Should You Invest In Namecoin | Easy Crypto

Unstoppable domain is a san francisco-based company…Should You Invest In Namecoin… that is offering domain name 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 extension which is connected 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 controlled and run by icann so anything always needs approval from that governing body but something like a dot crypto or zillow these are based upon the blockchain and they are simply totally decentralized so there’s no governing body there’s absolutely nothing that requires any type of approval or authorization 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 novice about unstoppable domain names 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 in fact work i believe

individuals are going to be rather stunned that it’s way more technical and complex than you thought of so when you go to someplace 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 licensed domain register why do i state i can certify since you can’t get your domain names directly from i can which is again the nonprofit organization that manages the dns system you have to go through an icann licensed domain name register in order to get a domain and that’s just how it works like you resemble why do i need to do that i do not understand why asking me those are just the rules 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 need to pay a yearly charge on your domain names since you’re not really 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 pc registry that manages that domain extension which is then totally managed and organized by icann broadly speaking so like when you get it.com.net.org the windows registry for that extension

Is unstoppable domains on Ethereum? Should You Invest In Namecoin

is a verisign for example so all these different domain name extensions have different computer system registries and the role of the computer registry is simply to manage the administrative information for that specific domain nft domain versus the standard dns system what’s the difference well the conventional dns system is a central system as i alluded to earlier based around icann so you have actually icann you have your domain computer system registries then you have your icann accredited domain name registrars nfts by contrast are non-fungible tokens non-fungal meaning like you can’t jump in and alter it but like what does that specifically suggest a non-fungible token is simply a piece of information found on a blockchain that is verifiable and represents a distinct digital item in this circumstances our domain names 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 discover that you can’t geta.com.net.org why well you can’t you need to currently sort of know why due to the fact that those are handled by verisign which is a domain name computer registry which is handled by icann that’s part of the dns system that’s why you can’t get those types of domain names through unstoppable domain names you can just get blockchain based domain names right now they just have a dot crypto in dot zo at the time of recording this video the primary difference is that these two are connected to various block chains that’s it so you have Should You Invest In Namecoin

 

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 developed and you have a bit more services and functions constructed around uh at the ethereum blockchain with a dot crypto domain than you make with a dot zill but functionally speaking they are the same customized crypto addresses that can be set up as a payment gateway so this is the main function of unstoppable domain names undoubtedly with time as like we have decentralized web host develop gradually it will be possible to use like a decentralized domain and a decentralized webhosting to create your own decentralized website presently it’s not truly possible i indicate you can do it however it’s pretty technical uh.

Pros.

One-time purchase of domain.

Simplifies way in which individuals engage with crypto addresses.

Censor resistant domain saved in your wallet.

More performance than traditional domains.

Supports 276 crypto assets.

Cons.

Have to spend ETH to claim domain.

Still some concern as to whether Unstoppable Domains will attain extensive 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 need for it to be simpler for users to communicate with crypto addresses. The objective of Unstoppable Domains is to be like the DNS system that came into location, so users did not have to learn IP addresses in order to get to websites, except for crypto addresses.

In this way they have actually succeeded significantly, as they have actually developed a domain system that allows users to set up payments for 276 digital assets under a single domain name, while also having the ability to be used as a completely functioning site that can even have actually 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 exceptionally safe due to the fact that when declared the domains exist under your address on blockchain, implying they are as safe as the blockchain itself.

It is doubly safe because this likewise implies that the domain can not be blocked by anyone besides you, so your site is never ever at risk of being down due to censorship. The site for buying the domains is safe as well and can be protected with two-factor authentication.

How Much is Unstoppable Domains?

The expense of Unstoppable Domains depends upon a 2 main factors, though it ought to be noted that purchasing a domain is a one-time cost and requires no annual renewals of any sort.

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

The next element is the gas fees related to using the Ethereum blockchain to declare your domain, due to the fact that the domains are saved on the Ethereum blockchain, the transaction to claim them is available in ETH and is not consisted of in your preliminary purchase. The gas charges you will pay will depend upon the current cost of ETH and the network congestion at the time of the transaction. 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 out. The reality that it is a one-time purchase with no yearly renewal is incredibly attractive considering the way traditional 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 also have more performance than traditional domains due to the fact that they can be used to a payment router, however likewise utilized to create websites with dApps constructed directly on them since they exist on the blockchain, allowing the use of smart contracts on your website. Should You Invest In Namecoin

Possibly the very best and most enticing feature of Unstoppable Domains is that is supplies you a way to have one address for you to receive 276 different crypto assets, implying once you set it up you will only ever require to understand your domain and your payments will be routed to the wallets you established for each cryptocurrency. It is much easier not just for you, but for anyone who you wish to receive funds from.

 

Possible Dealbreakers.

There is only one real prospective dealbreaker when it pertains to utilizing Unstoppable Domains, which is the cost of declaring 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 purchase some in order to declare your domain, or if for some reason you think it is unreasonable to pay the gas fees. This is a one-time transaction charge, and unless you decide to sell/transfer your domain to somebody else it will be the extra charge associated with getting your domain.