it is entirely possible for your domain name to be taken…Nft Top Level Domain… You’re renting it from the domain computer registry and they have complete control over what happens with your domain name. I’ve discussed this sanctioned monopoly system before which you can discover more about in my “Domain FAQ” video however you don’t own your domain name. It’s in fact difficult to own a traditional domain. You might have discovered, I said traditional domain name since a company’s dealing with a new type of domain that you can own outright. I had the chance to talk to 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, truly cool what Unstoppable Domains was doing. – So Unstoppable Domains builds domain names on blockchains and this is different than a conventional domain since the domain is kept by you, the user within your cryptocurrency wallet. So it’s stored inside of your wallet, just 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, no one can do it.
They require to go and get your private secret, which is on your device, like your phone or your computer system or whatever. – Today, when you go to acquire a domain name you don’t in fact own it. You’re leasing it from a domain registrar like Namecheap and they’re leasing it at wholesale prices from the domain pc registry. For.com domains that’s Verisign. Verisign holds the secrets to every single.com domain. Which means they have the power to take a domain name at any given time. Now, this is technically extremely rare, but it is possible. And it raises an increasing problem with our web, control. Brad calls this the class structure of a domain name system. – We’re a computer system registry similar to like a Verisign. Due to the fact that as soon as we’ve offered you a domain there’s absolutely nothing that we can do, the power structure is very different. If it’s a.com domain you’re trusting the pc registry not to alter prices or take the domain far from you in the future. Our domain names are one-time charges, so you never ever need to stress over it. When you purchase a domain it’s more like buying a football from us. Like there’s nothing we can do. We can’t edit or update or take the football away from you when you have it. In the standard world, there’s a lot of these resellers. Therefore GoDaddy is a reseller for instance of.com domains. We’re mostly offering our own domains at unstoppabledomains.com right now. However there are a number of others that you can buy them. You can go to MyEtherWallet, for example, and you can purchase them. Yeah, I think that’s something that’s going to build. In regards to us getting going, it was a little easier for us to type of manage the whole user experience and develop all these unique tools.
If you were to like, you understand picture what things are going to be like in 5 to 10 years. Yeah, there need to be lots of various sellers and resellers and things like that. – Obviously a brand-new kind of domain means that you can’t register.com,. co,. net or any of the basic TLDs you’re used to seeing. Now Unstoppable Domains is beginning with.crypto. Not a TLD you ‘d think of as being an ideal suitable for your blog site or service but we could see some generic TLDs being provided in the future. In the meantime, Unstoppable Domains is catering to crypto lovers. It’s a totally different domain system, implying you can’t type craylor.crypto into your 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 data on a journal, that is the blockchain and they represent a distinct digital item.
In this case, a domain name. Now I’m not claiming to comprehend all the technical specifics of this new domain name system. To be honest, I still have problem with some of the concepts 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 however more on what it suggests for the future of the web. The most significant bottleneck is that internet web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet implemented assistance for NFT domains. Unstoppable Domains has a service for this, thanks to Cloudflare including assistance for their domains.