You’re renting it from the domain computer system registry and they have complete control over what happens with your domain name. You may have seen, I said conventional domain name because a business’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 different than a traditional domain because the domain name is kept by you, the user inside of your cryptocurrency wallet.
– Right now, when you go to buy a domain name you do not actually 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. If it’s a.com domain you’re relying on the computer system registry not to alter prices or take the domain away from you in the future.
However if you were to like, you understand imagine what things are going to be like in 5 to ten years. Yeah, there need to be lots of various sellers and resellers and things like that. – Obviously a brand-new kind of domain name implies that you can’t register.com,. co,. net or any of the standard TLDs you’re utilized to seeing. Now Unstoppable Domains is beginning with.crypto. Not a TLD you ‘d consider being an ideal fit for your blog or organization but we could see some generic TLDs being used in the future. In the meantime, Unstoppable Domains is dealing with crypto lovers. It’s a totally different domain name 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 most likely seen this term pop up everywhere recently. Non-fungible tokens are units of data on a ledger, that is the blockchain and they represent a special digital product.
In this case, a domain. Now I’m not declaring to comprehend all the technical specifics of this new domain name system. To be honest, I still battle with some of the principles of cryptocurrency, and I’m not a specialist in this space. 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 most significant bottleneck is that internet browsers Google Chrome, Safari, and Microsoft Edge have not yet executed support for NFT domains. Unstoppable Domains has a solution for this, thanks to Cloudflare including support for their domains.