Why Are .Io Domains Popular With Cryptocurrency – Lets Talk Crypto

When sending out cryptocurrencies…Why Are .Io Domains Popular With Cryptocurrency… The problem that frequently occurs 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 results in you diligently validating that whatever pasted correctly, even though it needs to have.

This is where Unstoppable Domains aims to help drive adoption of crypto with their blockchain domains. These domains can not just be used as fully functional web pages, with decentralized applications (dApps) built-in, however also as a payment hub address where users can get over 275 various crypto coins and tokens. By giving intricate crypto addresses a human legible name, Unstoppable Domains aims to be the domain addresses of the future.

 

unstoppable domain is a san francisco-based company that is offering domain extensions that are tied to the blockchain instead of being tied to the dns system particularly you can get a dot crypto which is connected 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 advantage of using these blockchain based domain extensions is just that they are decentralized so the dns system is managed and operated by icann so anything always requires approval from that governing body but something like a dot crypto or zillow these are based on the blockchain and they are simply totally decentralized so there’s no governing body there’s absolutely nothing that needs any kind of approval or authorization you as the owner own your domain so in this video i wish to explain to you everything that you require to referred to as a newbie about unstoppable domain make sure to check the links in the description for time stamps and any resources mentioned in this video so let’s begin how does domain name registration in fact work i believe

people are going to be quite surprised that it’s method more technical and complicated 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 licensed domain name register why do i say i can license because you can’t get your domain names straight from i can which is once 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 name which’s just how it works like you’re like why do i need to do that i don’t know why asking me those are simply the rules which’s what people have actually been doing for the last couple of years in order to get a domain name so that’s why you require to pay an annual charge on your domain since 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 windows registry that manages that domain name extension which is then absolutely 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? Why Are .Io Domains Popular With Cryptocurrency

is a verisign for example so all these different domain extensions have different registries and the role of the registry is simply to handle the administrative data for that particular domain name nft domain 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 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 however 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 names dot crypto versus dot zill what’s the distinction with these 2 so if you jump 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 need to already type of understand why because those are handled by verisign which is a domain name windows 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 today they only have a dot crypto in dot zo at the time of recording this video the primary difference is that these 2 are connected to various block chains that’s it so you have Why Are .Io Domains Popular With Cryptocurrency

 

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 little bit more services and features developed 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 customized crypto addresses that can be established as a payment gateway so this is the main function of unstoppable domain names certainly with time as like we have decentralized web host establish with time it will be possible to use like a decentralized domain and a decentralized web host to produce your own decentralized site currently it’s not really possible i imply you can do it however it’s pretty technical uh.

Pros.

One-time purchase of domain.

Simplifies way in which people interact with crypto addresses.

Censor resistant domain saved in your wallet.

More functionality than conventional domains.

Supports 276 crypto assets.

Cons.

Need to invest ETH to claim domain.

Still some concern as to whether Unstoppable Domains will attain widespread 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 requirement for it to be much 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 need to discover IP addresses in order to get to websites, except for crypto addresses.

In this way they have actually prospered greatly, as they have created a domain system that permits users to set up payments for 276 digital possessions under a single domain name, while likewise being able to be utilized as a completely working site that can even have dApps developed onto them since 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, meaning they are as secure as the blockchain itself.

It is twice as safe since this likewise suggests that the domain can not be obstructed by anyone besides you, so your website is never at risk of being down due to censorship. The site for acquiring the domains is safe too 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 ought to be kept in mind that buying a domain is a one-time cost and needs no yearly renewals of any sort.

The very first aspect is the expense 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, with much shorter domains costing additional. In addition, there are exceptional domains that cost tens of thousands.

The next factor is the gas fees connected with using the Ethereum blockchain to claim your domain, because the domains are kept on the Ethereum blockchain, the transaction to declare them comes in ETH and is not included in your initial purchase. The gas fees you will pay will depend on the current cost of ETH and the network congestion at the time of the deal. In general 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 functions of Unstoppable Domains that stand apart. The truth that it is a one-time purchase without any annual renewal is incredibly enticing considering the method standard domain ownership works, and in addition, the domain is censor resistant, meaning it can not be removed by anybody aside from the owner.

The domains likewise have more functionality than standard domains since they can be utilized to a payment router, however also used to develop websites with dApps constructed straight on them due to the fact that they exist on the blockchain, allowing the use of clever agreements on your site. Why Are .Io Domains Popular With Cryptocurrency

Maybe the very best and most enticing function of Unstoppable Domains is that is provides you a method to have one address for you to receive 276 different crypto possessions, implying when you set it up you will just ever need to understand your domain and your payments will be routed to the wallets you set up for each cryptocurrency. It is much easier not just for you, but for anyone who you wish to receive funds from.

 

Prospective Dealbreakers.

There is only one real prospective dealbreaker when it pertains to utilizing Unstoppable Domains, which is the expense of declaring your domain with Ethereum.

This might only be a dealbreaker since 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 fees. This is a one-time transaction fee, and unless you choose to sell/transfer your domain to somebody else it will be the extra fee associated with getting your domain.