Most valuable Domain extensions: is .eth the next .com?

What are Web domain extensions?

In the beginning, domains were created as an alternative to the convoluted and nearly forgettable process of entering a string of digits to access a website. Nowadays, domains are a must for exploring the internet, providing us with a simple method to remember our favorite websites by typing the domain name into a browser’s address bar. There even exist most valuable domain extensions because of their significance even in branding

Web addresses are formatted using a predetermined pattern. Internet users may access the websites they want to without having to input lengthy IP addresses since “cloudname.com” is much easier to remember than a string of digits. Name resolution via DNS assures this. A URL is hierarchically organized in order to do this translation. First, look for the subdomain (after “https://”) on the far left, which is typically www but may also contain “blog” or different language versions (es or en). The domain name that follows has been freely selected. The top-level domain, or domain extension, completes the address.

TLD categories

There are three categories of Top-level domains (TLDs): those that are country-specific (ccTLDs), such as .us for the USA, those that are generic (gTLDs), such as .org, and lastly sponsored (sTLDs), such as .edu for educational institutions. TLDs are (for the most part) handled by ICANN or IANA globally.

While there are now many distinct domain extensions and users create new top-level domains all the time, certain TLDs are more well-liked than others. Due to this, there is a booming domain market where domains may fetch high prices. You’ll also need to consider your budget while selecting the ideal domain.

Cloudname can help you identify just about any domain extension, but not all of them are equal or meets your needs. When selecting the appropriate extension for your website, it is useful to be aware of the distinctions between domain extensions like .com and .org, etc.

The most valuable domain extensions

As a top-level domain or TLD, the majority of users automatically select .com. Obviously, the domain .com is extremely well-liked; 150 million .com domains have been registered under this domain.

However, there are many other top-level domains. Although none of them are as well-known as .com, they still manage to amass a wide variety of registrations.

In reality, several top-level domains have less than 1,000 second-level domain registrations, believe it or not!

The number of domains registered in each top-level domain may be determined using a variety of data sources.

The registry for .com and .net is Verisign. It maintains a running total for those two domains on its website.

A good job is done collecting statistics for new top-level domains like .gay and .xyz on the website nTLDStats.com. It calculates the approximate number of domains registered at any given moment using publicly accessible data provided by the registries and other sources.

Operators of all top-level domains, excluding country code domains, submit their registration data to ICANN once each month. But it takes ICANN three months to release these figures.

Registered domains per TLD

If we go by statistics, we can’t say for sure how valuable or popular a domain is given that there are many factors that affect the number of registered domains. For example, the price for registration and the total number of populations in a country considering a country-based top-level domain.

For example in the following list;

1.   .com – 148.7 million
2.   .tk – 27.5 million (Tokelau)
3.   .cn – 24.1 million (China)
4.   .de – 16.5 million (Germany)
5.   .net – 13.4 million
6.   .uk – 11.8 million (United Kingdom)
7.   .org – 10.1 million
8.   .nl – 6.0 million (Netherlands)
9.   .icu – 5.9 million
10. .ru – 5.7 million (Russia)

Tokelau is a very small area in New Zealand with 1,500 persons but has 27.5 million registered .tk domains. How is this possible?

Well, it’s simply because the .tk domain is free, powered by a company working with the Island, and not because it is popular or valuable. What this implies is, that persons outside Tokelau can register on the domain simply because it is free and this is a strong factor against the population of the region itself.

So how then do we classify or on what basis do we have the most valuable domain extension?

Basically, the most valuable domain extensions would be the ones that add value to your websites and meets the need for which you register them.

Briefly, there are two basic things you would consider before choosing your domain extension;

•     The use and
•     The reason for creating the domain

Another factor to consider is your location.

For example, .com is the most valuable extension when it comes to commercial use.

A .us or .de would be the most valuable domain extension if you or your business is in the US or Germany.

.tech would be better if your reason is technology related or .blog if your reason is to run a blog site.

Is .eth the next .com?

As the Web3 equivalent of the .com, major businesses are snatching up domain names with the .eth suffix. But is .eth the replacement for .com, or is it simply more Web3 hype?

