Systems And Methods For Managing Top-level Domain Names Using Consortium Blockchain – FAQ

When sending out cryptocurrencies…Systems And Methods For Managing Top-level Domain Names Using Consortium Blockchain… The concern that often develops is verifying that you have the right address, due to the fact that it is a complicated string of numbers and letters, even doing a copy and paste most likely lead to you diligently confirming that whatever pasted properly, even though it needs to have.

This is where Unstoppable Domains intends to help drive adoption of crypto with their blockchain domains. These domains can not just be utilized as fully functional web pages, with decentralized applications (dApps) integrated, however also as a payment center address where users can receive over 275 different crypto coins and tokens. By giving intricate crypto addresses a human understandable name, Unstoppable Domains intends to be the domain addresses of the future.

 

unstoppable domain is a san francisco-based business that is providing domain extensions that are tied to the blockchain instead of being connected to the dns system specifically you can get a dot crypto which is connected to the ethereum blockchain or you can get a zillow domain extension which is tied to the silica blockchain which is an alternative to ethereum the advantage of using these blockchain based domain name extensions is just that they are decentralized so the dns system is controlled and operated by icann so anything constantly requires approval from that governing body but something like a dot crypto or zillow these are based upon the blockchain and they are simply completely decentralized so there’s no governing body there’s nothing that needs any kind of approval or permission you as the owner own your domain so in this video i wish to discuss to you everything that you need to called a beginner about unstoppable domain names make sure to inspect the links in the description for time stamps and any resources pointed out in this video so let’s start how does domain name registration actually work i believe

people are going to be quite shocked that it’s way more complex and technical than you envisioned so when you go to someplace like namecheap.com or godaddy.com you’re not actually purchasing the domain what you’re doing is you’re releasing the domain through a icann licensed domain register why do i state i can license since you can’t get your domain straight from i can which is once again the nonprofit company that manages the dns system you have to go through an icann certified domain register in order to get a domain name and that’s simply how it works like you’re like why do i need to do that i don’t know why asking me those are just the rules which’s what individuals have been providing for the last couple of decades in order to get a domain name so that’s why you need to pay an annual fee on your domain names due to the fact that you’re not actually buying an owning domain name what you’re doing is leasing their domain so you’re going to namecheap.com to get your.com what they’re doing is then they’re going through the windows registry that handles that domain name extension which is then totally managed and arranged by icann broadly speaking so like when you get it.com.net.org the pc registry for that extension

Is unstoppable domains on Ethereum? Systems And Methods For Managing Top-level Domain Names Using Consortium Blockchain

is a verisign for instance so all these various domain extensions have different computer system registries and the function of the pc registry is just to manage the administrative data for that specific domain nft domain names versus the conventional dns system what’s the difference well the traditional dns system is a centralized system as i alluded to earlier based around icann so you have actually icann you have your domain windows registries then you have your icann accredited domain registrars nfts by contrast are non-fungible tokens non-fungal meaning like you can’t jump in and change it however like what does that specifically mean a non-fungible token is just a piece of information found on a blockchain that is verifiable and represents a distinct digital item in this circumstances our domain dot crypto versus dot zill what’s the distinction with these two so if you leap over to unstoppabledomainnames.com link in the description you’re going to discover that you can’t geta.com.net.org why well you can’t you should already kind of know why since those are handled by verisign which is a domain registry which is handled by icann that belongs to the dns system that’s why you can’t get those types of domain names through unstoppable domain you can just get blockchain based domain right now they only have a dot crypto in dot zo at the time of taping this video the main distinction is that these 2 are connected to various block chains that’s it so you have Systems And Methods For Managing Top-level Domain Names Using Consortium Blockchain

 

your dot crypto which is tied to the ethereum blockchain you have your dot zill which is tied to the silica block durian blockchain is way more developed and you have a little bit more services and functions built around uh at the ethereum blockchain with a dot crypto domain than you make with a dot zill but functionally speaking they are the same individualized crypto addresses that can be established as a payment entrance so this is the main function of unstoppable domain names obviously in time as like we have actually decentralized web host establish over time it will be possible to utilize like a decentralized domain and a decentralized web host to develop your own decentralized site presently it’s not actually possible i mean you can do it but it’s pretty technical uh.

