Bitcoin Dominance Bull Run | Easy Crypto

Unstoppable domain is a san francisco-based company…Bitcoin Dominance Bull Run… that is providing 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 connected 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 always needs approval from that governing body but 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 want to explain to you whatever that you need to called a newbie about unstoppable domain make certain to examine the links in the description for time stamps and any resources mentioned in this video so let’s start how does domain name registration really work i believe

people are going to be rather surprised that it’s way more technical and complex than you pictured so when you go to someplace like namecheap.com or godaddy.com you’re not actually purchasing the domain name what you’re doing is you’re launching the domain name through a icann accredited domain name register why do i say i can license since you can’t get your domain straight from i can which is again the not-for-profit organization that manages the dns system you need to go through an icann licensed domain name register in order to get a domain name and that’s simply 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 rules which’s what individuals have been doing for the last couple of years 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 in fact purchasing 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 pc registry that handles that domain extension which is then completely handled and organized by icann broadly speaking so like when you get it.com.net.org the computer registry for that extension

Is unstoppable domains on Ethereum? Bitcoin Dominance Bull Run

is a verisign for example so all these various domain name extensions have various computer registries and the function of the computer registry is just to manage the administrative data for that specific domain name nft domain versus the traditional dns system what’s the distinction well the standard dns system is a centralized system as i mentioned earlier based around icann so you have icann you have your domain computer registries then you have your icann licensed 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 suggest a non-fungible token is simply a piece of data 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 distinction with these two so if you leap over to unstoppabledomainnames.com link in the description you’re going to learn that you can’t geta.com.net.org why well you can’t you must currently kind of understand why due to the fact that those are managed by verisign which is a domain computer registry which is managed 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 tape-recording this video the primary difference is that these 2 are tied to different block chains that’s it so you have Bitcoin Dominance Bull Run

 

your dot crypto which is connected 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 features built around uh at the ethereum blockchain with a dot crypto domain name than you make with a dot zill but functionally speaking they are the same tailored crypto addresses that can be established as a payment entrance so this is the main function of unstoppable domain undoubtedly over time as like we have actually decentralized web host develop gradually it will be possible to utilize like a decentralized domain and a decentralized webhosting to create your own decentralized site presently it’s not actually possible i imply you can do it however it’s pretty technical uh.

Pros.

One-time purchase of domain.

Streamlines way in which individuals connect with crypto addresses.

Censor resistant domain kept in your wallet.

More functionality than traditional domains.

Supports 276 crypto possessions.

Cons.

Need to spend ETH to claim domain.

Still some concern regarding whether Unstoppable Domains will attain prevalent 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 requirement for it to be easier for users to interact with crypto addresses. The objective of Unstoppable Domains is to be like the DNS system that entered 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 prospered significantly, as they have actually created a domain system that permits users to set up payments for 276 digital possessions under a single domain, while also having the ability to be utilized as a fully operating site that can even have dApps built onto them because the domain is hosted on the blockchain. With no yearly renewal and a single payment fees, Unstoppable Domains is an appealing tool for crypto users.

Is Unstoppable Domains Safe?

Unstoppable Domains is extremely safe due to the fact that as soon as claimed the domains exist under your address on blockchain, suggesting they are as safe as the blockchain itself.

It is twice as safe because this also suggests that the domain can not be obstructed by anyone aside from you, so your site is never at risk of being down due to censorship. The site for buying the domains is safe as well and can be secured with two-factor authentication.

How Much is Unstoppable Domains?

The expense of Unstoppable Domains depends on a two primary aspects, though it ought to be noted that buying a domain is a one-time cost and requires no yearly renewals of any sort.

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

The next aspect is the gas costs associated with using the Ethereum blockchain to declare your domain, due to the fact that the domains are saved on the Ethereum blockchain, the deal to claim them comes in ETH and is not included in your initial purchase. The gas fees you will pay will depend upon the existing 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 few features of Unstoppable Domains that stand out. The reality that it is a one-time purchase without any yearly renewal is very enticing considering the way traditional domain ownership works, and in addition, the domain is censor resistant, implying it can not be taken down by anybody other than the owner.

The domains also have more functionality than conventional domains since they can be used to a payment router, however also utilized to produce sites with dApps built directly on them because they exist on the blockchain, allowing the use of wise agreements on your site. Bitcoin Dominance Bull Run

Possibly the best and most appealing function of Unstoppable Domains is that is supplies you a way to have one address for you to get 276 various crypto assets, suggesting once you set it up you will only ever need to know your domain and your payments will be routed to the wallets you established for each cryptocurrency. It is much easier not only for you, but for anyone who you wish to get funds from.

 

Potential Dealbreakers.

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

This might only be a dealbreaker due to the fact that you do not have any Ethereum at your address and need to purchase 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 transaction fee, and unless you choose to sell/transfer your domain to someone else it will be the extra charge associated with getting your domain.