Bitcasino World Cup Raffle Campaign - Win the VIP World Football Championship Experience
464
views

Unstoppable Domains – A Beginner’s Guide

Unstoppable Domains are an intriguing and unique new option that is gaining traction in the crypto industry as more people become aware of them. Even though you may be inclined to dismiss them as simply another “crypto craze,” you may not want to be so hasty in your judgment.

Whether you have your wallet or just learning about crypto, unstoppable domains have some unique advantages that you might consider utilizing for your website.

This post will go over all you need to know about unstoppable domains in great detail.

A Bridge between Web2 and Web3

“Unstoppable Domains” is a startup from San Francisco that dreams of bridging the gap between Web2 and Web3 via blockchain domains and other technologies. 

When you use an unstoppable domain, you can generate a blockchain-connected web address that looks very similar to a URL (e.g., Yourname.crypto). This converts a wallet address into a more straightforward and easily rememberable domain name. Your domain will be connected to decentralized applications (dApps) and crypto exchanges. 

Transacting with Bitcoin and other cryptocurrencies on the internet is simpler with these unstoppable domains. In other words, we are talking about a technology providing readable web addresses that take away the necessity to know a recipient’s public key address. 

Suppose you consider that this address is, in general, a bulky and lengthy string of letters and digits. In that case, the advantage of unstoppable domains is clear.

Unstoppable domains enable you to develop and upload decentralized websites to the InterPlanetary File System (IPFS), a distributed file storage and peer-to-peer sharing system. 

When you purchase and register an unstoppable domain, you gain complete ownership over its name for life unless you sell it. Most importantly, you do not enjoy the same benefits when using standard online domain providers.

Understanding the Benefits of This Technology

If we had to list the main advantages of Unstoppable Domains, we could name at least the following three:

  • No censorship: Because they are built on the blockchain, domains registered with Unstoppable Domains are resistant to arbitrary takedowns or geographic blocking. On Unstoppable Domains, content that is considered controversial, such as activism, may be hosted in a safe and secure environment. Furthermore, no one can take down or undermine an Unstoppable Domains website, unless a corporation, state, or group owns it.
  • Complete ownership: In contrast to specific domains you rent, a domain from Unstoppable Domains is yours for the rest of your life. As a result, you have complete control over your domain name. You are free to sell or trade it without requiring a middleman or authority to approve the transaction.
  • Easy payments: When transmitting or receiving cryptocurrencies, you no longer have to deal with complicated wallet addresses that are difficult to remember. Inform the sender of the domain associated with the address used without the need to share an extended, complex code.

Alternatively, suppose you want to resell your domain. In that case, you may indicate that it is for sale and include a contact address next to it. For example, you can put your domain on sale on OpenSea (or other similar platforms). If you choose this path, a domain name becomes a digital collectible – like an NFT.

The Technology Making Unstoppable Domains Possible

Unstoppable Domains is based on the Crypto Name Service (CNS). This is a collection of Ethereum smart contracts that govern the creation and use of blockchain domains. ERC-721 tokens, also called NFTs, represent every CNS domain. 

Unlike other tokens, NFTs are original and indivisible and frequently depict one-of-a-kind digital objects. The adoption of the ERC-721 standard makes it simple for developers to connect unstoppable domains with other services. This allows customers to handle their crypto domain registration from any cryptocurrency wallet, exchange, or marketplace. 

The CNS uses two smart contracts: the Registry contract and the Resolver contract, working together to solve issues. The Registry contract is responsible for creating new crypto domains, subdomains, and the management of domain ownership. 

The Registry contract does not include an administrator. This means that no party, not even Unstoppable Domains, can administer or transfer your domains without your consent.

Resolver contracts are useful for various tasks, including resolving domain names. Also, they help convert the human-readable name into a bitcoin address, and maintain domain records.

External addresses and smart contracts can hold domains. This implies that a multi-signature wallet or a team of administrators blockchain can administer domains.

Final Thoughts

Unstoppable Domains currently mentions over 2.2 million registered domains and the support of more than 275 coins/tokens. The system supports several web browsers and is compatible with nearly 200 dApps.

Bitcoin live price
Btc
Bitcoin
$19.266
price
1.1051%
price change
BUY NOW

Creating this new domain type represents another innovation made possible by blockchain technology. The market supports this instrument, and we will see how standard Web2 domain providers will react.

