You’re leasing it from the domain computer registry and they have full control over what happens with your domain name. You might have noticed, I stated conventional domain name because a business’s working on a new type of domain name that you can own outright. – So Unstoppable Domains builds domain names on blockchains and this is different than a standard domain due to the fact that the domain name is saved by you, the user inside of your cryptocurrency wallet.
They require to go and get your private key, which is on your gadget, like your phone or your computer system or whatever. – Today, when you go to acquire a domain name you do not in fact own it. You’re renting it from a domain registrar like Namecheap and they’re leasing it at wholesale pricing from the domain registry. For.com domains that’s Verisign. Verisign holds the secrets to every single.com domain. Which indicates they have the power to seize a domain name at any given time. Now, this is technically very uncommon, however it is possible. And it brings up an increasing problem with our internet, control. Brad calls this the power structure of a domain name system. – We’re a registry similar to like a Verisign. The class structure is extremely various because once we’ve 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 are one-time charges, so you never ever 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. We can’t update or edit or take the football away from you as soon as you have it. In the traditional world, there’s a great deal of these resellers. And so GoDaddy is a reseller for instance of.com domains. We’re primarily selling our own domains at unstoppabledomains.com right now. There are a couple of others that you can buy them. You can go to MyEtherWallet, for example, and you can purchase them. So, yeah, I believe that’s something that’s going to build. In terms of us getting going, it was a little easier for us to sort of handle the whole user experience and develop all these unique tools.
However if you were to like, you know picture what things are going to be like in five to 10 years. Yeah, there should be lots of different sellers and resellers and things like that. – Obviously a brand-new kind of domain means that you can’t register.com,. co,. net or any of the standard TLDs you’re used to seeing. Now Unstoppable Domains is beginning with.crypto. Not a TLD you ‘d consider being a perfect suitable for your blog or business but we could see some generic TLDs being offered in the future. For now, Unstoppable Domains is catering to crypto lovers. It’s a completely various domain system, suggesting 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 all over recently. Non-fungible tokens are units of information on a ledger, that is the blockchain and they represent a distinct digital item.
In this case, a domain. Now I’m not declaring to understand all the technical specifics of this brand-new domain system. To be sincere, I still fight with some of the ideas of cryptocurrency, and I’m not a specialist in this area. Today we’re not focusing as much on the technical side of NFT domains but more on what it suggests for the future of the web. The biggest traffic jam is that internet web browsers Google Chrome, Safari, and Microsoft Edge have not yet carried out assistance for NFT domains. Unstoppable Domains has a service for this, thanks to Cloudflare adding assistance for their domains.