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Who would have thought so many possibilities and capabilities could exist to explore with domains? We all perceived this technology solely for hosting websites that cannot be bought but rented from centralized domain services providers.
Moreover, remember when cryptocurrency was new, you ignored it because you thought it was just crazy fantasy and stuff, but now you're regretting it? The point here is technology is advancing with inventions we never envisaged.
We can't change the past or the future, but at least we can mold the latter. Why make the same mistake of presuming technology a fiction when everything unimaginable is becoming a reality?
Similarly, domains previously only considered for hosting websites now have a far deeper and broader usage than traditional ones due to the invention of blockchain and cryptocurrency technology that led to the creation of Crypto Domains.
So, here's a FAQ guide on how Crypto Domains have altered mankind's perception of domains and how you may avoid making the same mistake you did with cryptocurrency!
What are Crypto Domains?
Crypto Domains are not a replacement but the next generation of traditional domains with multiple functionalities rather than website-only domains. These domains are based on NFT technology, are stored on Blockchain, and are powered by Smart Contracts.
Crypto Domains are also called NFT Domains, Web3 Domains, Blockchain Domains, or Decentralized Domains. The name may be whatever; the purpose, functionality, and capability stay the same.
These are essentially the same as traditional domains, but instead of communicating to an Internet Protocol IP address, they communicate to and replace crypto addresses on blockchain technology.
Buyers can acquire these names from Crypto Domain Service Providers such as Unstoppable Domains, Quik Domains, ENS Domains, etc. Following the purchase, the service provider produces an NFT for the Crypto Domain, which is then transferred to the buyer’s wallet.
Crypto Domains are ideally built for the entire blockchain system and its decentralized technology from Web3, the Metaverse, NFT, Cryptocurrency, dApps dGames, etc.
- It can redirect a website hosted on a blockchain or the traditional Internet using browser extension or plugins.
- It can connect metaverse accessories, properties, and so on, culminating in a personalized experience.
- It can be used as a metaverse digital identity representing the user in the parallel universe.
- It can be used to store or connect NFTs, as well as to improve their properties.
- It can be used for storing cryptocurrencies and exchanges easily without typos owing to its personalized naming system.
- It can be used to launch dApps and hosting services based on the Web3 ecosystem.
- It can connect to decentralized Web3 games and hosting services, create communities without any fear of centralized regulations, and operate anyway.
- It can be a user's digital identity throughout the Web3 ecosystem and decentralized gaming sector.
With many more functions yet to be explored, it possesses a limitless possibility and a key feature for producing and enhancing interoperability in the decentralized Web3 ecosystem.
However, the primary goal of Crypto Domains is to convert alphanumeric crypto wallet addresses with human-readable names.
Users' blockchain addresses or usernames allow them to log in through blockchain features and apps in the same way that email addresses allow you to log in through numerous Web2 platforms, such as social networking.
However, malicious actors and brand abusers, on the other hand, have discovered lucrative uses for the Blockchain. They can now use the domains to host malicious content without fear of being shut down or restricted by censorship regulations.
But that is exactly the purpose of blockchain technology. Since Web3 is all about decentralized anonymity, it is incompatible with centralized Web2 and an open platform for all because it is all about decentralized anonymity.
Crypto Domains have the same decentralized anonymity feature, allowing anyone to purchase any domain and then host any website or content completely censorship resistant.
As these domains are not held on a centralized server but on Blockchain, a public ledger or public registry available to everyone, anyone can join and create Crypto Domains pseudo-anonymously and get secured using a smart contract like NFTs.
Furthermore, once a domain is minted, it is permanently stored in the minter's crypto wallet. Because there are no renewal fees, the minters own a domain in perpetuity and can sell, exchange, or trade it at any moment.
Unlike traditional domains purchased through an internet registrar using the ICANN-regulated DNS System, Crypto Domains are not managed by any centralized authority, making them decentralized and resistant to any rules imposed by the centralized servers.
Crypto Domains are free of rules, supervision, and government control, which means there are no standardized criteria and no uniform architecture among competing blockchains nor any centralized body such as ICANN, proving its anonymity claims.
Brands that are safeguarding their brand names on significant blockchains, which is a good, economical, and safe technique they may use. Nevertheless, in the blockchain realm, most brand names have already been reserved, and brands trying to get in on the activity find that cyber squatters have taken their identities.
Since registrants are anonymous and there is no legal reclaim mechanism, marketers are still determining how to bargain with the owner, posing a risk of big brand names being tied to unlawful wallets.
Brands are at a threat once web3 becomes commonplace, and since it is still in its early stages, brands should act quickly to secure their names with other extensions. Many firms are now promoting on Web3 in addition to Web2, but there is still time for it to gain traction.
Web3 investors prefer a decentralized, permissionless environment. They also want their world to thrive, so having significant brands on major blockchains will lend legitimacy and trust among users leading to wider space adaption.
Although obtaining some branded trademarks is not a trivial feat, which we will explore further, this was just one unfavorable gist to help you grasp the drawbacks; read further to learn the legislation in detail.
We hope you now have a decent grasp on Crypto Domains. However, it is a new technology that will take some time to comprehend, so we have developed this FAQ article to assist you in thoroughly understanding all of the good and negative factors before shooting your shot.
Crypto Domains & Blockchain Theory
Blockchain is a prolonged progressive collection of blocks that hold all the information and is constructed according to a protocol. It is comparable to a database in which people collaborate to develop a unified network.
The data is stored in a single location in a classic centralized database. Since blockchain is a decentralized system in which each participant or node has a copy of all records, the data in the blockchain is kept across multiple node networks.
