You’re renting it from the domain computer system registry and they have full control over what takes place with your domain name. You might have seen, I said traditional domain name because a company’s working on a new type of domain name that you can own outright. – So Unstoppable Domains constructs domain names on blockchains and this is different than a conventional domain because the domain name is stored by you, the user inside of your cryptocurrency wallet.
They require to go and get your private secret, which is on your gadget, like your phone or your computer or whatever. – Today, when you go to acquire a domain name you don’t actually own it. You’re renting it from a domain registrar like Namecheap and they’re leasing it at wholesale rates from the domain computer system registry. For.com domains that’s Verisign. Verisign holds the keys to every single.com domain. And that implies they have the power to seize a domain at any offered time. Now, this is technically exceptionally uncommon, but it is possible. And it brings up a rising issue with our internet, control. Brad calls this the class structure of a domain system. – We’re a pc registry similar to like a Verisign. Since as soon as we have actually offered you a domain there’s absolutely nothing that we can do, the power structure is extremely different. If it’s a.com domain you’re trusting the computer registry not to alter rates or take the domain far from you in the future. Our domain are one-time costs, so you never need to fret 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. We can’t upgrade or modify or take the football far from you when you have it. In the traditional world, there’s a lot of these resellers. And so GoDaddy is a reseller for instance of.com domains. We’re mainly offering our own domains at unstoppabledomains.com right now. There are a couple of others that you can purchase them. You can go to MyEtherWallet, for instance, and you can buy them. Yeah, I think that’s something that’s going to construct. In terms of us beginning, it was a little easier for us to kind 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 5 to 10 years. Yeah, there should be lots of different sellers and resellers and things like that. – Obviously a new type of domain name indicates that you can’t register.com,. co,. net or any of the standard TLDs you’re utilized to seeing. Now Unstoppable Domains is starting with.crypto. Not a TLD you ‘d think of as being an ideal suitable for your blog site or service however we might see some generic TLDs being used in the future. For now, Unstoppable Domains is dealing with crypto lovers. It’s a totally various domain 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’ve most likely seen this term pop up everywhere 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 name. Now I’m not claiming to comprehend all the technical specifics of this new domain name system. To be truthful, I still fight with some of the concepts of cryptocurrency, and I’m not a professional in this space. Today we’re not focusing as much on the technical side of NFT domains but more on what it implies for the future of the web. The greatest traffic jam is that web browsers Google Chrome, Safari, and Microsoft Edge have not yet carried out support for NFT domains. Unstoppable Domains has a solution for this, thanks to Cloudflare including assistance for their domains.