Crypto For Dummies – Eth BTC

When sending out cryptocurrencies…Crypto For Dummies… The problem that frequently arises is confirming that you have the best address, since it is a complex string of numbers and letters, even doing a copy and paste most likely lead to you diligently validating that whatever pasted correctly, although it needs to have.

This is where Unstoppable Domains aims to help drive adoption of crypto with their blockchain domains. These domains can not only be used as completely functional web pages, with decentralized applications (dApps) built-in, however likewise as a payment center address where users can receive over 275 different crypto coins and tokens. By giving complex crypto addresses a human understandable name, Unstoppable Domains aims to be the domain addresses of the future.

 

unstoppable domain is a san francisco-based company that is supplying domain name extensions that are connected to the blockchain instead of being connected 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 extension which is connected to the silica blockchain which is an alternative to ethereum the benefit of using these blockchain based domain name 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 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 nothing that requires any kind of approval or approval you as the owner own your domain name so in this video i want to discuss to you everything that you need to called a novice about unstoppable domain names ensure to examine the links in the description for time stamps and any resources pointed out in this video so let’s start how does domain name registration in fact work i think

individuals are going to be quite surprised that it’s way more complicated and technical than you envisioned so when you go to someplace like namecheap.com or godaddy.com you’re not in fact purchasing the domain what you’re doing is you’re launching the domain name through a icann licensed domain name register why do i state i can license since you can’t get your domain names directly from i can which is again the nonprofit company that manages the dns system you have to go through an icann certified domain name register in order to get a domain name 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 guidelines which’s what individuals have been providing for the last couple of decades in order to get a domain name so that’s why you require to pay a yearly fee on your domain since you’re not actually 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 windows registry that manages that domain extension which is then completely managed and organized by icann broadly speaking so like when you get it.com.net.org the computer system registry for that extension

Is unstoppable domains on Ethereum? Crypto For Dummies

is a verisign for instance so all these various domain name extensions have different computer registries and the function of the computer system registry is just to handle the administrative data for that particular domain nft domain versus the traditional dns system what’s the difference well the traditional dns system is a centralized 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 change it but like what does that specifically mean a non-fungible token is simply a piece of information discovered on a blockchain that is verifiable and represents a special digital product in this circumstances our domain dot crypto versus dot zill what’s the difference with these two so if you leap over to unstoppabledomainnames.com link in the description you’re going to find out that you can’t geta.com.net.org why well you can’t you must already sort of know why because those are handled by verisign which is a domain registry which is handled 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 just get blockchain based domain right now they only have a dot crypto in dot zo at the time of recording this video the main difference is that these two are tied to various block chains that’s it so you have Crypto For Dummies

 

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 developed and you have a little bit more services and features developed around uh at the ethereum blockchain with a dot crypto domain than you do with a dot zill but functionally speaking they are the same customized crypto addresses that can be set up as a payment entrance so this is the main feature of unstoppable domain names obviously with time as like we have actually decentralized web host establish in time it will be possible to utilize like a decentralized domain and a decentralized web host to create your own decentralized site currently it’s not actually possible i mean you can do it however it’s quite technical uh.

Pros.

One-time purchase of domain.

Streamlines method which individuals communicate with crypto addresses.

Censor resistant domain saved in your wallet.

More functionality than conventional domains.

Supports 276 crypto properties.

Cons.

Need to invest ETH to claim domain.

Still some concern regarding 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 existing CEO, who saw a requirement 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 place, so users did not have to learn IP addresses in order to get to sites, except for crypto addresses.

In this manner they have been successful greatly, as they have actually created a domain system that allows users to set up payments for 276 digital properties under a single domain name, while also being able to be used as a fully working website that can even have dApps built onto them because the domain is hosted on the blockchain. With no yearly renewal and a single payment charges, Unstoppable Domains is an interesting tool for crypto users.

Is Unstoppable Domains Safe?

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

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

How Much is Unstoppable Domains?

The cost of Unstoppable Domains depends on a 2 main aspects, though it should be noted that acquiring a domain is a one-time expense and needs no annual renewals of any sort.

The first factor is the cost of the domain itself, this can vary from $20 USD to well over $1000 USD depending on the domain you pick, 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 factor is the gas fees associated with using the Ethereum blockchain to claim your domain, due to the fact that the domains are stored on the Ethereum blockchain, the deal to declare them is available in ETH and is not included in your preliminary purchase. The gas costs you will pay will depend upon the existing cost of ETH and the network blockage at the time of the transaction. Overall you can get likely yourself a cheap.crypto domain and claim it for under $50 total.

What Are the Best Functions of Unstoppable Domains?

There are a few functions of Unstoppable Domains that stick out. The reality that it is a one-time purchase without any annual renewal is incredibly enticing thinking about the way conventional 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 likewise have more performance than conventional domains since they can be utilized to a payment router, but likewise used to develop websites with dApps built directly on them because they exist on the blockchain, allowing the use of smart contracts on your site. Crypto For Dummies

Maybe the best and most attractive feature of Unstoppable Domains is that is provides you a way to have one address for you to get 276 different crypto assets, indicating when you set it up you will just ever require to understand your domain and your payments will be routed to the wallets you set up for each cryptocurrency. It is easier not only for you, but for anybody who you want to get funds from.

 

Prospective Dealbreakers.

There is only one real potential dealbreaker when it pertains to utilizing Unstoppable Domains, which is the expense 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 declare your domain, or if for some reason you believe it is unreasonable to pay the gas costs. This is a one-time transaction cost, and unless you decide to sell/transfer your domain to somebody else it will be the additional cost associated with getting your domain.