Stay up to date with our latest articles

More posts

CryptoCompare Review – The Power of Crypto Data in a Comprehensive Platform

CryptoCompare is very proud of how good its statistics are and how much ground it covers in the crypto world. The technology and API of the project want to make sure that its infrastructure is safe. The platform wants to give both individual and institutional investors access to information that will help them better manage their investment portfolios. CryptoCompare guarantees the accuracy of its data and follows the strictest rules.  The initiative conducts frequent audits of crypto exchanges and is…

Bitsgap Review – Investing in Crypto with a Comprehensive Trading Bot Set

Founded in 2018, Bitsgap went live with the emergence of the cryptocurrency trading bot sector. There was a substantial surge in the number of persons investing in crypto as the general public learned about cryptocurrencies. Institutional investors typically employ automated strategies in the traditional financial market. With the help of Bitsgap, small crypto investors too can introduce automated trading strategies into their wallets. Today’s review will list the main features of Bitsgap to provide you with the key details you…

Argentina Goes After Crypto Wallets of Non-compliant Taxpayers

The Argentinian government has ordered the seizure of 1,269 cryptocurrency wallets of taxpayers with outstanding debt obligations, according to iProUP. The announcement comes after the country’s Federal Administration of Public Income outlined plans to crack down on cryptocurrency wallets of the tax evaders in May. The regulator also ordered the digital assets exchanges and crypto firms to submit monthly user reports. Crypto service providers are now required to run KYC processes and maintain a register of their users. The companies…

El Salvador Buys the Dip; Adds 80 BTC to Its Balance Sheet

El Salvador, the first country to make Bitcoin (BTC) legal tender, has purchased an additional 80 BTC. The country’s president, Nayib Bukele, announced via Twitter earlier today. According to him, the Salvadoran government bought the tokens at an average price of $19,000. This means the government spent around $1.52 million on this purchase. [embed]https://twitter.com/nayibbukele/status/1542672286490271744?s=21&t=tNewbes_XFcRtaHCIDnHdg[/embed] This news comes on the heels of Bukele announcing the purchase of another 500 BTC on May 9. This purchase brought El Salvador’s BTC holdings 2,301…

SEC Rejects Grayscale’s Spot Bitcoin ETF Application

Grayscale has failed to convince the Securities and Exchange Commission (SEC) to accept its spot Bitcoin ETF application. Following months of negotiations and campaigning to kindly persuade regulators, the fund will now take legal action against the commission. Why the Rejection? According to the SEC’s filing on Wednesday, Grayscale failed to prove that its product could protect investors, or prevent market manipulation. “As the Commission has explained, an exchange that lists bitcoin-based ETPs12 can meet its obligations…  by demonstrating that…

OpenSea Warns Users of Attacks Due to Data Breach

NFT marketplace OpenSea informed its users of possible phishing attacks, following a data breach exposing customer emails. Notably, the company has been at the center of attacks and controversies in recent months.  Concerns over Customer Security Open Sea in a blog post revealed that an employee of Customer.io, OpenSea’s email vendor, abused their privileges. The errant employee downloaded and shared customer data with an authorized third party.  In light of the development, OpenSea warned its customers of the potential vulnerability…

Researchers Claim N. Korea is Likely Behind 100M Horizon Attack

North Korean state-backed hackers were likely behind the latest crypto attack that saw Horizon lose approximately $100 million. CNBC reported earlier today, citing analysis from blockchain researchers Elliptic and Chainalysis. Per Elliptic, there are strong indications that Lazarus Group was behind the attack. The company added that the Horizon attacker converted most of the stolen funds into Ether (ETH). Following the exploit, the hacker’s address held 85,867.25 ETH. Elliptic claims that the hacker started laundering the funds through Tornado Cash,…

TradeSanta Review – A Solution to Automate All Your Crypto Investments

Trading techniques are easy to automate using TradeSanta, a cloud-based software platform.  Plug-and-play, active Telegram community and round-the-clock customer assistance are features of the system. In order to give you a rough understanding of how this system operates, we'll focus on the platform's most essential aspects in our review below. What Is TradeSanta? A crypto trading platform for automatic trading, TradeSanta launched in 2017 and is now available to everyone willing to automate their crypto investments.  A social trading marketplace…

CoinFLEX CEO Postpones Plans to Lift Withdrawal Freeze

CoinFLEX CEO Mark Lamb has pushed back plans to resume withdrawals at his exchange on Thursday. The company must first wait to complete its fundraising process, which Lamb claims is making significant progress. The CoinFLEX Debacle Speaking with MarketWatch on Wednesday, Lamb said that his exchange has been discussing his insolvency problem with distressed debt funds. He is attempting to bring them onboard his novel yet controversial token sale solution, alongside existing customers and investors. As CoinFLEX explained on Monday,…

Three Arrows Capital Falls Into Liquidation Amid Worsening Bear Market

Leading crypto hedge fund Three Arrows Capital (3AC) has fallen into liquidation. Sky News reported today, citing a person with direct knowledge of the matter. The source requested to remain anonymous because they do not have the clearance to discuss the matter publicly. According to the source, a British Virgin Islands court ordered the liquidation. Partners of New York-based Teneo Restructuring will handle the company’s insolvency, the source added. The restructuring company is, however, in the early stages of the…