Every block in the blockchain comprises a timestamp, transaction data, and the previous block's cryptographic hash. Since each block carries information about the preceding one, it forms a chain, with each subsequent block relating to the previous one.
Blockchain is resistant to data changes; once recorded, the data in a block cannot be updated without affecting all prior blocks. If any blocks were altered, the change would be immediately identified because the computed hash no longer matched the initial hash, and the block will fail verification.
The nodes that allow the system to function are the blockchain's core components. The term node means any gadget or a system that validates and stores the entire history of transactions, like a computer.
Anyone can create a node by installing the blockchain protocol software on any computer. Most miners have nodes since they confirm transactions using the same protocols and software.
Generally, all nodes constitute a peer-to-peer network in which each node has a copy of the blockchain, and data exchange occurs without a central server. The blockchain network is analogous to software, handled by several nodes rather than a centralized server.
Anyone can join the network by contacting one of the nodes, obtaining information from the blockchain, or carrying out a transaction. Every wallet on the Ethereum blockchain has a unique 42-character alphanumeric address that begins with "0x," such as 0xoejfu47eysgc82290sj23jsy3uw91omzhdbc638h.
Cryptocurrency is the public address required for transferring a token to the wallet or transferring payments and issuing authorization via a smart contract. The owner must know the address's private key to access funds and rights.
Like an IP address, the wallet address is excessively long and hard to use. It is where Crypto Domains come in, as they allow for registering a human-readable domain name and mapping it to the linked machine-readable alphanumeric address.
The mapping of Crypto Domains to wallet addresses technology is being actively brought into the world of Web3 owing to traditional domain name usage. Another important integrated support Crypto Domains has is browser extensions allowing users to host decentralized websites. Still, to access them, the extension or plugin must be installed in their system.
Now that you thoroughly grasp Crypto Domains, their underlying technology, and how they work, let us delve deeper into understanding the concept of traditional domains and why the need for Crypto Domains arose.
Are Traditional Domains unsafe?
Due to their decentralized nature, Crypto Domains are safe, independent, and user-focused. They are extremely difficult to hack or attack unless the owner loses possession of the wallet, which is a rare occurrence.
However, classifying traditional domains as unsafe is entirely up to you, as we will walk you through a few criteria to give you a clear grasp of traditional domains.
As stated in the prior chapter, every website on web2, including the one we currently use, is allocated an IP address, which is the server's location where the website data is stored.
Because numeric characters are difficult for humans to remember when remembering a website or its content, they were replaced with human-readable, simple domains. They could also connect a website's content or describe a brand by its formal title rather than a number.
So, today, when you enter a domain name into the browser, it is routed to the DNS server, which resolves it into its IP address, and it is then routed to the web server, which downloads the files stored on the IP address, which is the way you visit different web sites on the Internet.
This is equivalent to how blockchain and Crypto Domains function but much more decentralized. Before we proceed, let's look at some factors driving most users away from traditional domains and toward Crypto Domains.
Traditional Domains can be censored, brought down, or banned!
All traditional domains are regulated by ICANN, which is the Internet Corporation for Assigned Names and Numbers, and the organization also has the authority to cease or take over any domain if it infringes any of its rules or censorship boundaries, as we will discuss this in detail in the laws and regulations section below.
Traditional Domains do not come with ownership rights!
You do not own your domain in the traditional domains section, even if you host or have website custody. You are technically renting a domain name that can be restricted or taken down at any time, and the rent varies depending on how many months and years you are prepared to hold the domain name.
This means you can never be the rightful proprietor of a personal or business website. You're merely renting it with several limits that will do nothing but restrict your imagination and innovation.
Traditional Domains follow only one rule!
ICANN is the centralized service in charge of managing, regulating, and controlling the whole traditional domain system (DNS), which implies it has a single point of failure. It is the single owner of all Internet domains.
Since ICANN is a single-point control, if it is hacked or undergoes extensive maintenance, millions of registered websites will be compromised and scrutinized for hours.
Everything we've discussed in this chapter has been about how unsafe it is to use traditional domains. Even though millions of people are aware of it, they continue to purchase these as there is still time for Web3 to become commonplace.
Crypto Domains are decentralized and safe. Furthermore, it includes complete ownership, meaning you own it perpetually once purchased, with no renewals or subscriptions.
You may have a better understanding of whether traditional domains are unsafe. Yet, given the Web3 area itself is not characterized, it will take some time for Crypto Domains to become included in our everyday online activity.
Are Crypto Domains replacing Traditional Domains?
Crypto Domains are a better choice for those tired of centralized regulations restricting their ability to experiment with technology, host content freely, and have autonomous control over their data.
Traditional services are so centralized that we don't even own our data, and website ownership exists on another level. This creates a highly dangerous environment. For example, if your Instagram account is permanently blocked, you will never be able to obtain even a little amount of data from it; why?
Because Instagram and other similar apps own and manage your data, not you, even though you produced and posted it.
This is completely abolished in Crypto Domains since your data is your personal property and all management, ownership, and control rights. The primary distinction between traditional and crypto domains is that one is rented while the other is owned permanently by the user!
Crypto Domains are easy-to-remember addresses that are used to replace complex crypto addresses. The next section will cover Crypto Domain features and other capabilities, so let us focus on the characteristics that distinguish it from traditional domains.
Here are some characteristics of Crypto Domains that distinguish them from Conventional Domains and a better-upgraded version:
Wallet Addresses are far more complex than IP addresses!
IP addresses are 9-15 numeric characters long, whereas crypto addresses are 42-character long alphanumeric strings, making them much more difficult to memorize.
