You’re renting it from the domain registry and they have complete control over what happens with your domain name. You may have observed, I said standard domain name since a company’s working on a brand-new type of domain name that you can own outright. – So Unstoppable Domains constructs domain names on blockchains and this is various than a conventional domain since the domain name is stored by you, the user inside of your cryptocurrency wallet.
They need to go and get your private secret, which is on your device, like your phone or your computer system or whatever. – Right now, when you go to purchase 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 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 at any offered time. Now, this is technically incredibly unusual, but it is possible. And it brings up a rising problem with our internet, control. Brad calls this the power structure of a domain name system. – We’re a windows registry comparable to like a Verisign. Since once we’ve sold you a domain there’s absolutely nothing that we can do, the power structure is extremely different. , if it’s a.com domain you’re relying on the computer system registry not to change costs or take the domain away from you in the future.. Our domain names are one-time fees, so you never need to worry about it. When you buy a domain it’s more like buying a football from us. Like there’s nothing we can do. We can’t edit or update or take the football away from you when you have it. In the conventional world, there’s a great deal of these resellers. Therefore GoDaddy is a reseller for instance of.com domains. We’re mainly selling our own domains at unstoppabledomains.com right now. But there are a couple of others that you can buy them. You can go to MyEtherWallet, for instance, and you can purchase them. So, yeah, I think that’s something that’s going to develop. In terms of us beginning, it was a little simpler for us to kind of manage the whole user experience and develop all these unique tools.
– Of course a new type of domain name suggests that you can’t register.com,. For now, Unstoppable Domains is catering to crypto enthusiasts. It’s an absolutely various domain name system, suggesting you can’t type craylor.crypto into your browser and load it or can you?
In this case, a domain name. Now I’m not claiming to comprehend all the technical specifics of this new domain system. To be sincere, I still fight with a few of the principles of cryptocurrency, and I’m not an expert in this space. Today we’re not focusing as much on the technical side of NFT domains however more on what it indicates for the future of the web. The most significant traffic jam is that web web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet executed support for NFT domains. Unstoppable Domains has a service for this, thanks to Cloudflare adding assistance for their domains.