it is entirely possible for your domain to be seized…Namecoin To Use… You’re renting it from the domain computer system registry and they have complete control over what happens with your domain. I’ve talked about this approved monopoly system prior to which you can learn more about in my “Domain frequently asked question” video however you do not own your domain name. It’s in fact impossible to own a traditional domain name. You may have seen, I stated standard domain since a company’s working on a brand-new kind of domain name that you can own outright. I had the possibility 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 simply thought this was really, really cool what Unstoppable Domains was doing. – So Unstoppable Domains constructs domain names on blockchains and this is different than a standard domain due to the fact that the domain name is saved by you, the user within your cryptocurrency wallet. It’s kept inside of your wallet, just like a cryptocurrency would be. And what this does is it means 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, no one can do it.
They need to go and get your private key, which is on your device, like your phone or your computer or whatever. – Today, when you go to acquire a domain name you do not actually own it. You’re renting it from a domain registrar like Namecheap and they’re renting it at wholesale rates from the domain computer system registry. For.com domains that’s Verisign. Verisign holds the secrets to every single.com domain. Which indicates they have the power to take a domain at any offered time. Now, this is technically exceptionally rare, however it is possible. And it raises a rising problem with our internet, control. Brad calls this the class structure of a domain system. – We’re a computer registry similar to like a Verisign. The power structure is really various since as soon as we have actually offered 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 costs 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. Once you purchase a domain name it’s more like purchasing a football from us. Like there’s nothing we can do. As soon as you have it, we can’t upgrade or edit or take the football away from you. In the standard world, there’s a great deal of these resellers. And so GoDaddy is a reseller for example of.com domains. We’re mostly offering 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 example, and you can buy them. Yeah, I think that’s something that’s going to build. In regards to us beginning, it was a little easier for us to kind of handle the entire user experience and build all these unique tools.
If you were to like, you know imagine what things are going to be like in 5 to 10 years. Yeah, there need to be great deals of various sellers and resellers and things like that. – Obviously a brand-new type of domain name implies that you can’t register.com,. co,. net or any of the basic TLDs you’re utilized to seeing. Right now Unstoppable Domains is beginning with.crypto. Not a TLD you ‘d think of as being an ideal fit for your blog or company however we might see some generic TLDs being provided in the future. In the meantime, Unstoppable Domains is catering to crypto lovers. It’s an absolutely various domain name system, suggesting 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 all over recently. Non-fungible tokens are units of information on a ledger, that is the blockchain and they represent an unique 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 truthful, I still have problem with a few of the principles of cryptocurrency, and I’m not a professional in this area. However today we’re not focusing as much on the technical side of NFT domains however more on what it implies for the future of the web. The greatest bottleneck is that internet web browsers Google Chrome, Safari, and Microsoft Edge have not yet executed assistance for NFT domains. Unstoppable Domains has a service for this, thanks to Cloudflare adding assistance for their domains.