it is entirely possible for your domain name to be seized…Ens Vs Unstoppable Domains… You’re leasing it from the domain pc registry and they have complete control over what happens with your domain name. I have actually discussed this sanctioned monopoly system prior to which you can learn more about in my “Domain frequently asked question” video however you don’t own your domain. It’s in fact impossible to own a traditional domain. You may have observed, I stated conventional domain because a company’s working on a new kind of domain name that you can own outright. I had the chance to talk to 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 thought this was actually, really cool what Unstoppable Domains was doing. – So Unstoppable Domains builds domain names on blockchains and this is different than a conventional domain due to the fact that the domain is stored by you, the user within your cryptocurrency wallet. It’s kept inside of your wallet, just like a cryptocurrency would be. And what this does is it suggests that nobody else can move the domain around, take it far from you, make updates to the domain, anything. Unstoppable Domains can’t do it, nobody can do it.
They require to go and get your personal secret, which is on your device, like your phone or your computer or whatever. – Right now, when you go to acquire a domain you don’t really own it. You’re renting 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 implies they have the power to seize a domain at any given time. Now, this is technically incredibly unusual, however it is possible. And it brings up a rising problem with our web, control. Brad calls this the class structure of a domain system. – We’re a computer system registry similar to like a Verisign. The power structure is extremely various since 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 change rates or take the domain far from you in the future. Our domain are one-time charges, so you never need to worry about it. As soon as you purchase a domain 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 standard 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. Yeah, I believe that’s something that’s going to develop. In regards to us getting started, it was a little simpler for us to kind of manage the whole user experience and build all these special tools.
But if you were to like, you understand envision what things are going to resemble in five to ten years. Yeah, there should be lots of different sellers and resellers and things like that. – Naturally a new kind of domain indicates that you can’t register.com,. co,. net or any of the standard 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 or company however we could see some generic TLDs being used in the future. For now, Unstoppable Domains is accommodating crypto lovers. It’s an absolutely various domain name system, suggesting you can’t type craylor.crypto into your browser and load it or can you? See these crypto domains are NFT products. You’ve most likely seen this term pop up everywhere recently. Non-fungible tokens are units of information on a ledger, that is the blockchain and they represent an unique digital product.
In this case, a domain name. Now I’m not claiming to understand all the technical specifics of this new domain system. To be truthful, I still fight with a few of the ideas of cryptocurrency, and I’m not a specialist in this area. 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 internet. The greatest bottleneck is that web web browsers Google Chrome, Safari, and Microsoft Edge have not yet carried out assistance for NFT domains. Unstoppable Domains has a service for this, thanks to Cloudflare adding assistance for their domains.