What are blockchain domains?
Blockchain (also block chain) domains are based on an alternative system to name resolution. However, this technology is not yet suitable for the masses, although it promises great advantages, for example, the most important: with blockchain domains you have the option to directly buy your domain instead of just renting it.
How do blockchain domains work?
If you enter a domain in your search engine’s browser, the domain name system (DNS) opens the desired web page. To do this, the Internet Corporation for Assigned Names and Numbers (ICANN) manages all domain names centrally. In theory, each registered domain has its own IP address that is linked to the corresponding server. Therefore, when entering the web address (URL), the DNS selects the IP address and accesses the Internet page.
Blockchain domains, on the other hand, work in a decentralized way. In other words, there is no central point of convergence in this system. Blockchain technology is used in cryptocurrency trading: the transactions made are stored in the ledger, which attaches and organizes the data of each block on different servers. So users can track their transactions at any time. Furthermore, this feature makes the system difficult to manipulate.
Blockchain domains are based on the same idea: the possessory title of this domain is stored in the blockchain. Therefore, instead of accessing a central database to open a web page, the search engine can see all the information associated with the corresponding domain directly in the ledger. As we can see, they resemble non-fungible tokens (NFTs), which is why this new technology is also known as NFT domains .
The advantages of blockchain domains:
If you are looking for a conventional domain for your website, you must pay rent to a provider to register your domain name with ICANN. In addition, to have the domain for a longer time at your disposal, you must continue paying the fees every year. Otherwise, the domain will again be available to other people. Blockchain domains, on the other hand, are purchased directly. That is, once you have acquired it, it is registered in the ledger and you have ownership until you decide to sell it.
Another advantage is the decentralization of the blockchain system. This means that no organization (either ICANN or providers) has control over the corresponding domain. Only the owner has the right to make changes and for this reason, it is impossible to block. An example of a website that implements this new technology for its domain is the Interplanetary File System (IPFS), a decentralized alternative to the World Wide Web. Since there is no central server, the content of this website cannot be blocked or censored.
Blockchain Domains: Application Areas
Blockchain domains offer some of the possibilities of conventional domain names. However, there is more:
- Website – Your website can also be made available through blockchain domains, just like conventional domains. These websites store the information and work in a decentralized way in a chain of blocks.
- Digital Wallet – The domain is a handy solution and replaces the cryptocurrency digital wallet address. Also, you can attach multiple addresses to a single address for different markets.
- Trading – Blockchain domains are, in principle, non-fungible tokens (NFTs), so they are predetermined for trading. In addition, the smart contract system makes buying and selling simple and secure.
- Applications – This type of domain also allows you to embed different types of software. In fact, there are platforms and development boxes specific to blockchain applications.
Currently, blockchain domains and their websites are not very popular due to their technical requirements. If you want, for example, to access a domain directly, you need a browser that supports this technology such as Opera. For other browsers, be it Chrome or Firefox, you would need to install a plugin.
However, there are companies that have already bought their blockchain domains. One of them is the large Budweiser brewery, which has acquired beer.eth It is, therefore, to be assumed that Web3 will become more and more popular with the passage of time. If this is going to be the case, take advantage now and secure your desired domain while the prices are reasonable.
How can blockchain domains be registered?
Currently, it is not easy to buy a blockchain domain because of the limited supply in the markets. Unstoppable Domains, for example, is a provider that has managed to establish itself in this sector, as it is easy to use. In addition, there are the Ethereum Name Service (ENS) or Trust Domains services. More specifically, Unstoppable Domains writes their domains to the Ethereum blockchain, so you would need Ether. For this reason, create a digital wallet to store cryptocurrencies and buy a certain amount of Ether to set up and manage your future blockchain domain.
If you want to buy a domain on the Unstoppable Domains platform, go to the main page and enter the desired address. This way you can check if it is still available. Next, you will notice that the prices vary according to the domain name. Short addresses typically sell for up to US$10,000, while longer, less attractive ones can be had for as little as US$20. These are the domain extensions that Unstoppable Domains offer:
- .888
- .bitcoin
- .blockchain
- .coin
- .crypto
- .dao
- .nft
- .wallet
- .x
- .zil
Other platforms specialize in different extensions. The ENS provider, for example, offers only the .eth extension. Trust Domains instead has .defi for Etherium and offers .cfx, .bnb and .heco for other blockchains. However, this is just the beginning and more extensions will surely be available in the near future.
Do you want to own a blockchain domain? In that case, select the desired address and buy the domain directly without additional payments. To do this, Unstoppable Domains accepts credit cards, PayPal or cryptocurrency.
However, before the domain can be used, it must be transferred to the blockchain. Only on that occasion, an extra payment is usually made to the blockchain operator, also known as a Gas Fee, as is the case with NFTs. This fee is paid when making a general change. In the case of Unstoppable domains, at the moment there is no need to pay this first fee to register the domain in the blockchain.
Another very useful feature, you can access the domain through the Unstoppable Domains platform. To do this, link the blockchain domain with your digital wallet and open a web page or software. You can also find other web pages on the IPFS, but conventional browsers are not designed for this yet.
In summary:
If you want to be successful on the internet in the long run, do some more research on the subject of blockchain domains. In addition, we recommend that you secure your blockchain domain now, regardless of whether you intend to use it or sell it. However, blockchain technology is not yet popular, especially in the area of web pages, so it is essential to use a conventional domain to be online. In this sense, you can buy and register your domain with IONOS and, at the same time, receive an SSL certificate and an email with inbox.