Based on the Ethereum blockchain, the Ethereum Name Service (ENS) is a distributed name system for Web3 applications.

In contrast to an Ethereum wallet address, which is a lengthy string of digits and letters, an ENS domain connects this address to a more palatable domain name.

Many individuals hurried to “squat” significant names that represented well-known corporations and personalities after the establishment of the ENS register.

For instance, although the ENS domain name amazon.eth has not yet been purchased by the world’s largest online retailer Amazon (AMZN), a sizable offer has just been made for it on OpenSea.

Why .eth domains are valuable

An ENS serves as wallet to receive cryptocurrency payments and NFTs, as well as to log in to a variety of accounts and platforms, including Decentraland.

In the Web 3.0 community, many now utilize it as a calling card or badge of honor, frequently changing their Twitter and Discord nicknames to their public .eth addresses.

The ENS on a first-name basis demonstrates that the person or brand is current with the scene, similar to email addresses, websites, and social media handles. Celebrities are already adopting them; two of the most popular eth accounts are Parishilton.eth and Shaq.eth.

According to Wang, if you possess your wallet, people will view you as legitimate.

Pahagbia suggests that minting an NFT may be a utilitarian purpose. “In order to mint an NFT, brands must have a blockchain address. They must specify in the smart contract that it is held by [the brand] if they are utilizing a third party to mint it on their behalf. Visit Opensea to see how transfers take place between wallets. The address could be connected to a .eth; if not, it works similarly to webpages where you need the URL and, failing that, the IP address. The new URL is “.eth.”

Conclusion

The need to stress the importance of domain names and their extensions is obvious. They help both in branding and in making your website easily accessible.

Start your Web3 journey with Freename TLDs and Domains. Sign up now and get a welcome coupon code of 10$ on your first purchase. 

Web3 domain names are blockchain-based DNS addresses that allow each user to create and manage their domains. These addresses represent a user’s wallets. They are advanced resources that can be utilized as some other blockchain domain name. These domains can be traded on Cloudname. We shall be considering the best Web3 domains in this article.

The read-write-trust web, also known as Web3, is the third version of the internet. It uses blockchain technology, smart contracts, cryptocurrencies, and NFTs to create a decentralized web. It makes it more secure and robust since it is dispersed across a network of computers rather than being controlled centrally. Additionally, the decentralized web brings a switch from the traditional domain name system (DNS) to a Web3 domain name.

Blockchain-based DNS addresses, known as Web3 domain names, let users construct and maintain their custom domains. They serve as wallet addresses for the users. Users can trade the decentralized crypto domain names on NFT exchanges. The following domain extensions are used in Web3: .eth, .crypto, .dao, .blockchain, .nft, .888 etc.

Web3 domains, sometimes called NFT domains, provide a wide range of use cases and advance what we know about conventional or traditional domains. Web3 domains may be exchanged like an NFT, and one of their primary features is decentralization.

Before we delve into the best Web3 domains, we would first have to state what domains are clearly.

What are Domain names?

Domain names are the data that may translate a string of words from a natural language into an IP or record locator address. In the conventional domain name system, 13 servers worldwide are used to maintain this “ledger”. It’s supervised by a global governing organization and the nations that each control their domain names.

These domains are internationally compatible with the current routers, browsers, applications, and websites.

The list and record requests, as well as verification, are handled on one of several decentralized blockchains in the Web3 domain name system. Without a centralized authority, a set of agreements and regulations control the domain. Private enterprises play the function of marketing and managing ties with the Blockchain.

So, Web3 Domain Names are the crossing point of the Domain Name world and the Crypto universes.

What advantages do web3 domain names offer?

Control over online identity: the best Web3 domain would allow for individual or group ownership, unlike conventional domain names, which big businesses or organizations frequently control. It enables users to express themselves or their brand more personally by using their domain and distinctive identifiers in NFT form.

Lower cost: They are significantly less expensive than conventional domains. That’s because Web3 domains do not need a centralized registrar and do not involve intermediaries. Regular domain names start at $6.98. Web3 domain names, such as the .hmn extension used by the Cortex app, are free.

They are future-proof: Web3 domain names will gain popularity as the internet transitions to a more decentralized paradigm.

