it is totally possible for your domain to be seized…Bitcoin Dominance Over… You’re renting it from the domain computer registry and they have full control over what occurs with your domain name. I’ve spoken about this sanctioned monopoly system prior to which you can discover more about in my “Domain frequently asked question” video however you don’t own your domain name. It’s really difficult to own a conventional domain. You may have discovered, I said traditional domain because a business’s working on a new type of domain name that you can own outright. I had the possibility 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 actually, 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 within your wallet, just like a cryptocurrency would be. And what this does is it means 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 personal secret, which is on your device, like your phone or your computer or whatever. – Right now, when you go to purchase a domain name you don’t in fact own it. You’re leasing it from a domain registrar like Namecheap and they’re renting it at wholesale prices from the domain computer system 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 incredibly rare, however it is possible. And it brings up a rising problem with our web, control. Brad calls this the power structure of a domain name system. – We’re a windows registry similar to like a Verisign. The class structure is very various due to the fact that once we have actually sold you a domain there’s nothing that we can do. , if it’s a.com domain you’re trusting the registry not to alter rates or take the domain away from you in the future.. Our domain are one-time charges, so you never need to worry about it. Once you buy a domain it’s more like purchasing a football from us. Like there’s nothing we can do. Once you have it, we can’t upgrade or edit 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 example of.com domains. We’re mostly selling our own domains at unstoppabledomains.com today. There are a couple of others that you can purchase 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 terms of us starting, it was a little easier for us to sort of manage the whole user experience and build all these unique tools.
But if you were to like, you know imagine what things are going to resemble in 5 to ten years. Yeah, there should be great deals of different sellers and resellers and things like that. – Naturally a new type of domain implies that you can’t register.com,. co,. net or any of the basic TLDs you’re utilized to seeing. Now Unstoppable Domains is starting with.crypto. Not a TLD you ‘d consider being a perfect suitable for your blog site or organization however we could see some generic TLDs being used in the future. For now, Unstoppable Domains is dealing with crypto enthusiasts. It’s an absolutely various domain system, meaning you can’t type craylor.crypto into your internet browser and load it or can you? See these crypto domains are NFT items. You’ve probably seen this term turn up everywhere just recently. Non-fungible tokens are units of data on a journal, that is the blockchain and they represent an unique digital product.
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 honest, I still struggle with a few of the concepts of cryptocurrency, and I’m not a specialist in this area. But 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 web. The biggest traffic jam is that web web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet implemented assistance for NFT domains. Unstoppable Domains has a solution for this, thanks to Cloudflare adding assistance for their domains.