Blockchain technology has a bright future and will soon be a necessary component of the future. It necessitated the creation of its domain system to make it more human-friendly, thus introducing Crypto Domains.
Several instances of incorrect transactions occur due to typos; therefore, obtaining a Crypto Domains simplifies things by replacing all errors with a human-readable domain name that can be remembered and written without hesitation.
Furthermore, these domains support a variety of cryptocurrencies, blockchains, and wallets, allowing for simple integrations regardless of your system, source, or resource.
You can easily accept payment, host websites, link digital NFTs to your Crypto Domains, and even sell, trade, and transfer them because you own it, and you can do whatever with it, as this is what decentralized freedom is all about.
Crypto Domains are not liable to any censorship!
Traditional domains are regulated by ICANN, which has imposed several regulations and restrictions on them. This segment has been explored in depth below, but here's a quick summary. Crypto Domains are immune to centralized censorship since they exist on the blockchain rather than on centralized servers.
If you host any content using a Crypto Domain, no one may interfere with the usage, content, or whatever you do with the domain name, but make sure it does not breach any trademark rights, as a rule, is yet to come and we cannot be certain to settle on any claim.
Everything you need to know about censorship, ownership, legislation, and trademarks is covered below.
Login with your data!
It sounds too good to be true, but yes, it's the truth. Crypto Domains allows you to save and load your data and preferences in a single profile. All you have to do is connect your Crypto Domain to any application or decentralized website, and all your information will be tagged along and integrated.
This eliminates the function of uploading information every time you log in to any program, which is undoubtedly a major nuisance for the centralized servers and all the applications each user encounters.
You may also use Crypto Domains to build a digital reputation that, unlike the traditional web, where you have several personas, or every other website, such as different on LinkedIn and extremely different on Instagram, you can now have only one profile and one reputation on Web3.
Crypto Domains are one-time investments!
Traditional domains are registered using a subscription mechanism. They are renewed on an annual or significant package basis, making them rented and not giving you much flexibility with the usage or utilization of the domain name.
As previously stated, Crypto Domains are a one-time investment. When a user mints or buys a Crypto Domain, it is permanently transferred to the user's wallet without any subscription. This means you don't have to pay renewal fees or extra commissions, which are typical with traditional domains.
Traditional domains are subject to nuInternetommission tiers before being registered by the user. Still, Crypto Domains are supplied via platforms such as Unstoppable DoBlockchainuick Domains and are directly sent to the customer's wallet without the participation of a third party.
Furthermore, once the transfer is complete, no Unstoppable Domains or Quick Domains may interfere with the use or employment of the Crypto Domain because it removes all roles once it is transferred to the user's wallet.
You can launch autonomous websites!
Traditional domains cannot be used to host an autonomous website or decentralized content since they are constantly monitored and logged by the centralized server, which also can shut down your website at any time.
Crypto Domains enable the hosting of decentralized websites with autonomous content free of censorship or monitoring. You are the sole owner and complete responsibility for the website you create and the content you publish, which standard domains significantly lack.
Sell, Buy, Exchange Crypto Domain Anytime, Anyhow!
All of your Crypto Domains can be quickly bought or sold without the need for any documents or permission. If the name is accessible, mint it and use it; that's how simple it gets. Furthermore, these domains may be resold at any price, which is a creative approach to make some extra money.
The best thing is that you can establish as many subdomains as you want and advertise them for sale, which turns into a passive income source where you can charge whatever you want. You may buy and sell these names on Crypto Domain Marketplaces.
Now that we've covered all of the useful properties and possibilities of Crypto Domains, let's look at the downsides. It is always a risky business to engage in without knowing the negative effects of any technology.
We recommend and advocate studying the positive and negative elements before making any decision in technology, which is a wise way of deciding and undoubtedly makes the decision much easier and less regrettable.
Here are some disadvantages of Crypto Domains that you should be aware of before purchasing one:
Blockchain might get terminated!
This is one of the primary threats to the Crypto Domain because if the blockchain connected with the domain is terminated, the crypto domain will vanish. But, it is not easy for a blockchain to terminate, particularly top gunners.
For example, suppose your Crypto Domain is built on the Ethereum Blockchain and terminated in the future. In that case, all your domains and any other domains on the blockchain will be withdrawn and terminated.
Crypto Domains only support limited browsers!
Crypto Domains are currently supported by a few web browsers or extensions, making them available to a small audience for now. Still, it will take several years to fully integrate into the normal routine, depending on you, readers.
Individuals who want to use Chrome or another browser to browse Crypto Domain enhanced websites can download or install extensions and then use them. Furthermore, Google only acknowledges domains that host websites using traditional domains.
Because Crypto Domains are employed on the blockchain, Google has yet to index them. Crypto Domains are not intended for creating complex SEO-friendly websites. However, users can now generate HTML pages.
Domain collision is sure to happen!
Domain collision is a major issue that affects not just Crypto Domain and other providers but also the traditional domain name system, the Internet Corporation for Assigned Names and Numbers (ICANN), and other domain-related services.
Below is everything you need to know about Crypto Domain collision, but here’s a small gist.
There are currently multiple domain extensions or TLDs available. Since there is no single owner or controller of decentralized technology and Crypto Domains, one provider can offer the same TLD, such as myname-dot-metaverse, available on one platform and another, resulting in a domain conflict.
ICANN has anticipated this. However, traditional domain and Crypto Domain collision are traceable due to technological advances and various TLDs; several service providers already hold the trademarked or licensed names to avoid any legal complicacy.
That being said, Crypto Domains provide modest and decentralized benefits that effects all rather than personal or single individuals.
