Main Reasons to Buy a Web3 Domain Name
The evolution of Web3.0. opens new opportunities in front of the business, the art, the recreational services, and the social networking.
One of them is owning one’s own digital space not managed or disposed with by an authority or a corporation.
The evolution from Web2.0. to Web3.0. being entirely organic, is showing the Internet users’ need of owning their own cyberspace. And one of these needs results in the creation of Web3 domain names.
The Web3 domain names are also known as blockchain domains because of the blockchain network they operate on. This type of blockchain-based DNS address allows the use of privately-owned, personalized domain names. Among the used extensions are .dao, .eth, . nft, .crypto, and .blockchain.
The blockchain domains can represent one’s digital wallet while ownership is, of course, proved as an NFT. These Web3 domains can be traded on the NFT marketplaces like the one on Cloudname while, at the same time, the applications and websites under them can be found via the traditional lookup tools for domain names.
The Domain Names
Basically, the domain names are the human-friendly names we give the websites in order to ease our use and interaction with them. Imagine what it would be if we must add digits instead of names and if we do it for all the websites we enter on a daily basis… 126.96.36.199, for example, stands for DomainName.com.
Instead of memorizing long IPs for each website we want to visit, we give them names like, for instance, accuweather.com or google.com.
And here comes the help of the DNS – the Domain Name System.
The Domain Name System is in charge of all the traditional domains – those ending with .com, .net, .org, .co.uk, etc. It represents the library of all the domain names that have been registered.
However, being registered and paid for doesn’t mean owning the domain name. And here comes one of the major differences between the traditional and the Web3 domain names.
Owning the domain
It’s like leasing a house – you can live in it, you can decide each room’s purpose or who’s visiting, and if it will be locked or open for guests. And you can do it as long as you pay for it. Once you are no longer able or willing to pay, the same house goes to another user.
Traditional domains, just like the house above, are never owned but rented. You can use your domain name as long as you pay for its yearly subscription. Verisign Inc., for example, is the owner of the .com extension and ICANN is the company that keeps the registrars of all the traditional domains.
Unlike the traditional domains where users are only customers, on Web3.0. you are the actual owner of your domain name. This allows you to control your online ID. The Web3 or blockchain domain name can be owned or co-owned and the ownership is under NFT form.
Traditional domain names’ purpose and functionality are meant to ease the interaction between the websites and the users. Usually, people type a domain name to enter their email account, another for their social media account, and another to check their banking statement, or to access their working platform.
Web3 domains can keep under the same name the user’s wallet, their website, but also they can add various applications – all under the same name. That’s why these types of domains are known to be one’s online ID. You can use your Web3 name to pay or be paid instead of memorizing the crypto wallet’s complicated number.
And all this is possible because of the blockchain.
The Blockchain Technology
This is a publicly accessible decentralized platform to keep and transfer information.
The system is maintained among the users’ computers linked in a network that acts as a server. This way, the need for one larger, stronger, and typically private player who takes care of the maintenance and is responsible in case of a vulnerability or a failure, is eliminated.
Instead, the users’ computers on the blockchain network are acting as servers. If one is down or switched off, the others keep maintaining the network. This makes the blockchain safer and more reliable. Bitcoin, the NFTs, and the Ethereum Name Service (ENS), are all built on blockchain technology.
The Main Reasons to Buy a Web3 Domain Name
The Web3 domain has not been owned previously and it won’t be owned by anyone else after you acquire it. Feel free to choose your name or your existing social networks’ ID and then buy the extension from companies like Unstoppable Domains or Cloudname.
Web3 domain name is your digital ID. It’s your online presence no matter if it comes to a crypto wallet or a website, or another application you want to add under the name.
Unlike the personal details provided when registering a traditional domain name, Web3 domains can be set anonymously and users’ IDs won’t be linked to their blockchain domains.
Because of the decentralized network, the Web3 domains exist on, they are less vulnerable to hacking. The lack of a main server means lack of possibility of global failure. While on the blockchain, this type of domain names cannot be taken or tampered and this makes them ideal to host sensitive data.
For now, the Web3 domain names are cheaper and at the same time, they represent a perfect glimpse to the future of the World Wide Web.
How to register a Web3 or blockchain domain name?
The first step is to obtain an ENS (Ethereum Name Service) supporting digital wallet like MetaMask.
Next step is to choose a domain name and to register it.
Just like the traditional domain names, registering a blockchain domain requires using a domain registrar like the ones on Unstoppable Domains or ENS.
The process of registering the chosen name goes through a smart contract on the Etherum blockchain. You’ll need your MetaMask or other digital wallet’s extension for this. Alternatively, you can use MyEtherWallet service.
Step three is to set up the DNS record for your name again through platforms like Unstoppable Domains or ENS.
Cloudname and Unstoppable Domains partnership
To promote Web3.0. and to make Web3 domains more accessible to the non-tech public, Cloudname and Unstoppable Domains join forces in a new campaign.
As of July 13th, every new Cloudname user will receive a coupon of $20 as a gift to be used for a blockchain domain name on the Unstoppable Domains’ Marketplace.
The goal is to get more users familiar with the world of Wb3.0. and its opportunities. The NTF domain names on Unstoppable Marketplace start at $5. You will be able to choose among ten different Web3 extensions.
These domains are not part of the ICANN network. Single-paid, with no renewal fee, they can even be bought without a crypto-wallet.
We live in exciting times. We are witnessing the evolution of Web2.0. to Web3.0. and the emancipation from the authorities and the corporate world managing the Internet and its data, our data. The blockchain domains are the gate to this new decentralized and more democratic environment.
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