Pros.

One-time purchase of domain.

Streamlines way in which individuals engage with crypto addresses.

Censor resistant domain stored in your wallet.

More performance than standard domains.

Supports 276 crypto assets.

Cons.

Have to spend ETH to claim domain.

Still some question regarding whether Unstoppable Domains will accomplish widespread adoption.

Some domains are still pre-sale only.

What is Unstoppable Domains?

Unstoppable Domains was founded in 2018 by Matthew Gould, the present CEO, who saw a need for it to be simpler for users to communicate with crypto addresses. The objective of Unstoppable Domains is to be like the DNS system that came into place, so users did not need to find out IP addresses in order to get to websites, except for crypto addresses.

In this manner they have actually succeeded greatly, as they have created a domain system that permits users to establish payments for 276 digital properties under a single domain name, while also being able to be utilized as a completely functioning site that can even have actually dApps constructed onto them since the domain is hosted on the blockchain. With no yearly renewal and a single payment costs, Unstoppable Domains is an interesting tool for crypto users.

Is Unstoppable Domains Safe?

Unstoppable Domains is incredibly safe due to the fact that when declared the domains exist under your address on blockchain, implying they are as safe as the blockchain itself.

It is twice as safe since this likewise implies that the domain can not be blocked by anyone besides you, so your website is never ever at risk of being down due to censorship. The site for purchasing the domains is safe as well and can be secured with two-factor authentication.

Just How Much is Unstoppable Domains?

The cost of Unstoppable Domains depends on a 2 primary elements, though it must be noted that purchasing a domain is a one-time cost and needs no annual renewals of any sort.

The first element is the cost of the domain itself, this can vary from $20 USD to well over $1000 USD depending upon the domain you select, as cost is based upon domain type (. crypto is more than.wallet for instance), and the length of the domain name, with much shorter domains costing extra. In addition, there are superior domains that cost tens of thousands.

The next aspect is the gas fees associated with using the Ethereum blockchain to claim your domain, because the domains are kept on the Ethereum blockchain, the transaction to claim them comes in ETH and is not consisted of in your preliminary purchase. The gas costs you will pay will depend upon the existing expense of ETH and the network blockage at the time of the transaction. Overall you can get most likely yourself a cheap.crypto domain and claim it for under $50 overall.

What Are the Best Features of Unstoppable Domains?

There are a couple of features of Unstoppable Domains that stick out. The truth that it is a one-time purchase with no yearly renewal is extremely appealing considering the method traditional domain ownership works, and in addition, the domain is censor resistant, meaning it can not be taken down by anyone other than the owner.

The domains also have more performance than standard domains since they can be used to a payment router, but likewise utilized to create sites with dApps built directly on them because they exist on the blockchain, allowing the use of clever contracts on your site. Systems And Methods For Managing Top-level Domain Names Using Consortium Blockchain

Perhaps the best and most attractive feature of Unstoppable Domains is that is provides you a way to have one address for you to receive 276 different crypto assets, suggesting when you set it up you will only ever need to understand your domain and your payments will be routed to the wallets you set up for each cryptocurrency. It is much easier not just for you, but for anyone who you want to get funds from.

 

Prospective Dealbreakers.

There is only one genuine possible dealbreaker when it concerns utilizing Unstoppable Domains, and that is the expense of declaring your domain with Ethereum.

This may just be a dealbreaker since you do not have any Ethereum at your address and require to purchase some in order to claim your domain, or if for some reason you think it is unreasonable to pay the gas charges. This is a one-time deal cost, and unless you choose to sell/transfer your domain to someone else it will be the extra cost associated with getting your domain.