Unlike regular domains, which manage your data and other activities and sell them to other businesses and advertising, Crypto Domains are decentralized because the user is the sole owner and controller of what happens with the domain.
But now that you know the probable negative repercussions of Crypto Domains, you must have a clear set of mind to be ready for the consequences, which are on a public level and appropriate, which means that if something happens, it happens to everyone.
That's not something to be proud of, but it does provide some comfort; after all, it's only me, and you are reading this right now, so let's be honest! However, the weight of the advantages of Crypto Domains far outweighs the cons, and it is something you should appreciate.
Now let's look at the Crypto Domain craze and how users and high-profile's are responding to it. This will help you comprehend the current users in this field, their numbers, and why Crypto Domains are coined as the next big thing in technology.
Crypto Fandom: Growth of the next big thing
Crypto Domains are touted as the future of decentralized, permissionless websites and a potential universal login for everything in the Web3. As previously explained, Crypto Domains are currently employed as a legible alternative to Crypto addresses.
This technology, on the other hand, can be tailored to any decentralized application. As web3 technology advances, we will have even more opportunities to explore the immense potential of Crypto Domains.
Numerous high-profile individuals have embraced the Crypto Domain trend and become members of the Crypto Fandom. How are they adapting to it? Most of them, including Jimmy Fallon, Paris Hilton, Vitalik Buterin, Trey Songz, and others, have joined following the Twitter Crypto Domain trend.
Furthermore, most Crypto Domains aficionados are more enthused and demand three-four letter domain names due to their restricted quantity, making them difficult to obtain and pricey.
It is comparable to the domain name mania that occurred during the early days of the internet. Crypto domains with fewer characters are easier to read, remember, search for, and spell, and this process is likely to be applied to all domains, not only crypto domains.
However, the Crypto Domain obsession is not what it was in the 1990s, as users are excited about gaining the top ones. These domains come with eternal ownership feature names; users are highly excited about Crypto Domain names such as 123-dot-metaverse.
Many three-digit Crypto Domains sell for more than 10ETH more or less depending on the trait, which is almost $17,000, and the one we described above is for 100ETH.
Some folks buy Crypto Domains for the value of the name and its potential impact on the future and are minting names depending on geography, history, and current trends.
Why are users spending hundreds of thousands of dollars for a name? Because they recognize the possibilities it carries as it opens the door to Web3, blockchain, and the broader decentralized environment, as well as its future avenues.
It is more than a social media display; it explains the user's love for technology and its early adoption. But, for those in the NFT fandom, if you have an NFT with a character name or number, that is simply the passion portion.
You can construct a Crypto Domain and tie it to the NFT, which enhances it even more because you are selling not only the Crypto Domain but also an NFT, which boosts its worth and possibility for sale in the first place and makes it attractive and useful instead of simply storing it as an asset.
Users are more convinced of its ability to solve cryptocurrency transactions. However, such flashy things could easily entice most of the crowd to obtain their customized Crypto Domains and link to their social media handles.
Some Crypto Domain owners are also selling their subdomains, such as creating a subdomain of 123-dot-metaverse that looks like 123-dot-123-dot-metaverse. This has also been quite successful for individuals who were unable to receive the first one but were able to obtain what they desired.
Big brands have already come on board, registering their branded Crypto Domains or brand-specific Crypto Domains. Coca-Cola and Budweiser are two well-known companies already moving forward in this field.
Companies can also monetize by developing sub-domains or issuing them to loyal customers. Furthermore, it is a good source of branding since when consumers purchase their product or service, they can access the brand's subdomain (just created a marketing strategy).
For example, if you purchase a product, you can create a subdomain Crypto Domain name. Mining subdomains will undoubtedly be an important component for businesses in Web3, as it may allow them to issue subdomains or season tickets, which can subsequently be resold or rotated on the market, giving it an everlasting worth.
Numerous applications can be performed with Crypto Domains. Once a domain is purchased, the holder can construct infinite subdomains for any particular purpose.
Crypto Domains are imperative for individuals traversing the Web3 space and organizations investigating Web3 technology, applications, and games. Anthony Hopkins, a well-known actor, reserved the rights to his identity with the dot-eth TLD.
Some celebrities, including Paris Hilton and Shaquille O'Neill, followed this trend. But, as time passes, other use cases and applications that can be implemented with Web2 and augment Crypto Domains, such as the social media explosion, have emerged.
As Web3 expands, there will inevitably be a need for solutions for accessing and utilizing blockchain technology, and these solutions include Crypto Domains. There is competition from blockchains such as the Solana protocol, which allows users to acquire the dot-sol domain name.
As competition increases, growth and adoption will increase and be infused accordingly. All humanity has left to witness are some unexpected turns, which we should not be surprised by because the unexpected is already becoming a reality.
Are Crypto Domains expensive?
The value of crypto domains has increased dramatically owing to their popularity and how people have adapted to the above social media patterns. Most domains start at $5, while others sell for substantially more on secondary markets.
Crypto Domains have existed since the introduction of Bitcoin and Blockchain technology. Yet, in the early days of cryptocurrency, the number of applications for a crypto domain was limited due to the technology underpinning it.
Cryptocurrency was not yet regarded as a legitimate means of exchange, and the concept did not catch on until the emergence of smart-contract-enabled platforms such as Ethereum, which was followed by the necessity for Crypto Domains for communication with humans.
Crypto Domains were initially traded among early crypto fans and insiders. Their viability was recognized by firms seeking equivalent profits early as domain squatters as they did during the dot com boom.
Crypto Domains are mostly inexpensive or expensive, depending on the standpoint, because they are a one-time purchase that does not require renewal, which makes sense given the price.
