it is entirely possible for your domain name to be taken…Coinmarket Namecoin… You’re leasing it from the domain windows registry and they have complete control over what happens with your domain. I’ve discussed this approved monopoly system prior to which you can find out more about in my “Domain FAQ” video but you do not own your domain. It’s actually impossible to own a standard domain name. You might have noticed, I stated conventional domain name because a company’s working on a new kind of domain name that you can own outright. I had the opportunity 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 believed this was really, truly cool what Unstoppable Domains was doing. – So Unstoppable Domains develops domain on blockchains and this is different than a conventional domain due to the fact that the domain is stored by you, the user inside of your cryptocurrency wallet. So it’s saved inside of your wallet, similar to a cryptocurrency would be. And what this does is it indicates that nobody else can move the domain around, take it away from you, make updates to the domain, anything. Unstoppable Domains can’t do it, no one can do it.
– Right now, when you go to purchase a domain name you don’t actually own it. You’re leasing it from a domain registrar like Namecheap and they’re renting it at wholesale rates from the domain computer registry. If it’s a.com domain you’re relying on the computer registry not to alter prices or take the domain away from you in the future.
But if you were to like, you understand picture what things are going to resemble in 5 to 10 years. Yeah, there should be lots of various sellers and resellers and things like that. – Of course a new type of domain implies that you can’t register.com,. co,. net or any of the standard TLDs you’re used to seeing. Today Unstoppable Domains is starting with.crypto. Not a TLD you ‘d consider being an ideal fit for your blog or organization but we might see some generic TLDs being used in the future. For now, Unstoppable Domains is accommodating crypto lovers. It’s a totally different domain name system, implying you can’t type craylor.crypto into your web browser and load it or can you? See these crypto domains are NFT items. You’ve probably seen this term turn up all over just recently. Non-fungible tokens are units of data on a journal, that is the blockchain and they represent a distinct digital product.
In this case, a domain. Now I’m not declaring to understand all the technical specifics of this brand-new domain name system. To be sincere, I still struggle with some of the ideas 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 but more on what it indicates for the future of the internet. The biggest bottleneck is that web web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet executed assistance for NFT domains. Unstoppable Domains has a solution for this, thanks to Cloudflare including support for their domains.