You’re leasing it from the domain registry and they have full control over what happens with your domain name. You might have discovered, I stated traditional domain name because a company’s working on a brand-new type of domain name that you can own outright. – So Unstoppable Domains develops domain names on blockchains and this is different than a traditional domain due to the fact that the domain name is kept by you, the user inside of your cryptocurrency wallet.
They need 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 buy a domain you don’t in fact own it. You’re leasing it from a domain registrar like Namecheap and they’re leasing it at wholesale prices from the domain computer registry. For.com domains that’s Verisign. Verisign holds the keys to every single.com domain. Which means they have the power to take a domain at any provided time. Now, this is technically incredibly rare, but it is possible. And it brings up a rising problem with our web, control. Brad calls this the power structure of a domain system. – We’re a computer system registry comparable to like a Verisign. Because when we have actually offered you a domain there’s absolutely nothing that we can do, the power structure is very different. , if it’s a.com domain you’re trusting the windows registry not to alter prices or take the domain away from you in the future.. Our domain names are one-time costs, so you never have to fret about it. Once you buy a domain it’s more like purchasing a football from us. Like there’s absolutely nothing we can do. We can’t modify or upgrade or take the football away from you once you have it. In the conventional world, there’s a great deal of these resellers. And so GoDaddy is a reseller for example of.com domains. We’re mostly selling 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 instance, and you can purchase them. So, yeah, I believe 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 construct all these special tools.
– Of course a brand-new type of domain name means that you can’t register.com,. For now, Unstoppable Domains is catering to crypto enthusiasts. It’s an absolutely different domain name system, suggesting you can’t type craylor.crypto into your internet 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 truthful, I still struggle with a few of the principles 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 indicates for the future of the web. The biggest bottleneck is that internet web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet implemented support for NFT domains. Unstoppable Domains has an option for this, thanks to Cloudflare adding assistance for their domains.