A traditional domain may cost the same or even higher, but you must pay annual renewal fees that total the same amount, which is not the case in Crypto Domains.
However, Budweiser paid $95,000 for the beer-dot-eth Crypto Domain and $90,000 for the sex-dot-crypto Crypto Domain, and both are worth more than $600,000, which is remarkable.
Despite these higher costs, certain Crypto Domains are quite reasonable, with over 350,000+ Crypto Domains each selling for a price less than 0.01 ETH, making the market extremely appealing for novice investors looking to profit from domain purchases.
The majority of six-character-long Crypto Domains were massive market-turning blocks. Nonetheless, these figures are eclipsed by the amounts spent on regular dot-com names, as the domain sushi-dot-com was bought for $1.9 million in 2021 and isn't even permanent.
This is still much lower than the biggest dot-come acquisition of CarInsurance-dot-com, which has been sold for $49.7 million.
Traditional domains and Crypto Domains share comparable pricing with no significant difference, but what distinguishes them is the attributes they possess, which you might have understood so far. If not, continue with us as we explore more on Crypto Domains in this FAQ article.
Some speculative investors remain optimistic about the market, predicting that it will take several years before Crypto Domains are appreciated at the same level as traditional domains. Still, a major driver to the Crypto domain mass adoption will be its utility features which we will discuss in the next segment.
However, many browsers, such as Google Chrome, still do not support using Crypto Domains, but they indirectly buy inserting extensions. Continue reading as we explore every segment in detail.
The cryptocurrency and NFT markets are also key contributors to the growth and use of Crypto Domains. Investors and speculators have been buying prominent Crypto domain names as financially valuable investments because they feel it will be a huge deal in the blockchain sphere, alongside cryptocurrencies and NFTs.
Companies should start taking Web3 and Crypto Domains seriously and acquire their linked brand Crypto Domains, as once an unidentified bidder bid $1 million for Amazon-dot-eth, which came after bids for Samsung-dot-eth and Starbucks-dot-eth being sold for 60ETH.
This activity is similar to domain squatters during the dot-com boom when speculators would hoard famous keywords and brands in the hopes of flipping them for a profit. For example, an address that owns Nike-dot-eth also owns 131 Crypto domain names like SInterneteth, Strawberry-dot-eth, Coca-dot-eth, etc.
Some are pricey, others are reasonable, and some are in the middle, but it all relies on the trait a Crypto domain possesses. If it is a well-known brand name, it will almost certainly have a larger demand and a higher price.
However, the limitation and exclusivity of Crypto domains apply only to non-branded names. Now that you know the cost and affordability of Crypto Domains, you can see that they are incredibly reasonable and also reliable because you own these domains forever.
Traditional domains have renewal fees and subscriptions, so you would pay $100,000 for a traditional domain and its annual renewal expenses, which sounds expensive and rented.
Crypto Domains with five or fewer characters are always more expensive with alphanumeric, alphabetic, and numeric domain traits and have a better chance of being sold. Why? These domain names are simple to remember, spell, search for, and type.
It's not that larger character domains aren't sold or posted for sale. Still, it all depends on the quality in terms of length, meaning, and how easy it is for people to pronounce, remember, and spell and most users want something simple.
If you notice that major brands have four, three, or five-character lengthy brand names, this is because a short and simple name is an exquisite choice for hosting a website or building an identity. There are brands with long names, but it relies on the brand and its impact; this is where the domain name rules do not play a role.
When a brand's Crypto Domain is easy for customers to remember and pronounce and closely resembles its content, it is a perfect match. Holding or minting domains with more than five words relies on various factors, including how limited the combination of words used is, with a maximum of two we recommend.
Several users are minting Crypto Domains based on trends. Suppose a collection (QUIK) is trending; users would likely opt for something linked with it and mint Crypto Domains such as Quikmike-dot-metaverse, etc.
We recommend buying a Crypto Domain (if you don't have a reason) with a broader approach rather than focusing on a specific local audience while striving for a trend, which implies focusing on a greater geographic and genre-specific domain to mint.
This expands the scope of the Crypto domain and simplifies the process for you to use and eventually sell it in the market.
Selling and purchasing Crypto Domains for personal use must connect, associate, and relate to the website's or wallet's service and objective, resulting in effective and creative teamwork between you, your Crypto Domains, and its objective.
To be explicit, we propose that you keep your Crypto Domain name character length between 3-7. You do not mint a Crypto Domain of your whole name and expect it to be offered for a higher value for people with flipping purposes rather than those with personal usage plans.
Crypto Domain's pricing is determined by its quality, as well as its demand, length, pronunciation, easy-to-remember quality, and other variables described above. If you're considering flipping Crypto Domains or launching a business, we hope this helped you find the best candidate for your portfolio.
Crypto Domains as an asset or a utility?
For emerging Web3 dApps, gaming, metaverse, DAOs, DeFi, and social media to have a secure and welcoming cosmos accessible to all, decentralized identity management and non-custodial wallets that can be seamlessly integrated into these digital ecosystems are necessary.
However, because of the 42-character long alphanumeric strings it uses for communication, these wallets can often make it difficult to remember as an ID. This is when Crypto Domains come in handy.
Crypto domain names have proven to be a game changer in this sector, leveraging human-readable names and simplifying the user experience by allowing users to store their tokens, digital assets, and other domains on their non-custodial wallets linked to these domains and easily interact with Web3 dApps.
Rather than copying and pasting the 42-character hexadecimal strong, Crypto Domains enable users to send tokens and connect using human-readable personalized Crypto Domain name addresses from their preferred crypto wallet.
