Are Most Domainers Selling Their Domains To Get Into Cryptocurrency | Easy Crypto

Unstoppable domain names is a san francisco-based company…Are Most Domainers Selling Their Domains To Get Into Cryptocurrency… that is supplying domain name extensions that are tied to the blockchain instead of being connected to the dns system specifically 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 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 constantly requires approval from that governing body however something like a dot crypto or zillow these are based on 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 name so in this video i wish to explain to you everything that you need to called a newbie about unstoppable domain names ensure to examine 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 in fact work i think

people are going to be rather shocked that it’s way more complicated and technical than you pictured so when you go to someplace like namecheap.com or godaddy.com you’re not really purchasing the domain what you’re doing is you’re releasing the domain name through a icann licensed domain name register why do i state i can certify due to the fact that you can’t get your domain directly from i can which is again the not-for-profit company that manages the dns system you need 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 do not know why asking me those are simply the guidelines which’s what individuals have been providing for the last few years in order to get a domain so that’s why you need to pay a yearly fee on your domain names because you’re not in fact purchasing an owning domain name 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 computer registry that handles that domain extension which is then completely managed 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? Are Most Domainers Selling Their Domains To Get Into Cryptocurrency

is a verisign for example so all these various domain extensions have various registries and the function of the registry is just to handle the administrative information for that particular domain nft domain versus the conventional dns system what’s the difference well the standard 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 certified 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 mean a non-fungible token is just a piece of data found on a blockchain that is verifiable and represents a special digital product in this instance our domain dot crypto versus dot zill what’s the distinction with these two 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 already type of understand why due to the fact that those are handled by verisign which is a domain registry which is managed by icann that becomes part of the dns system that’s why you can’t get those types of domain names through unstoppable domain names you can only get blockchain based domain names right now they only have a dot crypto in dot zo at the time of recording this video the main difference is that these two are tied to various block chains that’s it so you have Are Most Domainers Selling Their Domains To Get Into Cryptocurrency

 

your dot crypto which is tied 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 features and services 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 set up as a payment gateway so this is the main feature of unstoppable domain obviously gradually as like we have actually decentralized webhosting develop with time it will be possible to use like a decentralized domain name and a decentralized web host to create your own decentralized website currently it’s not really possible i mean you can do it however it’s quite technical uh.

Pros.

One-time purchase of domain.

Streamlines way in which people communicate with crypto addresses.

Censor resistant domain kept in your wallet.

More performance than conventional domains.

Supports 276 crypto properties.

Cons.

Have to spend ETH to claim domain.

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

Some domains are still pre-sale just.

What is Unstoppable Domains?

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

In this way they have actually been successful greatly, as they have produced a domain system that permits users to establish payments for 276 digital possessions under a single domain, while also having the ability to be used as a completely functioning website that can even have dApps built onto them since the domain is hosted on the blockchain. With a single payment and no yearly renewal charges, Unstoppable Domains is an interesting tool for crypto users.

Is Unstoppable Domains Safe?

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

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

Just How Much is Unstoppable Domains?

The cost of Unstoppable Domains depends on a two primary aspects, though it needs to be kept in mind that purchasing a domain is a one-time cost and needs no yearly renewals of any sort.

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

The next element is the gas charges associated with utilizing the Ethereum blockchain to declare your domain, due to the fact that the domains are kept on the Ethereum blockchain, the deal to claim them can be found in ETH and is not included in your initial purchase. The gas fees you will pay will depend on the current expense of ETH and the network blockage at the time of the transaction. Overall you can get likely yourself a cheap.crypto domain and claim it for under $50 total.

What Are the very best Features of Unstoppable Domains?

There are a couple of features of Unstoppable Domains that stick out. The fact that it is a one-time purchase without any annual renewal is exceptionally appealing considering the method standard domain ownership works, and in addition, the domain is censor resistant, suggesting it can not be taken down by anybody aside from the owner.

The domains likewise have more functionality than conventional domains since they can be utilized to a payment router, but also used to create websites with dApps built straight on them since they exist on the blockchain, allowing the use of smart contracts on your site. Are Most Domainers Selling Their Domains To Get Into Cryptocurrency

Perhaps the very best and most attractive feature of Unstoppable Domains is that is offers you a method to have one address for you to receive 276 various crypto properties, indicating when you set it up you will just 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 get funds from.

 

Potential Dealbreakers.

There is only one real possible dealbreaker when it concerns utilizing Unstoppable Domains, and that is the cost of claiming your domain with Ethereum.

This may just be a dealbreaker since you do not have any Ethereum at your address and need to purchase some in order to declare your domain, or if for some reason you believe it is unreasonable to pay the gas charges. However, this is a one-time transaction cost, and unless you choose to sell/transfer your domain to another person it will be the extra cost connected with getting your domain.