You’re leasing it from the domain registry and they have full control over what happens with your domain name. You might have seen, I said traditional domain name due to the fact that a company’s working on a brand-new type of domain name that you can own outright. – So Unstoppable Domains constructs domain names on blockchains and this is various than a traditional domain since the domain name is kept by you, the user inside of your cryptocurrency wallet.
They need to go and get your personal key, which is on your gadget, like your phone or your computer system or whatever. – Today, when you go to purchase a domain you do not really own it. You’re renting it from a domain registrar like Namecheap and they’re renting it at wholesale pricing from the domain pc registry. For.com domains that’s Verisign. Verisign holds the secrets to every single.com domain. And that means they have the power to seize a domain at any provided time. Now, this is technically incredibly rare, but it is possible. And it brings up an increasing issue with our web, control. Brad calls this the class structure of a domain name system. – We’re a registry comparable to like a Verisign. Since when we have actually sold you a domain there’s nothing that we can do, the power structure is very different. If it’s a.com domain you’re trusting the windows registry not to alter rates or take the domain far from you in the future. Our domain names are one-time fees, so you never need to fret about it. When you purchase a domain name it’s more like buying a football from us. Like there’s absolutely nothing we can do. As soon as you have it, we can’t modify or update or take the football away from you. In the traditional world, there’s a great deal of these resellers. Therefore GoDaddy is a reseller for example of.com domains. We’re mostly offering our own domains at unstoppabledomains.com right now. However there are a couple of others that you can purchase 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 terms of us starting, it was a little easier for us to sort of handle the whole user experience and build all these unique tools.
If you were to like, you know envision what things are going to be like in 5 to 10 years. Yeah, there need to be great deals of different sellers and resellers and things like that. – Of course a brand-new type of domain name means that you can’t register.com,. co,. net or any of the standard TLDs you’re used to seeing. Now Unstoppable Domains is starting with.crypto. Not a TLD you ‘d consider being a perfect fit for your blog site or company but we could see some generic TLDs being provided in the future. In the meantime, Unstoppable Domains is dealing with crypto lovers. It’s a completely different domain name system, indicating you can’t type craylor.crypto into your internet browser and load it or can you? See these crypto domains are NFT items. You’ve probably seen this term appear all over just recently. Non-fungible tokens are systems of data on a journal, that is the blockchain and they represent an unique digital product.
In this case, a domain name. Now I’m not claiming to comprehend all the technical specifics of this brand-new domain name system. Unstoppable Domains has an option for this, thanks to Cloudflare adding assistance for their domains.