it is totally possible for your domain to be seized…Bitcoin Dominance Historical Chart… You’re renting it from the domain pc registry and they have complete control over what occurs with your domain. I have actually talked about this approved monopoly system before which you can find out more about in my “Domain frequently asked question” video however you do not own your domain. It’s really difficult to own a conventional domain name. You may have discovered, I said standard domain name because a business’s working on a brand-new kind of domain 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 believed this was truly, actually cool what Unstoppable Domains was doing. – So Unstoppable Domains develops 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. So it’s saved within your wallet, similar to a cryptocurrency would be. And what this does is it implies that nobody else can move the domain around, take it away 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 secret, which is on your device, like your phone or your computer or whatever. – Today, when you go to buy 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 pc 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 at any offered time. Now, this is technically exceptionally uncommon, however it is possible. And it raises an increasing issue with our internet, control. Brad calls this the class structure of a domain system. – We’re a registry comparable to like a Verisign. The class structure is very various since once we have actually sold you a domain there’s absolutely nothing that we can do. If it’s a.com domain you’re trusting the registry not to change rates or take the domain away from you in the future. Our domain names are one-time fees, so you never ever need to worry about it. As soon as you purchase a domain it’s more like purchasing a football from us. Like there’s nothing we can do. As soon as you have it, we can’t edit or upgrade 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 offering our own domains at unstoppabledomains.com today. But there are a number of others that you can purchase them. You can go to MyEtherWallet, for example, and you can buy them. So, yeah, I believe that’s something that’s going to build. In terms of us starting, it was a little much easier for us to sort of handle the entire user experience and construct all these unique tools.
– Of course a brand-new type of domain name suggests that you can’t register.com,. For now, Unstoppable Domains is catering to crypto lovers. It’s an absolutely various domain name system, meaning you can’t type craylor.crypto into your web browser and load it or can you?
In this case, a domain name. Now I’m not declaring to understand all the technical specifics of this brand-new domain name system. To be sincere, I still have problem with a few of the concepts of cryptocurrency, and I’m not a professional in this area. 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 internet. The most significant bottleneck is that web web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet carried out support for NFT domains. Unstoppable Domains has a solution for this, thanks to Cloudflare adding support for their domains.