How Namecoin Works – Ultimate Crypto FAQ

Find How Namecoin Works…and today I’m very excited to explore this principle of a decentralized web. When it comes to domains and the concept of a decentralized web, numerous of you ask me, “Christian, do I in fact own my domain name outright?” Or, “Exist stipulations connected to my registration?” The answer is no, you do not own your domain name outright, but regulations and policies normally safeguard the domain from being taken from you. However at the end of the day,

it is totally possible for your domain to be seized. You’re leasing it from the domain windows registry and they have complete control over what occurs with your domain name. I have actually discussed this sanctioned monopoly system before which you can find out more about in my “Domain frequently asked question” video but you do not own your domain name. It’s really difficult to own a conventional domain name. You may have discovered, I said standard domain name because a business’s dealing with a new type of domain that you can own outright. I had the chance to speak with Brad Kam the co-founder of Unstoppable Domains to talk more about the future of the decentralized web. And no this video is not sponsored, I simply believed this was actually, truly cool what Unstoppable Domains was doing. – So Unstoppable Domains builds domain on blockchains and this is various than a conventional domain due to the fact that the domain is kept by you, the user inside of your cryptocurrency wallet. It’s saved inside of your wallet, just like a cryptocurrency would be. And what this does is it implies that nobody else can move the domain around, take it far from you, make updates to the domain, anything. Unstoppable Domains can’t do it, nobody can do it.

They require to go and get your private key, which is on your device, like your phone or your computer system 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 renting it at wholesale rates from the domain computer registry. For.com domains that’s Verisign. Verisign holds the secrets to every single.com domain. And that implies they have the power to take a domain name at any given time. Now, this is technically very unusual, but it is possible. And it raises a rising issue with our internet, control. Brad calls this the power structure of a domain system. – We’re a computer registry comparable to like a Verisign. The power structure is really different since when we have actually offered you a domain there’s absolutely nothing that we can do. If it’s a.com domain you’re trusting the windows registry not to alter costs or take the domain away from you in the future. Our domain names are one-time charges, so you never need to worry about it. Once you purchase a domain name it’s more like purchasing a football from us. Like there’s nothing we can do. When you have it, we can’t modify or update or take the football away from you. In the traditional world, there’s a great deal of these resellers. Therefore GoDaddy is a reseller for example of.com domains. We’re mainly selling our own domains at unstoppabledomains.com right now. However 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 think that’s something that’s going to construct. In regards to us getting going, it was a little simpler for us to kind of handle the whole user experience and construct all these unique tools.

If you were to like, you understand picture what things are going to be like in 5 to 10 years. Yeah, there should be lots of different sellers and resellers and things like that. – Obviously a brand-new kind of domain name indicates that you can’t register.com,. co,. net or any of the standard TLDs you’re utilized to seeing. Right now Unstoppable Domains is beginning with.crypto. Not a TLD you ‘d consider being an ideal fit for your blog or organization however we could see some generic TLDs being provided in the future. In the meantime, Unstoppable Domains is catering to crypto enthusiasts. It’s a completely different domain name system, implying you can’t type craylor.crypto into your browser and load it or can you? See these crypto domains are NFT products. You have actually probably seen this term pop up all over recently. Non-fungible tokens are systems of information on a ledger, that is the blockchain and they represent a distinct digital item.

In this case, a domain name. Now I’m not claiming to understand all the technical specifics of this new domain name system. Unstoppable Domains has a service for this, thanks to Cloudflare including assistance for their domains.