Bitcoin Dominance Index | Easy Crypto

Unstoppable domain names is a san francisco-based company…Bitcoin Dominance Index… that is supplying domain name extensions that are tied to the blockchain instead of being tied 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 benefit 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 however something like a dot crypto or zillow these are based upon the blockchain and they are just totally decentralized so there’s no governing body there’s absolutely nothing that requires any type of approval or permission you as the owner own your domain so in this video i wish to describe to you everything that you need to referred to as a beginner about unstoppable domain make sure to inspect the links in the description for time stamps and any resources discussed in this video so let’s begin how does domain registration actually work i believe

people are going to be rather stunned that it’s method more complicated and technical than you imagined so when you go to somewhere like namecheap.com or godaddy.com you’re not really purchasing the domain name what you’re doing is you’re releasing the domain name through a icann accredited domain name register why do i say i can accredit because you can’t get your domain names straight from i can which is once again the nonprofit company that manages the dns system you need to go through an icann accredited domain name register in order to get a domain which’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 just the rules and that’s what individuals have actually been doing for the last couple of years in order to get a domain so that’s why you need to pay a yearly charge on your domain names because you’re not really buying an owning domain name what you’re doing is renting their domain 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 manages that domain name extension which is then absolutely handled and arranged by icann broadly speaking so like when you get it.com.net.org the registry for that extension

Is unstoppable domains on Ethereum? Bitcoin Dominance Index

is a verisign for instance so all these different domain extensions have various registries and the role of the pc registry is just to handle the administrative data for that particular domain name nft domain names versus the standard dns system what’s the distinction well the standard dns system is a centralized system as i alluded to earlier based around icann so you have icann you have your domain registries then you have your icann accredited domain name registrars nfts by contrast are non-fungible tokens non-fungal significance like you can’t jump in and change it but like what does that specifically mean a non-fungible token is simply a piece of information found on a blockchain that is verifiable and represents an unique 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 discover that you can’t geta.com.net.org why well you can’t you should already sort of understand why because those are handled by verisign which is a domain 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 names you can only get blockchain based domain names today they just have a dot crypto in dot zo at the time of tape-recording this video the primary difference is that these two are tied to different block chains that’s it so you have Bitcoin Dominance Index

 

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 features and services built around uh at the ethereum blockchain with a dot crypto domain than you make with a dot zill however functionally speaking they are the same personalized crypto addresses that can be established as a payment gateway so this is the main feature of unstoppable domain undoubtedly with time as like we have actually decentralized web host develop with time it will be possible to utilize like a decentralized domain and a decentralized webhosting to develop your own decentralized website presently it’s not truly possible i indicate you can do it but it’s pretty technical uh.

Pros.

One-time purchase of domain.

Streamlines method which individuals interact with crypto addresses.

Censor resistant domain saved in your wallet.

More functionality than standard domains.

Supports 276 crypto assets.

Cons.

Need to spend ETH to claim domain.

Still some concern as to whether Unstoppable Domains will accomplish 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 much easier for users to connect 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 actually succeeded considerably, as they have actually developed a domain system that permits users to establish payments for 276 digital possessions under a single domain, while likewise having the ability to be used as a totally working site that can even have actually dApps constructed onto them since the domain is hosted on the blockchain. With a single payment and no yearly renewal costs, Unstoppable Domains is an interesting tool for crypto users.

Is Unstoppable Domains Safe?

Unstoppable Domains is exceptionally safe since as soon as claimed the domains exist under your address on blockchain, indicating they are as safe and secure as the blockchain itself.

It is two times as safe because this also implies that the domain can not be obstructed by anybody other than you, so your website is never at risk of being down due to censorship. The site for acquiring the domains is safe as well and can be protected with two-factor authentication.

How Much is Unstoppable Domains?

The cost of Unstoppable Domains depends on a 2 primary elements, though it must be kept in mind that buying a domain is a one-time expense and needs 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 upon the domain you select, as expense is based upon 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 costs related to using the Ethereum blockchain to claim your domain, since the domains are saved on the Ethereum blockchain, the transaction to claim them comes in ETH and is not included in your initial purchase. The gas costs you will pay will depend on the current expense of ETH and the network blockage at the time of the deal. Overall you can get most likely yourself a cheap.crypto domain and claim it for under $50 total.

What Are the very best Functions of Unstoppable Domains?

There are a few features of Unstoppable Domains that stand apart. The fact that it is a one-time purchase with no yearly renewal is very appealing thinking about the way standard domain ownership works, and in addition, the domain is censor resistant, indicating it can not be removed by anybody aside from the owner.

The domains likewise have more functionality than traditional domains due to the fact that they can be utilized to a payment router, however also used to produce websites with dApps built directly on them because they exist on the blockchain, allowing the use of clever agreements on your website. Bitcoin Dominance Index

Maybe the very best and most enticing feature of Unstoppable Domains is that is provides you a method to have one address for you to get 276 various crypto properties, implying 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 simpler not just for you, but for anyone who you want to receive funds from.

 

Prospective Dealbreakers.

There is only one real possible dealbreaker when it comes to utilizing Unstoppable Domains, which 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 buy some in order to declare your domain, or if for some reason you believe it is unreasonable to pay the gas fees. This is a one-time deal charge, and unless you choose to sell/transfer your domain to someone else it will be the additional fee associated with getting your domain.