You’re renting it from the domain computer system registry and they have complete control over what happens with your domain name. You might have noticed, I said conventional domain name due to the fact that a business’s working on a brand-new type of domain name that you can own outright. – So Unstoppable Domains builds domain names on blockchains and this is various than a traditional domain because the domain name is stored by you, the user inside of your cryptocurrency wallet.
They need to go and get your personal key, which is on your device, like your phone or your computer or whatever. – Today, when you go to purchase a domain you don’t actually own it. You’re leasing it from a domain registrar like Namecheap and they’re leasing it at wholesale prices from the domain windows registry. For.com domains that’s Verisign. Verisign holds the keys to every single.com domain. Which suggests they have the power to seize a domain at any provided time. Now, this is technically extremely rare, but it is possible. And it raises a rising issue with our web, control. Brad calls this the class structure of a domain name system. – We’re a computer system registry comparable to like a Verisign. Because once we have actually sold you a domain there’s nothing that we can do, the power structure is really different. If it’s a.com domain you’re trusting the computer system registry not to change prices or take the domain away from you in the future. Our domain names are one-time costs, so you never ever have to worry about it. When you buy a domain name it’s more like purchasing a football from us. Like there’s absolutely nothing we can do. We can’t upgrade or edit or take the football far from you when you have it. In the traditional world, there’s a lot of these resellers. Therefore GoDaddy is a reseller for example of.com domains. We’re mostly offering our own domains at unstoppabledomains.com today. There are a couple of others that you can purchase them. You can go to MyEtherWallet, for example, and you can purchase them. Yeah, I think that’s something that’s going to construct. In regards to us beginning, it was a little simpler for us to sort of manage the entire user experience and construct all these special tools.
If you were to like, you understand picture what things are going to be like in 5 to 10 years. Yeah, there must be lots of various sellers and resellers and things like that. – Obviously a new kind of domain implies that you can’t register.com,. co,. net or any of the basic TLDs you’re used to seeing. Right now Unstoppable Domains is beginning with.crypto. Not a TLD you ‘d think of as being a perfect suitable for your blog site or organization but we might see some generic TLDs being offered in the future. In the meantime, Unstoppable Domains is accommodating crypto enthusiasts. It’s a completely various domain 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 have actually probably seen this term pop up all over just recently. Non-fungible tokens are systems of information on a ledger, 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 truthful, I still deal with a few of the principles of cryptocurrency, and I’m not an expert in this space. But today we’re not focusing as much on the technical side of NFT domains however more on what it means for the future of the web. The biggest 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.