How Many Types Of Cryptocurrency In The World | Easy Crypto

Unstoppable domain is a san francisco-based company…How Many Types Of Cryptocurrency In The World… that is supplying domain extensions that are connected 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 connected to the silica blockchain which is an alternative to ethereum the advantage of using these blockchain based domain extensions is just that they are decentralized so the dns system is controlled 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 just entirely decentralized so there’s no governing body there’s nothing that needs any type of approval or approval you as the owner own your domain so in this video i wish to explain to you whatever that you need to know as a novice about unstoppable domain ensure to check the links in the description for time stamps and any resources pointed out in this video so let’s begin how does domain name registration in fact work i think

people are going to be quite shocked that it’s method more complex and technical than you imagined so when you go to somewhere like namecheap.com or godaddy.com you’re not actually buying the domain what you’re doing is you’re releasing the domain through a icann certified domain register why do i state i can license since you can’t get your domain names directly from i can which is once again the not-for-profit organization that handles the dns system you have to go through an icann accredited domain register in order to get a domain name and that’s just how it works like you resemble 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 been providing for the last couple of years in order to get a domain so that’s why you require to pay an annual cost on your domain due to the fact that you’re not in fact purchasing 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 handles that domain extension which is then completely handled and arranged by icann broadly speaking so like when you get it.com.net.org the pc registry for that extension

Is unstoppable domains on Ethereum? How Many Types Of Cryptocurrency In The World

is a verisign for instance so all these various domain name extensions have various pc registries and the function of the registry is simply to handle the administrative information for that particular domain nft domain names versus the conventional dns system what’s the distinction well the conventional dns system is a centralized system as i mentioned earlier based around icann so you have actually icann you have your domain computer system 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 change it but like what does that particularly mean a non-fungible token is just a piece of information 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 difference with these 2 so if you jump 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 ought to currently sort of understand why due to the fact that those are managed by verisign which is a domain computer registry which is handled by icann that becomes part of the dns system that’s why you can’t get those types of domain through unstoppable domain 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 How Many Types Of Cryptocurrency In The World

 

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 industrialized and you have a bit more functions and services developed 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 undoubtedly over time as like we have actually decentralized web host establish with time it will be possible to utilize like a decentralized domain name and a decentralized web host to develop your own decentralized website currently it’s not actually possible i suggest 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 stored in your wallet.

More functionality than traditional domains.

Supports 276 crypto possessions.

Cons.

Need to invest ETH to claim domain.

Still some question as to whether Unstoppable Domains will attain extensive adoption.

Some domains are still pre-sale just.

What is Unstoppable Domains?

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

In this way they have succeeded significantly, as they have produced a domain system that permits users to establish payments for 276 digital properties under a single domain name, while also having the ability to be utilized as a fully functioning website that can even have dApps built onto them because the domain is hosted on the blockchain. With no annual renewal and a single payment costs, Unstoppable Domains is an appealing tool for crypto users.

Is Unstoppable Domains Safe?

Unstoppable Domains is exceptionally safe because once claimed the domains exist under your address on blockchain, implying they are as safe and secure as the blockchain itself.

It is doubly safe because this likewise means that the domain can not be blocked by anybody aside from you, so your website is never at risk of being down due to censorship. The website for acquiring the domains is safe too and can be protected with two-factor authentication.

Just How Much is Unstoppable Domains?

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

The very 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 choose, as expense is based on domain type (. crypto is more than.wallet for example), and the length of the domain, with shorter domains costing additional. In addition, there are premium domains that cost 10s of thousands.

The next element is the gas costs associated with utilizing the Ethereum blockchain to claim your domain, due to the fact that the domains are stored on the Ethereum blockchain, the deal to claim them comes in ETH and is not included in your initial purchase. The gas costs 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 total.

What Are the Best Features of Unstoppable Domains?

There are a few features of Unstoppable Domains that stand apart. The reality that it is a one-time purchase with no yearly renewal is extremely enticing thinking about the way conventional domain ownership works, and in addition, the domain is censor resistant, implying it can not be removed by anyone other than the owner.

The domains also have more performance than standard domains because they can be used to a payment router, but likewise utilized to create sites with dApps developed straight on them due to the fact that they exist on the blockchain, allowing the use of clever contracts on your site. How Many Types Of Cryptocurrency In The World

Maybe the best and most attractive function of Unstoppable Domains is that is offers you a way to have one address for you to get 276 different crypto properties, indicating once 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 anyone who you wish to receive funds from.

 

Possible Dealbreakers.

There is only one genuine potential dealbreaker when it pertains to using Unstoppable Domains, which is the cost of claiming your domain with Ethereum.

This may just 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 claim your domain, or if for some reason you believe it is unreasonable to pay the gas costs. However, this is a one-time deal charge, and unless you choose to sell/transfer your domain to somebody else it will be the additional cost connected with getting your domain.