it is entirely possible for your domain to be taken…Myetherwallet Crypto Domain… You’re renting it from the domain computer registry and they have full control over what occurs with your domain name. I’ve spoken about this approved monopoly system before which you can learn more about in my “Domain FAQ” video but you don’t own your domain name. It’s really difficult to own a standard domain name. You might have noticed, I said standard domain because a company’s dealing with a new type of domain that you can own outright. I had the chance to interview 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 believed this was really, actually cool what Unstoppable Domains was doing. – So Unstoppable Domains builds domain names on blockchains and this is various than a conventional domain since the domain is saved by you, the user inside of your cryptocurrency wallet. It’s stored inside of your wallet, just like a cryptocurrency would be. And what this does is it suggests that no one else can move the domain around, take it away from you, make updates to the domain, anything. Unstoppable Domains can’t do it, nobody can do it.
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 buy a domain you don’t in fact own it. You’re renting it from a domain registrar like Namecheap and they’re renting it at wholesale prices from the domain pc registry. For.com domains that’s Verisign. Verisign holds the keys to every single.com domain. Which suggests they have the power to take a domain at any given time. Now, this is technically very rare, however it is possible. And it raises a rising problem with our internet, control. Brad calls this the class structure of a domain name system. – We’re a computer system registry similar to like a Verisign. The class structure is extremely various due to the fact that when we have actually offered you a domain there’s nothing that we can do. If it’s a.com domain you’re trusting the computer registry not to alter prices or take the domain far from you in the future. Our domain are one-time charges, so you never have to fret about it. Once you buy a domain name it’s more like purchasing a football from us. Like there’s nothing we can do. We can’t upgrade or modify or take the football away from you once you have it. In the standard world, there’s a lot of these resellers. And so GoDaddy is a reseller for instance of.com domains. We’re mostly selling our own domains at unstoppabledomains.com right now. However 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 construct. In regards to us starting, it was a little much easier for us to kind of manage the whole user experience and construct all these unique tools.
However if you were to like, you understand picture 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 brand-new type of domain means that you can’t register.com,. co,. net or any of the standard TLDs you’re utilized to seeing. Right now Unstoppable Domains is starting with.crypto. Not a TLD you ‘d consider being a perfect fit for your blog or company but we could see some generic TLDs being offered in the future. For now, Unstoppable Domains is dealing with crypto enthusiasts. It’s a totally various domain system, meaning you can’t type craylor.crypto into your internet browser and load it or can you? See these crypto domains are NFT items. You have actually probably seen this term pop up all over just recently. Non-fungible tokens are systems of data on a ledger, that is the blockchain and they represent a special digital product.
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 honest, I still have problem 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 but more on what it means for the future of the web. The biggest bottleneck is that web web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet carried out support for NFT domains. Unstoppable Domains has an option for this, thanks to Cloudflare adding assistance for their domains.