Namecoin Hardware Wallet – Blockchain Insights

 

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

 

unstoppable domain is a san francisco-based company that is offering domain extensions that are connected 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 connected to the silica blockchain which is an alternative to ethereum the benefit of using these blockchain based domain extensions is just 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 on the blockchain and they are just entirely decentralized so there’s no governing body there’s absolutely nothing that needs any kind of approval or consent you as the owner own your domain name so in this video i want to discuss to you everything that you require to know as a novice about unstoppable domain names make sure to check the links in the description for time stamps and any resources discussed in this video so let’s start how does domain registration really work i believe

individuals are going to be rather surprised that it’s method more technical and complicated than you imagined so when you go to someplace like namecheap.com or godaddy.com you’re not really purchasing the domain name what you’re doing is you’re launching the domain name through a icann licensed domain name register why do i state i can certify since you can’t get your domain 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 certified domain name register in order to get a domain which’s simply how it works like you resemble why do i need to do that i don’t understand why asking me those are simply the guidelines which’s what people have been providing for the last few years in order to get a domain name so that’s why you need to pay a yearly fee on your domain because you’re not actually buying an owning domain what you’re doing is renting 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 registry that handles that domain name extension which is then absolutely managed and organized by icann broadly speaking so like when you get it.com.net.org the pc registry for that extension

Is unstoppable domains on Ethereum? Namecoin Hardware Wallet

is a verisign for example so all these various domain name extensions have various pc registries and the function of the computer registry is just to handle the administrative information for that particular domain name nft domain versus the standard dns system what’s the distinction well the traditional dns system is a central system as i alluded to earlier based around icann so you have icann you have your domain pc 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 but like what does that specifically suggest a non-fungible token is just a piece of information found on a blockchain that is verifiable and represents an unique digital item in this instance our domain dot crypto versus dot zill what’s the distinction 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 need to already sort of know why because those are managed by verisign which is a domain name computer registry which is managed by icann that’s part of the dns system that’s why you can’t get those types of domain through unstoppable domain names 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 primary difference is that these two are connected to different block chains that’s it so you have Namecoin Hardware Wallet

 

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 constructed around uh at the ethereum blockchain with a dot crypto domain name than you finish with a dot zill however functionally speaking they are the same individualized crypto addresses that can be set up as a payment gateway so this is the primary feature of unstoppable domain clearly over time as like we have actually decentralized webhosting develop in time it will be possible to use like a decentralized domain name and a decentralized webhosting to produce your own decentralized site currently it’s not truly possible i mean you can do it however it’s quite technical uh.

Pros.

One-time purchase of domain.

Streamlines method which individuals connect with crypto addresses.

Censor resistant domain saved in your wallet.

More performance than standard domains.

Supports 276 crypto properties.

Cons.

Need to invest ETH to claim domain.

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

Some domains are still pre-sale just.

What is Unstoppable Domains?

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

In this way they have actually succeeded greatly, as they have developed a domain system that enables users to establish payments for 276 digital possessions under a single domain, while also being able to be utilized as a totally functioning site that can even have actually dApps constructed onto them due to the fact that the domain is hosted on the blockchain. With no annual renewal and a single payment costs, Unstoppable Domains is an intriguing 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 secure as the blockchain itself.

It is doubly safe since this also means that the domain can not be obstructed by anybody besides you, so your website is never ever at risk of being down due to censorship. The website for buying the domains is safe also and can be secured with two-factor authentication.

How Much is Unstoppable Domains?

The expense of Unstoppable Domains depends on a two main factors, though it should be noted that buying a domain is a one-time expense and needs no annual renewals of any sort.

The first aspect is the expense of the domain itself, this can range from $20 USD to well over $1000 USD depending on the domain you pick, as cost is based upon domain type (. crypto is more than.wallet for example), and the length of the domain name, with shorter domains costing extra. In addition, there are premium domains that cost 10s of thousands.

The next aspect is the gas costs associated with utilizing the Ethereum blockchain to declare your domain, since the domains are stored on the Ethereum blockchain, the deal to claim them is available in ETH and is not consisted of in your preliminary purchase. The gas fees you will pay will depend on the existing cost of ETH and the network congestion at the time of the transaction. Overall you can get most likely yourself a cheap.crypto domain and claim it for under $50 total.

What Are the Best Functions of Unstoppable Domains?

There are a couple of features of Unstoppable Domains that stick out. The fact that it is a one-time purchase with no yearly renewal is very enticing considering the method conventional domain ownership works, and in addition, the domain is censor resistant, implying it can not be removed by anyone besides the owner.

The domains also have more functionality than standard domains because they can be used to a payment router, however also used to produce websites with dApps developed straight on them due to the fact that they exist on the blockchain, allowing the use of smart contracts on your site. Namecoin Hardware Wallet

Perhaps the very best and most appealing function of Unstoppable Domains is that is offers you a method to have one address for you to get 276 different crypto assets, meaning as soon as you set it up you will only ever need to understand your domain and your payments will be routed to the wallets you established for each cryptocurrency. It is easier not only for you, but for anybody who you want to receive funds from.

 

Potential Dealbreakers.

There is only one real prospective dealbreaker when it comes to using Unstoppable Domains, and that is the expense of claiming your domain with Ethereum.

This may only be a dealbreaker because you do not have any Ethereum at your address and need to buy some in order to claim your domain, or if for some reason you think it is unreasonable to pay the gas fees. This is a one-time deal fee, and unless you decide to sell/transfer your domain to somebody else it will be the extra fee associated with getting your domain.