it is totally possible for your domain name to be taken…Bitcoin Dominance Chart Live… You’re leasing it from the domain pc registry and they have full control over what happens with your domain name. I have actually spoken about this approved monopoly system prior to 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 impossible to own a standard domain name. You may have seen, I stated standard domain because a company’s working on a new type of domain name that you can own outright. I had the opportunity 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 simply thought this was really, 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 name is stored by you, the user within your cryptocurrency wallet. So it’s kept inside of your wallet, much like a cryptocurrency would be. And what this does is it indicates that no one 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 need to go and get your private key, which is on your gadget, like your phone or your computer system or whatever. – Right now, when you go to acquire a domain name you do not really own it. You’re leasing it from a domain registrar like Namecheap and they’re renting it at wholesale prices from the domain pc registry. For.com domains that’s Verisign. Verisign holds the keys to every single.com domain. Which indicates they have the power to seize a domain name at any provided time. Now, this is technically extremely rare, but it is possible. And it brings up an increasing problem with our internet, control. Brad calls this the power structure of a domain system. – We’re a computer system registry comparable to like a Verisign. Due to the fact that as soon as we have actually sold you a domain there’s nothing that we can do, the power structure is extremely different. If it’s a.com domain you’re relying on the computer system registry not to alter rates or take the domain away from you in the future. Our domain names are one-time fees, so you never ever have to worry about it. When you buy 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 update or modify or take the football away from you. In the conventional world, there’s a great deal of these resellers. Therefore GoDaddy is a reseller for instance of.com domains. We’re primarily offering our own domains at unstoppabledomains.com today. There are a couple of others that you can buy them. You can go to MyEtherWallet, for instance, and you can purchase 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 manage the whole user experience and develop all these unique tools.
However if you were to like, you know envision what things are going to be like in five to ten years. Yeah, there ought to be lots of different sellers and resellers and things like that. – Of course a brand-new type of domain indicates that you can’t register.com,. co,. net or any of the basic TLDs you’re used to seeing. Now Unstoppable Domains is starting with.crypto. Not a TLD you ‘d consider being an ideal suitable for your blog or company but we might see some generic TLDs being used in the future. In the meantime, Unstoppable Domains is accommodating crypto enthusiasts. It’s an absolutely various domain system, suggesting you can’t type craylor.crypto into your web browser and load it or can you? See these crypto domains are NFT items. You’ve most likely seen this term turn up all over recently. Non-fungible tokens are units of data on a journal, that is the blockchain and they represent an unique digital item.
In this case, a domain. Now I’m not claiming to understand all the technical specifics of this brand-new domain system. To be truthful, I still deal with a few of the concepts of cryptocurrency, and I’m not an expert in this area. However 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 traffic jam is that web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet executed assistance for NFT domains. Unstoppable Domains has an option for this, thanks to Cloudflare including assistance for their domains.