it is entirely possible for your domain name to be taken…Are .Crypto Domains Valuable… You’re leasing it from the domain registry and they have complete control over what occurs with your domain name. I have actually spoken about this sanctioned monopoly system before which you can learn more about in my “Domain FAQ” video but you don’t own your domain. It’s in fact difficult to own a standard domain. You may have seen, I said conventional domain name because a company’s dealing with a new kind of domain that you can own outright. I had the chance to talk to 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 just thought this was truly, actually cool what Unstoppable Domains was doing. – So Unstoppable Domains constructs domain names on blockchains and this is different than a standard domain because the domain name is kept by you, the user inside of your cryptocurrency wallet. So it’s kept inside of your wallet, just like a cryptocurrency would be. And what this does is it means 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, no one 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 you do not in fact own it. You’re renting it from a domain registrar like Namecheap and they’re renting it at wholesale rates from the domain registry. For.com domains that’s Verisign. Verisign holds the keys to every single.com domain. And that indicates they have the power to seize a domain at any provided time. Now, this is technically exceptionally rare, however it is possible. And it brings up an increasing issue with our internet, control. Brad calls this the power structure of a domain name system. – We’re a registry comparable to like a Verisign. The class structure is really different since when we’ve offered you a domain there’s nothing that we can do. If it’s a.com domain you’re trusting the registry not to alter costs or take the domain away from you in the future. Our domain are one-time fees, so you never ever have to fret about it. As soon as you buy a domain name it’s more like purchasing a football from us. Like there’s absolutely nothing we can do. When you have it, we can’t edit or upgrade or take the football away from you. In the standard world, there’s a great deal of these resellers. And so GoDaddy is a reseller for example of.com domains. We’re primarily offering 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 instance, and you can buy them. So, yeah, I believe that’s something that’s going to develop. In regards to us beginning, it was a little easier for us to sort of handle the entire user experience and develop all these special tools.
However if you were to like, you know imagine what things are going to resemble in five to 10 years. Yeah, there must be great deals of different sellers and resellers and things like that. – Naturally a brand-new kind of domain means that you can’t register.com,. co,. net or any of the basic TLDs you’re used to seeing. Right now Unstoppable Domains is beginning with.crypto. Not a TLD you ‘d consider being an ideal suitable for your blog site or business however we could see some generic TLDs being provided in the future. For now, Unstoppable Domains is catering to crypto lovers. It’s a totally various 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 items. You have actually probably seen this term pop up everywhere just recently. Non-fungible tokens are units of data on a journal, that is the blockchain and they represent a distinct digital item.
In this case, a domain name. Now I’m not declaring to understand all the technical specifics of this brand-new domain system. To be honest, I still struggle with some of the principles 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 internet. The biggest bottleneck is that internet browsers Google Chrome, Safari, and Microsoft Edge have not yet implemented assistance for NFT domains. Unstoppable Domains has a solution for this, thanks to Cloudflare including assistance for their domains.