparable to like a Verisign. Because when we have actually sold you a domain there’s nothing that we can do, the power structure is really various. If it’s a.com domain you’re trusting the computer system registry not to alter costs or take the domain away from you in the future. Our domain are one-time costs, so you never have to fret about it. Once you buy a domain name it’s more like buying a football from us. Like there’s absolutely nothing we can do. We can’t edit or upgrade or take the football away from you once you have it. In the standard world, there’s a lot of these resellers. And so GoDaddy is a reseller for example of.com domains. We’re mostly offering our own domains at unstoppabledomains.com today. There are a couple of others that you can purchase them. You can go to MyEtherWallet, for instance, and you can buy them. Yeah, I believe that’s something that’s going to construct. In terms of us beginning, it was a little easier for us to type of manage the whole user experience and develop all these unique tools.
However if you were to like, you know picture what things are going to be like in five to ten years. Yeah, there ought to be great deals of various sellers and resellers and things like that. – Obviously a new type of domain means that you can’t register.com,. co,. net or any of the basic TLDs you’re utilized to seeing. Now Unstoppable Domains is starting with.crypto. Not a TLD you ‘d consider being a perfect suitable for your blog or organization however we could see some generic TLDs being offered in the future. In the meantime, Unstoppable Domains is accommodating crypto enthusiasts. It’s a totally different domain system, indicating you can’t type craylor.crypto into your internet browser and load it or can you? See these crypto domains are NFT items. You’ve probably seen this term pop up all over just recently. Non-fungible tokens are units of information on a journal, that is the blockchain and they represent a distinct digital product.
In this case, a domain name. Now I’m not claiming to comprehend all the technical specifics of this brand-new domain name system. To be honest, I still fight with a few of the principles of cryptocurrency, and I’m not a professional in this area. However today we’re not focusing as much on the technical side of NFT domains however more on what it means for the future of the web. The most significant bottleneck is that web web browsers Google Chrome, Safari, and Microsoft Edge have not yet carried out support for NFT domains. Unstoppable Domains has an option for this, thanks to Cloudflare adding assistance for their domains.