FInd The Use Of Blockchain Technology In Different Application Domains

 

it is entirely possible for your domain to be taken…The Use Of Blockchain Technology In Different Application Domains… You’re renting it from the domain computer registry and they have complete control over what happens with your domain name. I have actually discussed this approved monopoly system before which you can learn more about in my “Domain FAQ” video but you don’t own your domain. It’s actually impossible to own a conventional domain name. You might have noticed, I stated conventional domain due to the fact that a business’s dealing with a brand-new kind of domain 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 truly, really cool what Unstoppable Domains was doing. – So Unstoppable Domains constructs domain names on blockchains and this is different than a conventional domain due to the fact that the domain is kept by you, the user inside of your cryptocurrency wallet. So it’s kept within your wallet, just like a cryptocurrency would be. And what this does is it implies 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 secret, which is on your device, like your phone or your computer or whatever. – Right now, when you go to buy a domain you don’t actually own it. You’re leasing it from a domain registrar like Namecheap and they’re leasing 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 suggests they have the power to take a domain at any given time. Now, this is technically extremely rare, but it is possible. And it raises an increasing issue with our web, control. Brad calls this the class structure of a domain name system. – We’re a windows registry comparable to like a Verisign. The class structure is very different since as soon as we have actually sold you a domain there’s nothing that we can do. If it’s a.com domain you’re relying on the computer system 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 ever have to worry about it. As soon as you purchase a domain it’s more like buying a football from us. Like there’s absolutely nothing we can do. When you have it, we can’t update or modify or take the football away from you. In the conventional world, there’s a lot of these resellers. And so GoDaddy is a reseller for instance 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 think that’s something that’s going to develop. In terms of us starting, it was a little much easier for us to type of manage the whole user experience and construct all these special tools.

If you were to like, you know imagine what things are going to be like in 5 to 10 years. Yeah, there ought to be lots 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 standard TLDs you’re utilized to seeing. Now Unstoppable Domains is beginning with.crypto. Not a TLD you ‘d consider being a perfect fit for your blog or organization but we might see some generic TLDs being offered in the future. For now, Unstoppable Domains is catering to crypto lovers. It’s a completely various domain system, meaning you can’t type craylor.crypto into your web browser and load it or can you? See these crypto domains are NFT items. You have actually probably seen this term pop up everywhere just recently. Non-fungible tokens are units of information on a ledger, that is the blockchain and they represent a special digital item.

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 a solution for this, thanks to Cloudflare adding assistance for their domains.