Bitcoin Mining Domains | Easy Crypto

Unstoppable domain is a san francisco-based company…Bitcoin Mining Domains… that is supplying domain name 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 connected to the silica blockchain which is an alternative to ethereum the advantage of using these blockchain based domain name extensions is just that they are decentralized so the dns system is controlled and operated by icann so anything always requires approval from that governing body however something like a dot crypto or zillow these are based upon the blockchain and they are just completely decentralized so there’s no governing body there’s absolutely nothing that requires any kind of approval or permission you as the owner own your domain name so in this video i want to describe to you whatever that you need to know as a novice about unstoppable domain ensure to examine the links in the description for time stamps and any resources pointed out in this video so let’s begin how does domain registration really work i believe

people are going to be rather shocked that it’s way more complex and technical than you envisioned so when you go to somewhere like namecheap.com or godaddy.com you’re not actually purchasing the domain name what you’re doing is you’re releasing the domain name through a icann certified domain name register why do i state i can certify because you can’t get your domain names directly from i can which is again the nonprofit company that handles the dns system you have to go through an icann accredited domain name register in order to get a domain which’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 just the guidelines which’s what individuals have actually been providing for the last couple of years in order to get a domain so that’s why you require to pay a yearly charge on your domain names since you’re not actually buying an owning domain 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 registry that manages that domain name 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? Bitcoin Mining Domains

is a verisign for example so all these different domain name extensions have various pc registries and the role of the pc registry is simply to manage the administrative information for that specific domain nft domain versus the standard dns system what’s the distinction well the traditional dns system is a centralized system as i mentioned earlier based around icann so you have actually icann you have your domain pc registries then you have your icann certified domain name registrars nfts by contrast are non-fungible tokens non-fungal significance like you can’t jump in and alter it but like what does that specifically imply a non-fungible token is just 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 2 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 should already type of know why since those are handled by verisign which is a domain name registry which is managed by icann that becomes part of the dns system that’s why you can’t get those kinds of domain names through unstoppable domain names you can only get blockchain based domain names today they only 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 Mining Domains

 

your dot crypto which is tied to the ethereum blockchain you have your dot zill which is tied to the silica block durian blockchain is way more industrialized and you have a bit more functions and services constructed around uh at the ethereum blockchain with a dot crypto domain name than you make 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 primary feature of unstoppable domain names undoubtedly over time as like we have decentralized webhosting develop with time it will be possible to utilize like a decentralized domain name and a decentralized web host to create your own decentralized site presently it’s not really possible i suggest you can do it however it’s quite technical uh.

Pros.

One-time purchase of domain.

Simplifies way in which individuals interact with crypto addresses.

Censor resistant domain kept in your wallet.

More performance than traditional domains.

Supports 276 crypto assets.

Cons.

Have to spend ETH to claim domain.

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

Some domains are still pre-sale only.

What is Unstoppable Domains?

Unstoppable Domains was founded in 2018 by Matthew Gould, the existing CEO, who saw a requirement for it to be much easier for users to interact with crypto addresses. The goal of Unstoppable Domains is to be like the DNS system that entered into place, so users did not need to learn IP addresses in order to get to sites, except for crypto addresses.

In this manner they have actually succeeded significantly, as they have actually created a domain system that allows users to set up payments for 276 digital possessions under a single domain name, while also being able to be used as a fully operating website that can even have dApps developed onto them due to the fact that the domain is hosted on the blockchain. With no annual renewal and a single payment fees, Unstoppable Domains is an intriguing tool for crypto users.

Is Unstoppable Domains Safe?

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

It is two times as safe because this likewise means that the domain can not be obstructed by anyone besides you, so your website is never ever at risk of being down due to censorship. The site for acquiring 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 upon a 2 main aspects, though it should be noted that acquiring a domain is a one-time expense and requires no yearly renewals of any sort.

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

The next factor is the gas costs associated with utilizing the Ethereum blockchain to claim your domain, because the domains are kept on the Ethereum blockchain, the transaction to claim them is available in ETH and is not included in your initial purchase. The gas charges you will pay will depend on the existing cost of ETH and the network congestion 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 Best Features of Unstoppable Domains?

There are a couple of functions of Unstoppable Domains that stand apart. The truth that it is a one-time purchase with no annual renewal is incredibly enticing considering the way conventional domain ownership works, and in addition, the domain is censor resistant, suggesting it can not be taken down by anyone besides the owner.

The domains also have more performance than standard domains since they can be utilized to a payment router, but likewise used to create sites with dApps built directly on them because they exist on the blockchain, allowing the use of clever contracts on your website. Bitcoin Mining Domains

Perhaps the very best and most enticing feature of Unstoppable Domains is that is offers you a method to have one address for you to receive 276 different crypto possessions, suggesting when you set it up you will just ever need to know your domain and your payments will be routed to the wallets you established for each cryptocurrency. It is simpler not only for you, but for anybody who you wish to receive funds from.

 

Possible Dealbreakers.

There is only one real potential dealbreaker when it concerns utilizing Unstoppable Domains, and that is the expense of declaring your domain with Ethereum.

This might only be a dealbreaker because 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 costs. This is a one-time deal cost, and unless you choose to sell/transfer your domain to someone else it will be the extra charge associated with getting your domain.