You’re leasing it from the domain pc registry and they have full control over what happens with your domain name. You might have discovered, I said traditional domain name since a company’s working on a new type of domain name that you can own outright. – So Unstoppable Domains builds domain names on blockchains and this is different than a traditional domain since the domain name is kept by you, the user inside of your cryptocurrency wallet.
They require to go and get your private key, which is on your device, like your phone or your computer system or whatever. – Right now, when you go to purchase a domain name you do not actually own it. You’re renting it from a domain registrar like Namecheap and they’re renting it at wholesale prices from the domain registry. For.com domains that’s Verisign. Verisign holds the secrets to every single.com domain. And that suggests they have the power to take a domain name at any given time. Now, this is technically very uncommon, but it is possible. And it brings up a rising problem with our web, control. Brad calls this the power structure of a domain system. – We’re a windows registry comparable to like a Verisign. The class structure is very various because once we have actually offered you a domain there’s nothing that we can do. If it’s a.com domain you’re trusting the computer system registry not to alter prices or take the domain away from you in the future. Our domain are one-time charges, so you never need to fret 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. When you have it, we can’t upgrade or edit 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 example of.com domains. We’re mostly selling our own domains at unstoppabledomains.com today. There are a couple of others that you can purchase them. You can go to MyEtherWallet, for instance, and you can purchase them. So, yeah, I believe that’s something that’s going to develop. In terms of us getting started, it was a little much easier for us to kind of manage the whole user experience and develop all these unique tools.
If you were to like, you understand envision what things are going to be like in five to 10 years. Yeah, there must be lots of different sellers and resellers and things like that. – Obviously a brand-new kind of domain name means that you can’t register.com,. co,. net or any of the basic TLDs you’re utilized to seeing. Now Unstoppable Domains is starting with.crypto. Not a TLD you ‘d consider being a perfect fit for your blog or service but we might see some generic TLDs being used in the future. For now, Unstoppable Domains is catering to crypto lovers. It’s a totally various domain system, indicating you can’t type craylor.crypto into your browser and load it or can you? See these crypto domains are NFT items. You’ve probably seen this term pop up everywhere recently. Non-fungible tokens are units of information on a journal, that is the blockchain and they represent a distinct digital product.
In this case, a domain name. Now I’m not declaring to comprehend all the technical specifics of this new domain system. To be sincere, I still deal with some of the principles of cryptocurrency, and I’m not a specialist in this space. But today we’re not focusing as much on the technical side of NFT domains but more on what it suggests for the future of the web. The most significant bottleneck is that web web browsers Google Chrome, Safari, and Microsoft Edge have not yet carried out support for NFT domains. Unstoppable Domains has an option for this, thanks to Cloudflare including assistance for their domains.