Security: Since Web3 domain names are maintained on the Blockchain, they cannot be altered or removed by anybody, making them perfect for storing sensitive data or creating censorship-resistant apps. Since they lack a single point of failure, they are also more resistant to hacking and other types of attacks.

Anonymity: They may be registered anonymously, unlike conventional domains, which frequently need personal information. Users will have better online privacy because their identity won’t be connected to their domain.

The best Web3 domains

There is no such thing as best Web3 domains in their entirety because each serves its specific function and often has specific use case(s). It means that, before you choose a domain, you must consider at least why and for what you need a Web3 domain.

Below is a representative list of the best Web3 domains.

•  .Metaverse

The .metaverse domains can be registered on any blockchain users prefer. This TLD has been minted on Freename. Each name is distinct and can only be minted once per first minting. The owners of metaverse TLD receive a royalty on all upcoming purchases of that specific name which in this case is Freename. Each domain can be employed for a variety of purposes, such as hosting your website and substituting the NFT domain name for your lengthy cryptocurrency wallet address.

• .ETH

The conventional domain name investors and blockchain entrepreneurs, two extremely exciting markets, meet at the intersection of the ENS.eth domain names. Sadly, despite there being millions of blockchain users worldwide, very few blockchain domain names have been registered.

Blockchain users have discovered, that picking a blockchain domain name makes utilizing their apps easier. That’s why there is now a sizable pent-up demand for domains. Like with traditional domains, you can also lease out your blockchain domains. Also, you can even set up a lease-purchase deal to let others build brand value on your property while keeping your choices open.

With your .eth address, you can receive any and all types of cryptocurrency in your single .eth wallet.

• .X

.X is the ideal option when looking for the most adaptable and memorable Web3 domain. By running your decentralized webpage utilizing one, you may utilize this name to start establishing your profile and strengthen your position in the Web3 realm.

You may considerably abbreviate your wallet address with your .x domain. It helps you and anybody with whom you do business remembers your address more easily.

The suffix “X” is likely to become one of the most well-liked Web3 domain suffixes since it is brief, adaptable, and simple to remember.

Being one of the original domain extensions introduced, .com has remained among the most well-liked over time. And for the same reason, .x has the best chance of becoming the most well-known NFT domain.

• .NFT

For good reason—they let you own digital assets—NFTs have emerged as Web3’s most talked-about subject.

The best Web3 domain for creators, admirers, collectors, and artists is the .nft domain. You may host NFT websites, trade NFTs, and transfer and receive over 275 other cryptocurrencies using this short name.

Utilizing a .nft domain name is ideal, given that many NFT creators offer a product or service (or both). When you have a .nft domain to go along with your brand name, you can enhance your reputation and let your customers know they are doing business with you and not fake.

The implication is that your Web2 website, social media profiles, wallet addresses, and Web3 websites can all be identical. It enables you to increase your community’s brand perception and foster trust.

• .Crypto

.crypto domains are a cutting-edge solution that offers an unprecedented degree of protection to domain owners represented by single Non-Fungible Tokens (NFT). These websites don’t have a single point of failure and let people post without worrying about being blocked by an outside organization.

Some individuals are often motivated to purchase this domain because it is the first of its type. Owning a domain with the word “crypto” in it may be the holy grail of NFT domains because it was one of the first terms to be “coined” (no pun intended) in the Web3 movement.

Although it’s impossible to predict what the .crypto domain’s future contains, if I had to venture a guess, I’d say that some fascinating things are probably currently being developed using .crypto.

• . Blockchain

You may now register a .blockchain domain thanks to a collaboration with Unstoppable Domains and Blockchain.com, one of the biggest bitcoin financial services.

One of the greatest possibilities for blockchain lovers is the .blockchain domain.

You may receive over 275 currencies and tokens on any blockchain network with this name, which lets you combine all your cryptocurrency addresses into a single .blockchain domain.

It is ideal for individuals and companies who need to set up a simple payment solution. Because this domain will probably be renowned, particularly for cryptocurrency transactions.

