Blockchain domains are an exciting development in the decentralized world. They have the power to change the way we think about domains and online real estate, and they add a new layer of transparency, functionality, and security.
What are the use cases of blockchain domains?
Blockchain domains have two unique use cases:
1. Replace cryptocurrency addresses with human-readable names.
Right now paying someone is like this – ask for their cryptocurrency address, they go into their wallet and copy an address, they paste it into an email, send it to you, you open the email, copy/paste the address into your wallet, and pay.
With a blockchain domain name, it is like this – Attach your cryptocurrency addresses to your domain, and tell your friend to pay by typing in yourname.crypto.
2. Enable censorship-resistant websites
Blockchain domains can be used to build censorship-resistant websites. Traditional domain assets are stored on your behalf by custodians like Godaddy and Google Domains. But a blockchain domain is stored in your cryptocurrency wallet and controlled by you so no company or court order can take it.
The history of blockchain domains goes back to the early days of cryptocurrency. One of the first crypto platforms was called Namecoin, and it was built so users could register their own domain names on Bitcoin. However, in the pre-smart contract world, the functionality of this platform was limited.
In today’s world, with smart contracts and the ability to express complex relationships, the potential for blockchain domains is much more exciting.
How do blockchain domains work?
Blockchain domains aren’t stored on a server. They’re held in the public registry, on publicly accessible blockchains.
This means anyone can look at the records, providing an impressive level of openness and transparency. On top of that, users can benefit from enhanced security — each user holds the permissions to make updates to their domain name, which minimizes worries about servers getting hacked or domain names getting stolen.
Where do blockchain domains exist?
Blockchain domains exist on the decentralized web. Right now, blockchain domains are mainly being used by crypto users and blockchain enthusiasts who want to get a head start with the technology and access its benefits when it comes to sharing crypto.
People who are active and well-known in the crypto and blockchain space are also getting domains, in the same way that any high-profile figure in the off-chain world would want their own traditional .com domain.
And there are also lots of people using blockchain domains simply to learn about the space and get involved in decentralized technology in a more hands-on way.
You can buy a domain with Unstoppable Domains, and unlike traditional domains, there is no renewal fee.
Once you purchase your chosen domain, it’s yours forever.