Crypto Domains support a variety of digital wallets, including MetaMask, Moonpay, and others. These are not limited to Ethereum; other blockchains, including Solana and Binance, also support this technology, making it competitive as it can connect the entire decentralized ecosystem and its applications.
You may have understood by now that it is a utility, not merely an asset, that plays a critical part in the interoperability of Web3 and decentralized technology. However, here's an overview of the utility features that have drawn this trend ahead.
Content Creators can profit the most here!
Crypto Domains endorse permanent ownership of data, information, content, and everything a user owns, making it a major monetization source for content creators to monetize their work by directly communicating with their audience.
So, rather than relying on social media platforms for hosting and payment, users can use blockchain technology and publish or host their digital content on Web3 without censorship or other regulations using Crypto Domains.
This means that content creators are the only ones who can modify or eliminate the content, and centralized networks like Facebook, Instagram, or Twitter will be unable to eliminate their content or suspend their accounts owing to the decentralized properties of Crypto Domains.
Also, artists who host their content using Crypto Domains can control their data and statistics by themselves instead of being a product to profit from; they may someday charge tech businesses to see their user data and profit from it.
It is a profitable dose for content creators.
Companies now have a better way to work than following a centralized guideline!
Companies could also start publishing their web pages using Crypto Domains rather than traditional ones. Crypto Domains could help an online business avoid various concerns, such as the domain company regaining the website, being subject to the terms and conditions of a framework, or spending regular annual hosting fees.
It feels like it is made for artists!
Musicians have fought over intellectual property (IP) ownership from the early days of the Internet. They were frequently taken advantage of by other parties that took a share of their money as payment for "promoting" their music.
Crypto Domains are the platform for these artists as they provide an autonomous venue for musicians to promote, post, or distribute without any influence from external parties.
Artists can recover ownership of their music by using Crypto Domains owing to its NFT and smart contract mechanism by minting audio NFTs and communicating directly with fans.
By digitizing their work, artists can acquire more visibility and distinguish themselves from their peers. Painters can utilize the Crypto domain to exhibit, advertise, and market their creations in one place.
Furthermore, artists can accept funds directly from their Crypto domain, making the transaction frictionless for the artist and the consumer.
Artists can host their art galleries as NFTs and upload them on their Crypto Domains or create a gallery using one, monetize their work, and reach a mass audience space as it revolves globally.
Moreover, linking Crypto Domain to art will make it even better if you host an art gallery named art-dot-web3 and post your art as NFTs and could attach it to your Crypto Domain's subdomains such as future-art-dot-web3 attached to one and the other to another painting.
This would enhance it and increase the value owing to the attached subdomain.
Communities can finally host anonymous meetings!
Communities and boards could take advantage of robust and censorship-resistant discussions using Crypto Domains rather than relying on a centralized provider or being concerned about censorship.
This would also help them monitor and track their group independently and identify a bug that always happens, and people cannot identify it due to centralized limitations on modifications.
You can construct a decentralized, safe website by referring your domain name to a website hosted on a peer-to-peer platform such as IPFS. Since these websites do not operate on a centralized server, you are less likely to have a website outage or get bided by centralized regulations.
Everyone can now send Crypto payments in mere seconds!
Sending, exchanging, and transferring cryptocurrency has always been challenging to the wallet address's alphanumeric 42-character length.
What will you do if you're out and about and don't have access to your digital wallet and want a friend to send you some NFT? I have your number; I'll go home and copy/paste my wallet address and send it to you and then you can send me.
Huh! Why not connect it to your unique Crypto Domain? It will be much easier for you to remember this instead of doing the same thing repeatedly; tell your pals, "Hey, you can transfer me this NFT on Mike-dot-vr," and it's that simple.
You no more need to log in and create multiple accounts on multiple platforms!
It's so common in the world of Web 2, and we are so used to it that we don't even realize it is repeatedly happening unless for the ones who got their account banned.
Well, whenever you log in to any website or application, you have to create a new account or log in to an existing account where all your data get loaded up, right? But have you ever considered having a single account with all the information and logging in, and everything gets integrated automatically?
Also, have you ever signed up for a new website and discovered that the username you've always used is already taken? You must now add a random array of digits or fully alter your username. It just doesn't feel right. Your name is the foundation of your identity; why not in the internet world?
Crypto Domain solves both problems here, as your sole identity carries your entire digital reputation and data. Instead of one-for-one, it is now one for all, which means one identity for all platforms.
Once you connect your wallet using Crypto Domains, your data also tags along with you and gets integrated into the application, you are signing up with.
This will create a singular reputation and maintain the space with transparency; as mentioned earlier, not everyone is the same as they are on LinkedIn compared to their Instagram or Tinder accounts.
So now, wave farewell to the days of creating fresh user identities and passwords for every program or website. With your Crypto domain, you can easily and securely access Web2 and Web3 sites and apps with one log in for all.
Consider your Crypto domain your single sign-on, similar to Google Login, but superior because you genuinely control it.
You have complete control over your data and may grant explicit permission for every platform. Now, the platform you log in to does not control you anymore; you control everything thanks to Crypto Domains & Web3.
Let your web2 peers know about your Web3 endeavor!
You can easily create a universal profile page using your Crypto Domains and link it to your social media accounts so your followers may recognize you on all platforms.
You can connect and authenticate your Twitter, Reddit, YouTube, Discord, and Telegram accounts to your Crypto Domain and add other information where users can identify your presence and connect with you everywhere.
This means that your followers, friends, and family, or even fans, will be able to recognize your presence on Web3, which is also important for verifying your social media accounts; otherwise, users will be unable to identify your presence and will assume you are a bogus profile impersonating a friend or a fake celebrity.
