Find Bitcoin Dominance…and today I’m very excited to explore this concept of a decentralized web. When it comes to domains and the principle of a decentralized web, many of you ask me, “Christian, do I actually own my domain name outright?” Or, “Exist stipulations attached to my registration?” The answer is no, you don’t own your domain name outright, however policies and policies generally secure the domain from being drawn from you. But at the end of the day,
You’re renting it from the domain computer system registry and they have complete control over what takes place with your domain name. You may have discovered, I stated 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 various than a traditional domain because the domain name is saved by you, the user inside of your cryptocurrency wallet.
They need to go and get your personal secret, which is on your gadget, like your phone or your computer or whatever. – Today, when you go to acquire a domain name you do not actually own it. You’re renting it from a domain registrar like Namecheap and they’re leasing it at wholesale rates from the domain computer registry. For.com domains that’s Verisign. Verisign holds the keys to every single.com domain. And that indicates they have the power to take a domain name at any given time. Now, this is technically very unusual, however it is possible. And it raises an increasing issue with our web, control. Brad calls this the class structure of a domain name system. – We’re a registry comparable to like a Verisign. Since when we’ve sold you a domain there’s nothing that we can do, the power structure is extremely various. If it’s a.com domain you’re relying on the registry not to change costs or take the domain away from you in the future. Our domain are one-time fees, so you never need to stress over it. When you buy a domain name it’s more like purchasing a football from us. Like there’s absolutely nothing we can do. We can’t upgrade or modify or take the football far from you once you have it. In the conventional world, there’s a great deal of these resellers. Therefore GoDaddy is a reseller for instance of.com domains. We’re mainly selling our own domains at unstoppabledomains.com today. But there are a couple of others that you can purchase them. You can go to MyEtherWallet, for example, and you can buy them. Yeah, I think that’s something that’s going to develop. In terms of us beginning, it was a little easier for us to kind of handle the whole user experience and construct all these special tools.
If you were to like, you understand imagine what things are going to be like in 5 to 10 years. Yeah, there ought to be great deals of various sellers and resellers and things like that. – Obviously a new type of domain suggests that you can’t register.com,. co,. net or any of the basic TLDs you’re used to seeing. Now Unstoppable Domains is beginning with.crypto. Not a TLD you ‘d consider being an ideal suitable for your blog site or organization however we could see some generic TLDs being provided in the future. For now, Unstoppable Domains is catering to crypto enthusiasts. It’s a totally various domain system, meaning you can’t type craylor.crypto into your internet browser and load it or can you? See these crypto domains are NFT items. You have actually most likely seen this term pop up everywhere recently. Non-fungible tokens are systems of information on a journal, that is the blockchain and they represent a distinct digital product.
In this case, a domain. Now I’m not declaring to understand all the technical specifics of this new domain name system. To be honest, I still battle with some of the concepts of cryptocurrency, and I’m not a specialist in this area. Today we’re not focusing as much on the technical side of NFT domains but more on what it indicates for the future of the internet. The most significant traffic jam is that internet web browsers Google Chrome, Safari, and Microsoft Edge have not yet executed support for NFT domains. Unstoppable Domains has a service for this, thanks to Cloudflare including assistance for their domains.