it is entirely possible for your domain to be seized…Crypto Games… You’re leasing it from the domain windows registry and they have complete control over what happens with your domain name. I’ve talked about this approved monopoly system prior to which you can discover more about in my “Domain frequently asked question” video but you do not own your domain name. It’s actually difficult to own a conventional domain. You may have seen, I said traditional domain name because a business’s working on a brand-new type 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 simply believed this was truly, truly cool what Unstoppable Domains was doing. – So Unstoppable Domains builds domain names on blockchains and this is various than a conventional domain due to the fact that the domain name is saved by you, the user inside of your cryptocurrency wallet. So it’s stored 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, no one can do it.
They need to go and get your private key, which is on your gadget, like your phone or your computer or whatever. – Today, when you go to buy a domain you do not 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 implies they have the power to take a domain name at any provided time. Now, this is technically incredibly uncommon, however it is possible. And it raises a rising problem with our internet, control. Brad calls this the power structure of a domain system. – We’re a computer registry similar to like a Verisign. Due to the fact that once we’ve offered you a domain there’s 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 names are one-time charges, so you never ever have to fret about it. Once you purchase a domain it’s more like buying a football from us. Like there’s absolutely nothing we can do. As soon as you have it, we can’t update or modify or take the football away from you. 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 mainly selling 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 purchase them. Yeah, I think that’s something that’s going to construct. In terms of us getting started, it was a little easier for us to kind of handle the entire user experience and develop all these special tools.
But if you were to like, you know envision 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. – Of course a new type of domain indicates that you can’t register.com,. co,. net or any of the basic TLDs you’re used to seeing. Right now Unstoppable Domains is starting with.crypto. Not a TLD you ‘d think of as being a perfect suitable for your blog or business however we might see some generic TLDs being used in the future. For now, Unstoppable Domains is catering to crypto lovers. It’s an absolutely various 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 products. You’ve most likely seen this term appear all over recently. Non-fungible tokens are systems of data on a journal, that is the blockchain and they represent a special digital item.
In this case, a domain name. Now I’m not declaring to understand all the technical specifics of this new domain name system. To be sincere, I still deal with a few of the principles of cryptocurrency, and I’m not an expert in this area. Today we’re not focusing as much on the technical side of NFT domains but more on what it means for the future of the internet. The greatest bottleneck 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 support for their domains.