Cryptocurrency Namecoin – Blockchain Insights

 

This is where Unstoppable Domains aims to assist drive adoption of crypto.Cryptocurrency Namecoin… with their blockchain domains. These domains can not just be utilized as fully functional web pages, with decentralized applications (dApps) built-in, however also as a payment hub address where users can get over 275 different crypto coins and tokens. By offering complicated crypto addresses a human understandable name, Unstoppable Domains intends to be the domain addresses of the future.

 

unstoppable domain names is a san francisco-based business that is offering domain extensions that are tied to the blockchain instead of being tied to the dns system particularly you can get a dot crypto which is tied to the ethereum blockchain or you can get a zillow domain name 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 simply that they are decentralized so the dns system is managed and run by icann so anything always needs approval from that governing body but something like a dot crypto or zillow these are based upon the blockchain and they are simply entirely decentralized so there’s no governing body there’s absolutely nothing that requires any type of approval or consent you as the owner own your domain so in this video i wish to explain to you whatever that you need to referred to as a beginner about unstoppable domain names ensure to check 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 really work i think

individuals are going to be quite surprised that it’s way more complex and technical than you imagined so when you go to someplace like namecheap.com or godaddy.com you’re not in fact buying the domain what you’re doing is you’re releasing the domain through a icann accredited domain name register why do i state i can accredit since you can’t get your domain names straight from i can which is once again the not-for-profit organization that manages the dns system you have to go through an icann licensed domain register in order to get a domain and that’s just how it works like you’re like why do i have to do that i don’t know why asking me those are simply the guidelines and that’s what individuals have actually been providing for the last couple of decades in order to get a domain so that’s why you need to pay a yearly charge on your domain since you’re not really buying an owning domain what you’re doing is leasing their domain name 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 manages that domain extension which is then completely handled and organized by icann broadly speaking so like when you get it.com.net.org the registry for that extension

Is unstoppable domains on Ethereum? Cryptocurrency Namecoin

is a verisign for example so all these various domain extensions have various computer system registries and the function of the computer system registry is just to handle the administrative information for that particular domain nft domain versus the traditional dns system what’s the difference well the traditional dns system is a centralized system as i mentioned earlier based around icann so you have icann you have your domain windows registries then you have your icann licensed domain name registrars nfts by contrast are non-fungible tokens non-fungal meaning like you can’t jump in and alter it however like what does that particularly suggest a non-fungible token is simply a piece of information discovered on a blockchain that is verifiable and represents a distinct digital product in this instance our domain dot crypto versus dot zill what’s the difference with these 2 so if you jump 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 ought to currently kind of know why due to the fact that those are handled by verisign which is a domain name pc registry which is handled by icann that belongs to the dns system that’s why you can’t get those kinds of domain through unstoppable domain you can only get blockchain based domain right now they just have a dot crypto in dot zo at the time of taping this video the main distinction is that these two are connected to different block chains that’s it so you have Cryptocurrency Namecoin

 

your dot crypto which is connected to the ethereum blockchain you have your dot zill which is connected to the silica block durian blockchain is way more industrialized and you have a bit more services and functions developed around uh at the ethereum blockchain with a dot crypto domain name than you do with a dot zill however functionally speaking they are the same customized crypto addresses that can be established as a payment entrance so this is the main feature of unstoppable domain names certainly gradually as like we have decentralized web host establish gradually it will be possible to utilize like a decentralized domain name and a decentralized web host to produce your own decentralized site currently it’s not actually possible i indicate you can do it but it’s quite technical uh.

Pros.

One-time purchase of domain.

Simplifies method which people connect with crypto addresses.

Censor resistant domain saved in your wallet.

More functionality than traditional domains.

Supports 276 crypto properties.

Cons.

Need to invest ETH to claim domain.

Still some question as to whether Unstoppable Domains will attain widespread adoption.

Some domains are still pre-sale only.

What is Unstoppable Domains?

Unstoppable Domains was founded in 2018 by Matthew Gould, the current CEO, who saw a need for it to be easier for users to connect with crypto addresses. The objective of Unstoppable Domains is to be like the DNS system that entered into location, so users did not need to learn IP addresses in order to get to websites, except for crypto addresses.

In this way they have actually prospered greatly, as they have produced a domain system that allows users to set up payments for 276 digital properties under a single domain name, while likewise being able to be used as a completely functioning site that can even have dApps developed 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, indicating they are as safe and secure as the blockchain itself.

It is doubly safe since this likewise means that the domain can not be blocked by anyone aside from you, so your website is never ever at risk of being down due to censorship. The website for buying 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 needs to be kept in mind that buying a domain is a one-time cost and requires no yearly renewals of any sort.

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

The next factor is the gas fees related to using the Ethereum blockchain to claim your domain, because the domains are saved on the Ethereum blockchain, the transaction to claim them can be found in ETH and is not consisted of in your preliminary purchase. The gas fees you will pay will depend upon the current expense of ETH and the network blockage at the time of the deal. In general you can get likely yourself a cheap.crypto domain and claim it for under $50 overall.

What Are the very best Features of Unstoppable Domains?

There are a couple of features of Unstoppable Domains that stand out. The reality that it is a one-time purchase without any annual renewal is exceptionally appealing thinking about the method conventional domain ownership works, and in addition, the domain is censor resistant, indicating it can not be removed by anyone aside from the owner.

The domains likewise have more performance than standard domains since they can be used to a payment router, however likewise utilized to produce sites with dApps built straight on them because they exist on the blockchain, allowing the use of clever contracts on your website. Cryptocurrency Namecoin

Maybe the very best and most appealing function of Unstoppable Domains is that is provides you a method to have one address for you to receive 276 different crypto assets, implying once 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 anybody who you want to get funds from.

 

Prospective Dealbreakers.

There is only one genuine prospective dealbreaker when it pertains to utilizing Unstoppable Domains, which is the expense of declaring your domain with Ethereum.

This may just be a dealbreaker due to the fact that you do not have any Ethereum at your address and require to purchase some in order to declare your domain, or if for some reason you think it is unreasonable to pay the gas charges. However, this is a one-time transaction fee, and unless you decide to sell/transfer your domain to someone else it will be the additional charge related to getting your domain.