You’re renting it from the domain pc registry and they have full control over what happens with your domain name. You might have noticed, I said traditional domain name due to the fact that a company’s working on a new type of domain name that you can own outright. – So Unstoppable Domains constructs domain names on blockchains and this is various than a traditional domain since the domain name is kept by you, the user inside of your cryptocurrency wallet.
They need to go and get your private key, which is on your gadget, like your phone or your computer system or whatever. – Right now, when you go to buy a domain name you do not really 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 secrets to every single.com domain. Which means they have the power to seize a domain name at any offered time. Now, this is technically extremely unusual, but it is possible. And it brings up a rising problem with our web, control. Brad calls this the class structure of a domain name system. – We’re a pc registry comparable to like a Verisign. The class structure is very different 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 trusting the computer system registry not to alter costs or take the domain far from you in the future. Our domain names are one-time costs, so you never ever have to stress over it. Once you buy a domain it’s more like buying a football from us. Like there’s absolutely nothing we can do. We can’t edit or upgrade or take the football far from you once 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 today. There are a couple of others that you can buy them. You can go to MyEtherWallet, for instance, and you can buy them. So, yeah, I believe that’s something that’s going to build. In regards to us beginning, it was a little easier for us to kind of manage the whole user experience and build all these unique tools.
However if you were to like, you know picture what things are going to be like in five to ten years. Yeah, there should be great deals of different sellers and resellers and things like that. – Naturally a new kind of domain name indicates that you can’t register.com,. co,. net or any of the standard TLDs you’re used to seeing. Right now Unstoppable Domains is beginning with.crypto. Not a TLD you ‘d think of as being an ideal fit for your blog or service but we might see some generic TLDs being used in the future. In the meantime, Unstoppable Domains is accommodating crypto lovers. It’s an absolutely different domain system, meaning you can’t type craylor.crypto into your browser and load it or can you? See these crypto domains are NFT items. You’ve probably 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 product.
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 battle with a few of the principles of cryptocurrency, and I’m not a professional 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 web. The biggest bottleneck is that 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 including assistance for their domains.