You’re renting it from the domain registry and they have complete control over what occurs with your domain name. You might have noticed, I stated traditional 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 develops domain names on blockchains and this is various than a traditional domain because 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. – Today, when you go to buy a domain you do not in fact 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 keys to every single.com domain. Which suggests 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 raises a rising issue with our internet, control. Brad calls this the class structure of a domain system. – We’re a computer system registry comparable to like a Verisign. The class structure is extremely various because when we’ve sold you a domain there’s absolutely nothing that we can do. , if it’s a.com domain you’re trusting the registry not to change rates or take the domain away from you in the future.. Our domain are one-time costs, so you never ever need to worry about it. As soon as you purchase a domain it’s more like buying a football from us. Like there’s absolutely nothing we can do. When you have it, we can’t modify or upgrade or take the football away from you. In the conventional world, there’s a great deal of these resellers. Therefore GoDaddy is a reseller for instance of.com domains. We’re mostly offering 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 purchase them. Yeah, I think that’s something that’s going to develop. In regards to us getting started, it was a little easier for us to sort of manage the entire user experience and develop all these unique tools.
– Of course a brand-new type of domain name means that you can’t register.com,. For now, Unstoppable Domains is catering to crypto lovers. It’s a totally different domain name system, meaning 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 declaring to understand all the technical specifics of this new domain name system. To be truthful, I still deal with a few of the ideas of cryptocurrency, and I’m not a professional 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 internet. The greatest bottleneck is that web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet carried out support for NFT domains. Unstoppable Domains has a service for this, thanks to Cloudflare including support for their domains.