• .Bitcoin

The .bitcoin domain is a method for offering Bitcoin users an avenue to create awareness or draw other Bitcoin enthusiasts to themselves.

Also, you can utilize your .bitcoin domain name to supplant your wallet addresses (including other cryptocurrency addresses), have your DAO’s site, and offer your view on Bitcoin with others.

• .Wallet

With  .wallet domains, you won’t ever need to worry about sending Bitcoin to the wrong address. Comparable to the blockchain industry, the preferred domain suffix for use with payments is .wallet. Whether doing commercial or personal transactions, possessing a .wallet domain communicates to people that you are a professional.

I think businesses will ultimately utilize this domain exclusively for payments. A .wallet domain might be used to pay bills, loans, and other monthly obligations.

For individuals who perform recurring transactions, the .wallet domain provides a streamlined payment alternative.

• .Dao

The .dao domain is appropriate for advocates of open governance, community, and those in charge of DAO.

Decentralized autonomous organizations (DAOs) are made up of computer-programmed rules that are frequently open to the public and subject to member oversight (not a central authority).

The .dao domain was created with the idea that corporations would likely use DAOs in the future.

Although DAOs are relatively new, businesses can integrate them into their organizational structure. What more effective strategy is there to promote your DAO (and provide simple access) than to create a DAO-specific domain?

Other notable Web3 domains include .moon, .hodl, and .token which are all trademarked by Freename.io.  All these can also be minted on freename. The first miner to register a TLD gets to unlock royalties as well, and earn passively from them when domain names are registered on them.

Conclusion

The list of best Web3 domains provided here is not exhaustive; what we tried to do here was to highlight those that are best for specific use cases. Looking to create your domain, Cloudname is the ideal place for you.

Web3 Use Cases

Can we start with the fact that the internet has changed so much since it was discovered? It is understandable because for users to enjoy the full-blown benefits of the internet, there is a need for it to expand and grow to make itself more accessible and valuable. Hence, the evolution of the web.
From Web1 down to Web2, and now, Web3, it has been a crazy transformation. The best part of this evolution is that it gets better every time, but some people might argue the case when comparing Web2 and Web3. That’s a discussion for another time.
Let’s check out Web3 use cases as we proceed in this article.

The Evolution of the Web

The first of the Web models was Web1, and you can just relate it to a bland salad, just cabbage, nothing more. It was highly characterized by its lack of emphasis on user input and its emphasis on static websites and text-based web pages for information delivery. That’s why it’s commonly referred to as the “read-only web” on the internet. It can only display and doesn’t welcome your opinion as a user.

Then, the web gurus and scientists thought about how they can make Web1 better, and this birthed Web2, with many more use cases. The current web format most of us got to know. It had a lot of changes and underlying internet infrastructure. It set the foundation for the next step in the web’s evolution. Web2 showed that the web has much more potential than we explored. It can access a wide range of users and work in tandem with a wide range of systems and applications. Web2 brought the era of a merger between the web and social media apps.

This foundation gave rise to the birth of Web3. The internet development efforts are focused on Web3, a decentralized web infrastructure that has sparked a revolution in the online community. Many people are still trying to understand what Web3 has to offer them. It’s not only individuals. Companies are also looking for Web3 use cases to assist the growth and development of their businesses.

So, what exactly is Web3?

What is Web3?

Web3, called Web 3.0, is the name for the latest World Wide Web revolution. The core goal of Web3 is to create a decentralized network for the World Wide Web. No single entity controls the hub where most Internet traffic originates and terminates. No external factors are involved. Thus Web3 offers much wider use cases than its predecessors.

The Internet is and always has been a decentralized network. It’s made up of a plethora of networks that are, in turn, linked to one another. It is usually sufficient if the route to an online destination goes through additional nodes in case a node fails. If your local network or the remote server of the desired Internet service is experiencing difficulties, the link between the two will be disrupted.

Furthermore, the only issue is that a small number of multinational conglomerates now host most websites and online services. The Internet has risen to the forefront because of how crucial its server infrastructure is. On top of that, these businesses often amass customer information, to sell them or use them for advertising. Social media platforms like Facebook and search engines like Google are prime examples of this model because they rely on advertising revenue to sustain themselves.

