it is completely possible for your domain name to be taken…Bitcoin Dominance Over Time… You’re leasing it from the domain registry and they have full control over what happens with your domain name. I have actually talked about this sanctioned monopoly system prior to which you can discover more about in my “Domain frequently asked question” video but you don’t own your domain. It’s really difficult to own a traditional domain. You may have noticed, I stated traditional domain due to the fact that a business’s dealing with a new type of domain that you can own outright. I had the chance to interview 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 builds domain names on blockchains and this is different than a traditional domain since the domain name is saved by you, the user within your cryptocurrency wallet. It’s stored inside of your wallet, just like a cryptocurrency would be. And what this does is it suggests that no one 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 personal secret, which is on your device, like your phone or your computer system or whatever. – Today, when you go to buy a domain you don’t in fact own it. You’re leasing it from a domain registrar like Namecheap and they’re renting it at wholesale pricing from the domain pc registry. For.com domains that’s Verisign. Verisign holds the keys 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 incredibly uncommon, 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 pc registry comparable to like a Verisign. Since once we’ve 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 trusting the windows registry not to alter prices or take the domain far from you in the future. Our domain are one-time fees, so you never have to worry about it. Once you buy a domain name it’s more like buying a football from us. Like there’s absolutely 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 lot of these resellers. Therefore GoDaddy is a reseller for example of.com domains. We’re mainly selling our own domains at unstoppabledomains.com today. There are a couple of others that you can buy them. You can go to MyEtherWallet, for example, and you can buy them. So, yeah, I believe that’s something that’s going to construct. In regards to us getting going, it was a little simpler for us to sort of manage the entire user experience and build all these unique tools.
– Of course a new type of domain name indicates that you can’t register.com,. For now, Unstoppable Domains is catering to crypto lovers. It’s a totally different domain name system, suggesting 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 claiming to comprehend all the technical specifics of this new domain system. To be truthful, 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 but more on what it means for the future of the internet. The biggest bottleneck is that web web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet carried out assistance for NFT domains. Unstoppable Domains has a service for this, thanks to Cloudflare adding assistance for their domains.