You’re renting it from the domain computer registry and they have full control over what takes place with your domain name. You might have noticed, I stated standard domain name since a company’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 conventional domain because the domain name is kept by you, the user inside of your cryptocurrency wallet.
They require to go and get your personal secret, which is on your gadget, like your phone or your computer system or whatever. – Today, when you go to purchase a domain name you do not actually own it. You’re renting it from a domain registrar like Namecheap and they’re renting it at wholesale pricing from the domain computer system registry. For.com domains that’s Verisign. Verisign holds the keys to every single.com domain. Which suggests they have the power to take a domain at any given time. Now, this is technically extremely rare, 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 computer system registry comparable to like a Verisign. The class structure is extremely various due to the fact that when we have actually sold you a domain there’s absolutely nothing that we can do. If it’s a.com domain you’re relying on the computer system registry not to alter prices or take the domain far from you in the future. Our domain names are one-time fees, so you never have to fret about it. As soon as you purchase a domain name it’s more like buying a football from us. Like there’s nothing we can do. When you have it, we can’t edit or update or take the football away from you. In the conventional world, there’s a lot of these resellers. Therefore GoDaddy is a reseller for example of.com domains. We’re mostly selling our own domains at unstoppabledomains.com today. There are a couple of others that you can purchase them. You can go to MyEtherWallet, for instance, and you can buy them. So, yeah, I think that’s something that’s going to develop. In regards to us getting going, it was a little much easier for us to kind of handle the whole user experience and construct all these unique tools.
If you were to like, you know picture what things are going to be like in 5 to 10 years. Yeah, there need to be great deals of different sellers and resellers and things like that. – Of course a new type of domain name suggests that you can’t register.com,. co,. net or any of the basic TLDs you’re utilized to seeing. Today Unstoppable Domains is starting with.crypto. Not a TLD you ‘d consider being an ideal suitable for your blog site or organization however we could see some generic TLDs being offered in the future. In the meantime, Unstoppable Domains is accommodating crypto enthusiasts. It’s a completely various domain name system, meaning you can’t type craylor.crypto into your browser and load it or can you? See these crypto domains are NFT products. You have actually probably seen this term pop up everywhere recently. Non-fungible tokens are systems of data on a ledger, 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 new domain name system. To be truthful, I still have problem with a few of the ideas 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 means for the future of the web. The most significant bottleneck is that web web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet executed support for NFT domains. Unstoppable Domains has a solution for this, thanks to Cloudflare including assistance for their domains.