You’re leasing it from the domain computer system registry and they have complete control over what occurs with your domain name. You may have noticed, I stated standard domain name since a company’s working on a brand-new type of domain name that you can own outright. – So Unstoppable Domains builds domain names on blockchains and this is different than a conventional domain because the domain name is kept by you, the user inside of your cryptocurrency wallet.
They require 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 do not in fact own it. You’re renting it from a domain registrar like Namecheap and they’re leasing it at wholesale prices from the domain windows 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 at any offered time. Now, this is technically extremely rare, however it is possible. And it raises a rising problem with our internet, control. Brad calls this the power structure of a domain name system. – We’re a windows registry similar to like a Verisign. Since as soon as we have actually offered 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 computer registry not to alter rates or take the domain away from you in the future. Our domain are one-time costs, so you never need to worry about it. As soon as you purchase a domain it’s more like buying a football from us. Like there’s nothing we can do. Once you have it, we can’t update or edit or take the football away from you. In the traditional world, there’s a great deal of these resellers. And so GoDaddy is a reseller for example of.com domains. We’re mainly offering our own domains at unstoppabledomains.com right now. There are a couple of others that you can buy them. You can go to MyEtherWallet, for example, and you can buy 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 handle the entire user experience and construct all these special tools.
– Of course a brand-new type of domain name suggests that you can’t register.com,. For now, Unstoppable Domains is catering to crypto enthusiasts. It’s an absolutely different domain name system, meaning you can’t type craylor.crypto into your web browser and load it or can you?
In this case, a domain name. Now I’m not declaring to comprehend all the technical specifics of this new domain system. To be honest, I still struggle with a few of the principles of cryptocurrency, and I’m not an expert in this space. Today we’re not focusing as much on the technical side of NFT domains but more on what it implies for the future of the internet. The greatest traffic jam is that internet web 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.