Of a decentralized web…Amazon Buys Cryptocurrency Domain Names… do I in fact own my domain name outright?” Or, “Are there specifications attached to my registration?” The answer is no, you don’t own your domain name outright, however policies and regulations usually safeguard the domain from being drawn from you. But at the end of the day,|The response is no, you do not own your domain name outright, however policies and regulations generally safeguard the domain from being taken from you. At the end of the day,}
it is entirely possible for your domain to be taken. You’re renting it from the domain pc registry and they have complete control over what occurs with your domain name. I’ve talked about this approved monopoly system prior to which you can learn more about in my “Domain frequently asked question” video however you do not own your domain. It’s actually difficult to own a conventional domain. You might have observed, I said standard domain due to the fact that a company’s dealing with a new kind of domain name that you can own outright. I had the chance to interview 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 just believed this was really, really cool what Unstoppable Domains was doing. – So Unstoppable Domains develops domain on blockchains and this is different than a conventional domain because the domain is stored by you, the user within your cryptocurrency wallet. So it’s kept within your wallet, similar to a cryptocurrency would be. And what this does is it implies that no one else can move the domain around, take it away from you, make updates to the domain, anything. Unstoppable Domains can’t do it, nobody can do it.
They need to go and get your private key, which is on your device, like your phone or your computer system or whatever. – Today, when you go to buy a domain name you do not in fact own it. You’re renting it from a domain registrar like Namecheap and they’re leasing it at wholesale rates from the domain 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 name at any given time. Now, this is technically exceptionally uncommon, but it is possible. And it brings up a rising issue with our web, control. Brad calls this the power structure of a domain system. – We’re a windows registry similar to like a Verisign. The power structure is extremely different because once we’ve sold you a domain there’s nothing that we can do. If it’s a.com domain you’re relying on the registry not to change rates or take the domain far from you in the future. Our domain are one-time charges, so you never have to fret about it. As soon as you buy a domain name it’s more like buying a football from us. Like there’s absolutely nothing we can do. We can’t modify or upgrade or take the football far from you once 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 primarily selling our own domains at unstoppabledomains.com right now. However there are a number of others that you can buy them. You can go to MyEtherWallet, for instance, and you can buy them. Yeah, I think that’s something that’s going to construct. In regards to us beginning, it was a little much easier for us to kind of handle the entire user experience and build all these unique tools.
However if you were to like, you understand envision what things are going to resemble in five to 10 years. Yeah, there ought to be great deals of various sellers and resellers and things like that. – Naturally a new type of domain name indicates that you can’t register.com,. co,. net or any of the basic TLDs you’re used to seeing. Now Unstoppable Domains is starting with.crypto. Not a TLD you ‘d think of as being an ideal fit for your blog or business but we might see some generic TLDs being provided in the future. For now, Unstoppable Domains is accommodating crypto lovers. It’s a completely different domain system, suggesting you can’t type craylor.crypto into your internet browser and load it or can you? See these crypto domains are NFT products. You’ve probably seen this term appear all over recently. Non-fungible tokens are systems of data on a ledger, that is the blockchain and they represent a special digital product.
In this case, a domain. Now I’m not claiming to comprehend all the technical specifics of this new domain name system. To be truthful, I still battle with a few of the concepts of cryptocurrency, and I’m not a specialist in this area. Today we’re not focusing as much on the technical side of NFT domains however more on what it means for the future of the web. The biggest bottleneck is that web browsers Google Chrome, Safari, and Microsoft Edge have actually not yet carried out assistance for NFT domains. Unstoppable Domains has a solution for this, thanks to Cloudflare adding assistance for their domains.