it is completely possible for your domain to be seized…Mining Dogecoin Namecoin… You’re leasing it from the domain computer system registry and they have full control over what occurs with your domain name. I have actually spoken about this sanctioned monopoly system before which you can learn more about in my “Domain FAQ” video however you don’t own your domain name. It’s actually impossible to own a conventional domain name. You may have seen, I stated traditional domain because a business’s working on a new type of domain name that you can own outright. I had the opportunity to speak with 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 just thought this was truly, truly cool what Unstoppable Domains was doing. – So Unstoppable Domains develops domain names on blockchains and this is various than a standard domain since the domain name is saved by you, the user inside of your cryptocurrency wallet. It’s kept inside of your wallet, simply like a cryptocurrency would be. And what this does is it implies that no one 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 gadget, like your phone or your computer system or whatever. – Right now, when you go to buy a domain you do not really own it. You’re renting it from a domain registrar like Namecheap and they’re renting it at wholesale pricing from the domain registry. For.com domains that’s Verisign. Verisign holds the secrets to every single.com domain. And that indicates they have the power to seize a domain at any given time. Now, this is technically incredibly unusual, but it is possible. And it brings up a rising issue with our internet, control. Brad calls this the class structure of a domain name system. – We’re a windows registry comparable to like a Verisign. The power structure is very various since as soon as we have actually sold you a domain there’s nothing that we can do. If it’s a.com domain you’re relying on the computer registry not to change costs or take the domain far from you in the future. Our domain are one-time costs, so you never need to fret about it. As soon as you buy a domain name it’s more like buying a football from us. Like there’s absolutely nothing we can do. Once you have it, we can’t edit or update or take the football away from you. In the conventional world, there’s a lot of these resellers. And so GoDaddy is a reseller for example of.com domains. We’re mainly selling our own domains at unstoppabledomains.com today. But there are a number of others that you can buy them. You can go to MyEtherWallet, for instance, and you can purchase them. Yeah, I believe that’s something that’s going to build. In regards to us getting started, it was a little much easier for us to type of manage the entire user experience and develop all these special tools.
If you were to like, you know picture what things are going to be like in 5 to 10 years. Yeah, there need to be lots of different sellers and resellers and things like that. – Of course a brand-new kind of domain name suggests 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 consider being a perfect suitable for your blog site or service however we might see some generic TLDs being offered in the future. In the meantime, Unstoppable Domains is accommodating crypto lovers. It’s an absolutely different 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 probably seen this term pop up everywhere just recently. Non-fungible tokens are systems of data 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 brand-new domain system. To be sincere, 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 but more on what it suggests for the future of the internet. The greatest bottleneck is that internet 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 support for their domains.