You’re renting it from the domain windows registry and they have full control over what occurs with your domain name. You might have noticed, I said standard 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 builds domain names on blockchains and this is various than a standard domain since the domain name is stored by you, the user inside of your cryptocurrency wallet.
They need to go and get your private key, which is on your gadget, like your phone or your computer or whatever. – Right now, when you go to buy 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 pricing from the domain computer registry. For.com domains that’s Verisign. Verisign holds the secrets to every single.com domain. Which suggests they have the power to seize a domain at any offered time. Now, this is technically exceptionally uncommon, however it is possible. And it brings up an increasing issue with our web, control. Brad calls this the class structure of a domain system. – We’re a computer registry comparable to like a Verisign. The class structure is very different due to the fact that as soon as we have actually offered you a domain there’s absolutely nothing that we can do. If it’s a.com domain you’re trusting the computer system registry not to change costs or take the domain far from you in the future. Our domain are one-time costs, so you never have to fret about it. Once you purchase a domain name it’s more like purchasing a football from us. Like there’s absolutely nothing we can do. We can’t upgrade or edit or take the football away from you as soon as you have it. In the conventional world, there’s a lot of these resellers. Therefore 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 buy them. You can go to MyEtherWallet, for instance, and you can purchase them. So, yeah, I believe that’s something that’s going to construct. In terms of us getting going, it was a little much easier for us to sort of manage the whole user experience and construct all these unique tools.
– Of course a brand-new type of domain name indicates that you can’t register.com,. For now, Unstoppable Domains is catering to crypto lovers. It’s a completely different domain name system, indicating you can’t type craylor.crypto into your 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 deal with a few of the concepts of cryptocurrency, and I’m not a specialist in this area. However 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 most significant bottleneck is that web browsers Google Chrome, Safari, and Microsoft Edge have not yet carried out support for NFT domains. Unstoppable Domains has a service for this, thanks to Cloudflare including assistance for their domains.