With your NFT avatar, Crypto Domains will be used as verification on additional platforms in the coming years.
You can quickly connect and confirm your avatar with your Crypto Domain and bind your identification to the NFT PFP you want to use to generate your Web3 face, making it easier for your followers and admirers to recognize you.
We hope that now that you are aware of all of the possible applications for Crypto Domains, you see that it is more than just a collectible but a utility with the potential to drive and shape the future of the web, the Web3.
If you believe we have missed something, please let us know in the comments section, and we will do our best to correct it! But now that you are aware of all the useful aspects, let us look at why and who should use Crypto Domains.
Should you buy Crypto Domains?
We have already discussed the potential elements, features, and fundamentals of Crypto Domains. However, for those still unsure whether they should proceed, here are reasons other users are converting to Crypto Domains.
Nonetheless, it is entirely up to you whether to proceed or not, but being aware of the technological elements and reasoning is sufficient to prevent you from regretting passing up technology because you were unaware of its potential.
Crypto Domains have no renewal charges!
Crypto domains are not rented like traditional domains. There are no monthly or annual fees, as with a traditional domain. This is one of the primary reasons you should convert to Crypto Domains - once you buy one, you own it, and there are no additional costs.
In other words, once you purchase an NFT domain, it is yours forever, and no one can ask you to pay renewal costs. Because you are the name's sole owner, controller, and producer, you can then sell, exchange, trade, and even create subdomains with no one to answer to.
Crypto Domains are here to simplify digital transactions!
If you've ever exchanged cryptocurrencies from one account to another, you know how inconvenient crypto addresses can be.
While financial institutions and online payment platforms utilize standard-looking banking information and email addresses, crypto wallets use a more complicated approach.
A crypto wallet address, in reality, is composed of several random combinations of letters and numbers, such as 0xljehfikwefhpwoi39ur3ih29u0i49904yoe.
When you own a Crypto domain, you may use it as your crypto address, making it considerably easier to complete transactions - whether you transfer or receive cryptocurrency.
For example, if your Crypto domain is Bike-dot-web3, your friends or customers can send you money on this domain name instead of copying a bunch of random digits and letters.
Crypto Domains support several Cryptocurrencies & Blockchains!
Another perk of acquiring a Crypto domain is that numerous currencies are accepted, and tokens and coins can be received.
Handling cryptocurrency has never been easier, and the blockchain network is no longer important. The majority of them are usable.
Some of the most widely recognized cryptocurrencies and tokens are:
- ETH (Ethereum)
- BNB (Binance)
- BTC (Bitcoin)
- DOGE (Dogecoin)
- LTC (Litecoin)
- SOL (Solana)
This has resulted in the creation of an interoperable chain throughout the cryptocurrency universe, as well as a larger role in the acceptance of digital technology in the everyday lives of all users.
Now, only a small number of people utilize cryptocurrencies and NFTs daily, but as Crypto Domain technology becomes more widely adopted, it won't be long before these technologies become second nature to us owing to the humanified qualities that connect the blockchain world and the human world with ease.
Crypto Domains are decentralized!
One of the drawbacks of traditional domains is that they are centralized and generally governed by one body, such as a corporation like ICANN, which we have discussed below in detail.
However, Crypto domains are decentralized, so governments do not influence them. This means that your domain will not be part of the state's public system, and there will be no interference in its usage or power to take down your content.
Moreover, once purchased, they are yours for life. You will not be bound by regulations because no maintenance and renewal fees are controlling or holding your domain to any restriction or policies.
One of the reasons you'll want to buy Crypto Domain is because you can manage it entirely without third parties imposing regulations on you and do or host whatever content you feel like.
Crypto Domains are not expensive!
Yes, this may appear to be a contentious issue, but because traditional domains cost hundreds of dollars, or even less or more, renewal fees add up to excessive prices, all for what? You are simply renting a domain name that you do not even own.
Crypto Domains are one-time payments, which means that once purchased, you own it permanently, and no one can take control of it unless you sell, exchange, or trade it.
As an example, we tried searching for the name "Obito," which costs roughly $34877.07 for a traditional domain name ending in Obito-dot-com, plus $14 in annual fees.
On the other hand, we did the same thing by opting for a Crypto Domain. Since everyone loves DOGECOIN, we just tried minting Obito-dot-doge, which cost us around $1,599 with permanent ownership.
Just to be sure, we tried on another platform with Obito-dot-crypto, which cost us around $800 with complete ownership.
You can see the difference. Also, we have mentioned the pricey characteristics of Crypto Domains above; if you have been following us one by one, you are surely aware of it, and for hoppers, you can scroll a little above and read!
Crypto Domains are diverse!
Multiple Crypto Domain TLDs are available in the market, each with a unique pricing solution based on the length and market demand for that extension. There is a particular TLD for metaverse, NFT collectors, Crypto users, wallet-based gamers, and other genres that are a better alternative than the usual dot-com extensions.
Now that we've covInternet of the benefits and reasons for purchasing Crypto Domains let's go into the technical details of how to get a Crypto Domain and other terminologies before moving on to the regulatory section.
Creating a decentralized website with Crypto Domains
Building a decentralized website with a Crypto domain is fairly simple if you know some basic coding. Create an HTML page first, a basic programming language most websites use. After you've generated a webpage, upload it to the IPFS network as an HTML file.
When the HTML file has finished uploading to IPFS, you may take the content identifier (CID) token and add it to the content records of your Crypto domain. Lastly, after the content records are uploaded to the blockchain, your Crypto Domain name will route visitors to your unique webpage.
How to register Crypto Domains: A step-by-step Guide!
