it is completely possible for your domain to be taken…Namecoin Vs Blockstack… You’re leasing it from the domain computer system registry and they have complete control over what occurs with your domain. I’ve talked about this approved monopoly system prior to which you can find out more about in my “Domain frequently asked question” video however you don’t own your domain. It’s really difficult to own a standard domain name. You might have discovered, I said traditional domain since a company’s working on a brand-new kind 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 simply believed this was actually, actually cool what Unstoppable Domains was doing. – So Unstoppable Domains builds domain on blockchains and this is various than a conventional domain because the domain name is stored by you, the user within your cryptocurrency wallet. So it’s saved within your wallet, much like a cryptocurrency would be. And what this does is it indicates that nobody 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 private key, which is on your device, like your phone or your computer or whatever. – Right now, when you go to purchase a domain name you do not actually own it. You’re leasing it from a domain registrar like Namecheap and they’re leasing it at wholesale pricing from the domain computer registry. For.com domains that’s Verisign. Verisign holds the keys to every single.com domain. And that implies they have the power to take a domain name at any provided time. Now, this is technically very uncommon, but it is possible. And it brings up a rising issue with our web, control. Brad calls this the power structure of a domain system. – We’re a computer system registry comparable to like a Verisign. Due to the fact that once we have actually sold you a domain there’s nothing that we can do, the power structure is extremely different. If it’s a.com domain you’re relying on the windows registry not to change costs or take the domain away from you in the future. Our domain are one-time fees, so you never ever need to stress over it. As soon as you buy a domain it’s more like buying a football from us. Like there’s absolutely nothing we can do. We can’t edit or upgrade or take the football far from you as soon as 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 mainly selling 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 believe that’s something that’s going to develop. In regards to us starting, it was a little easier for us to type of handle the entire user experience and build all these special tools.
If you were to like, you understand envision what things are going to be like in five to 10 years. Yeah, there should be great deals of various sellers and resellers and things like that. – Of course a brand-new type of domain suggests that you can’t register.com,. co,. net or any of the basic TLDs you’re used to seeing. Right now Unstoppable Domains is beginning with.crypto. Not a TLD you ‘d consider being an ideal fit for your blog or company however we might see some generic TLDs being offered in the future. In the meantime, Unstoppable Domains is catering to crypto lovers. It’s a totally different domain system, suggesting you can’t type craylor.crypto into your internet browser and load it or can you? See these crypto domains are NFT products. You’ve most likely seen this term turn up all over just recently. Non-fungible tokens are systems of information on a ledger, that is the blockchain and they represent an unique digital item.
In this case, a domain. Now I’m not claiming to comprehend all the technical specifics of this brand-new domain system. To be sincere, I still fight with a few of the principles of cryptocurrency, and I’m not a specialist in this area. 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 greatest traffic jam is that internet browsers Google Chrome, Safari, and Microsoft Edge have actually not yet executed assistance for NFT domains. Unstoppable Domains has an option for this, thanks to Cloudflare adding assistance for their domains.