In addition, current applications of blockchain technology include digital currencies, NFTs, etc. It allows for platform-independent, private data transmission. By the way, this article explains how a blockchain operates.

What are the features of Web3?

One of the things to consider, as we go through this Web3 use case, includes the features and benefits of this latest evolution of the world wide web. We can fully grasp what Web3 is all about.

Although, one of the major features of Web3 is decentralization which has birthed a lot of other benefits. Let’s dig into this.

Security

The theoretical benefit of blockchain decentralization is data privacy. If things are protected by blockchain, then no one can access them without permission. Of course, how far huge firms are authorized to collect data about you remains a question in the implementation, and that data will be utilized to continue displaying targeted advertisements. In contrast, Web3 provides a safer environment for users in terms of security against cyber threats.

However, cryptocurrencies are now also not completely risk-free. Possible entry points for an attack include malware on the user’s PC or the crypto platform’s website. The Internet’s security could be much improved if it were migrated to the blockchain.

Limitless Scalability

Unfortunately, the internet’s flaws have been there for a long time and show no signs of being fixed soon. Online video games are a prime example of this phenomenon. Even though it didn’t come out until 2004, World of Warcraft was a major step forward for massive online games with many users doing different things simultaneously. Long lines and choppy gameplay weren’t enough to dampen people’s interest in the phenomenon in major cities.

The Web3 network solves this by spreading the workload throughout the whole network; Web3 may grow nearly indefinitely, as new participants always add more processing power. If the game world is not overly crowded, there is no need to split it into multiple servers. Big, virtual game worlds might be the way of the future.

Metaverse

A lot of people consider metaverse to be the idealized version of Web3. With the help of the metaverse, we may include more virtual aspects into our everyday lives. We can also use the vast online world as an interface, that incorporate apps and other virtual worlds effortlessly.

Furthermore, an additional tenet is that all users sharing the same virtual location have the same impression of that location. Therefore, scalability is vital so that a few thousand users can congregate in the same virtual space across numerous instances but still be able to interact with one another. Since the blockchain serves as Web3’s foundation, virtual goods and services in the metaverse can be purchased using cryptocurrencies or Non-fungible tokens (NFT) more easily.

What does the future hold for Web3?

Web3 is the bedrock of so many developments and a more promising future for the web. The potential and use of Web3 have been planted deeply in the future, the Metaverse. The term “metaverse” refers to the collective and long-lasting digital space made possible by VR and AR technology.

The world is embracing the virtual world, although it is still in its early stage. It also embraces decentralization and autonomy.

What are the real-life applications of Web3?

There are a lot of Web3 applications, and we’d discuss some in the article below to get a closer idea of Web3 use cases:

• Blockchain Applications: It has been implemented into several blockchain-related projects because of its uniqueness like great energy efficiency, user-driven governance, parachains, and parathreads. Other platforms include Pokadots, Uniswap, Aave, etc.
• Gaming platform: With Web3, there is an opportunity to implement play-to-earn models, connection to crypto wallets, and proof-solid security. e g., Axie infinity, Splinterland, Illuvium, etc.
• DeFi Apps: DeFi Apps operate a network that is open and decentralized. Users on this network do not operate a central authority to the legal owners of all data and services. Developers, traders, and liquidity providers work together in a free and open financial market.

• Web3 Domain and TLD: It has a major influence in the crypto-verse. It helps bring simplicity to the process involved in sending and receiving cryptocurrency using human-readable addresses. With Web3 domain and TLD users can also create a blockchain-based, decentralized, ad-free website. The strength of these websites is their anonymity and security.

You might want to check out Cloudname

Cloudname is the hub where you can choose to either sell or rent web3 domain names. There are also options to tokenize any domain name of your choice on the blockchain or win one when you play lotteries. The domain names up for grabs are of high value. There is also an option to earn passively by trading NFTs. Your journey into Web3 is just a step away.

Conclusion

Web3 use cases have proven that this model of the world wide web holds so many promises and strongholds in the future. It is a foundation for greater accomplishments on the world wide web. There are many benefits, one of which is decentralization and another, is anonymity. These two are most cherished among users on the internet.