It's finally time for us to explain how to purchase Crypto Domains. You may have been waiting for this segment while we have been on this long path of discovering and learning about Crypto Domains, as this is what counts now that you have decided to acquire one!
Here's a step-by-step tutorial for buying Crypto Domains:
Step 1: Select a name
We have addressed all the possible characteristics for generating a first-rate Crypto domain name above, regardless of why you purchase Crypto Domains. The name is the most important since it identifies your objective, which then carries the complete reputation of your Web3 venture.
Your Crypto Domain name defines your wallet address for your website, gamer tag for metaverse games, one-for-all decentralized identity, crypto exchange source, NFT partner, and so on, so select wisely.
Step 2: Select a platform
Now that you've decided on a name, it's time to choose the finest site to buy crypto domains. In the following section, we will go through platform selection in detail.
The availability of the TLD alternatives for minting will determine the best platform. Some are limited to one or two, resulting in fewer minting alternatives. Be sure the site you use for minting your Crypto Domain name has a variety of possibilities and is trustworthy.
Step 3: Select a TLD
Now that you've chosen the platform and discovered that it offers a variety of TLDs that you believe would work well with your content, it's time to choose the best TLD.
Do not choose a TLD that does not serve your objective simply because it is well-known and popular. Follow your content if you have a purpose, but it's okay to deviate from it if you believe the TLD with your name exhibits a far superior match.
Most of the time, the combination of the name and TLD has a wider impact on the quality of the Crypto Domain name, so be careful and keep to your content if it is important for those with a purpose.
Step 4: Mint
Now that you've decided on a name, platform, and TLD, it's time to create the Crypto Domain.
Minting is the process by which the service provider identifies you as the lawful owner of the minted Crypto Domain, which is also saved in the database as part of the blockchain and can be searched and accessed by anybody to identify the possible owner of a specific Crypto Domain name.
Now that you know the entire process of registering Crypto Domains,
Here’s a short step-by-step guide to buying Crypto Domains on marketplaces:
Step 1: Launch any Marketplace
Select any Crypto Domain marketplace and launch their official website. Make sure not to fall for fraudulent websites and double-check before proceeding.
Step 2: Search for the Name
All marketplace functions are the same, so on the search bar prominently visible on the first page of the website, input your selected name and click "search" or push enter on your keyboard.
Step 3: Select the TLD
Now that you've searched for the name, you'll see a list of all the TLDs accessible in that marketplace. Choose the one that best fits your needs, or if you're flipping or selling, choose the best mix.
Step 4: Select Mint
Once you've decided on a TLD, click the mint button next to it or buy now, which will take you to the final and most important page. Ensure you have properly checked the domain name with TLD because you cannot alter it later.
Step 5: Complete the Payment
Once you've arrived at this page, the final step is to click on mint, which will take you to check out and formally register the Crypto Domain to your wallet address.
You need the correct cryptocurrency in your wallet to complete the transaction. Some also accept fiat currency, so meet the payment requirements before proceeding.
After that, finish the transaction by validating and signing with your crypto wallet, and it will be automatically transferred to your wallet.
How to choose the best platform for buying Crypto Domain?
Selecting the finest platform for purchasing domains is just as crucial as purchasing the greatest ones. Every marketplace requires specific characteristics that define the greatest in the market.
The following are the top Crypto Domain marketplace qualities that distinguish a service provider as the best in the market:
#1 Variety of TLDs
A diverse range of TLDs provides a highly individualized experience for users, and every provider should have at least four or more TLDs available for minting on their platform.
Whitepapers are informational documents released by Crypto Domain marketplaces to promote or highlight the aspects of a solution, product, or service the marketplace provides or intends to provide.
Every platform that provides a whitepaper determines the prospective use cases of Crypto Domains and encourages users to read it. Going through the whitepaper increases the possibilities of learning the technology from their perspective and comprehending more of its use cases.
#3 Wallet integrations
When you enter the site, ensure that the service providers accept the digital wallet you use and that the top-tier platforms have at least MetaMask integrations, which are trustworthy and simple to use and connect.
#4 Ticket submission
Any top-tier platform should include the option to submit a ticket whenever an issue arises. A platform that does not provide such services produces credibility concerns and cannot be used in the ideal frame that anyone may construct.
Check that the site permits ticket submission and has dedicated regulations outlining ticket submission and other areas, such as refunds.
#5 Frequent and Free updates
Frequent maintenance updates demonstrate that the platform is actively working to provide a trending solution for its customers, so look for a place with trending names and not just anything transformed into a TLD and sold.
In the realm of technology and decentralized ecosystems, the top and trending genres of today and possible for the future are metaverse, web3, virtual reality, blockchain, internet, and so on.
A few Crypto Domain marketplaces offer TLD and name minting with renewal fees, eliminating the role of being decentralized and autonomous.
Hence, make sure the platform you choose allows a continuous minting of Crypto Domains, or don't choose one with traditional domain qualities.
It is a Crypto Domain, and it should be transferred permanently with no renewal charges to the users by remaining true to its roots and decentralized nature.
#7 Buying and Selling solutions
Before minting any Crypto Domain, ensure that the platform has all the marketplace options for purchasing and selling. This results in a considerably more personalized experience, where users can acquire pre-minted Crypto domains from other users.
However, there are various aspects to consider while buying a crypto domain. The first and most significant factor to consider is whether or not you are willing to shoulder the accountability that comes with token possession.
If you've been involved with crypto for a while, you've most likely already exercised most of the crypto safety etiquette that comes with it, so this should be no surprise.
If you are new to cryptocurBlockchainins, we recommend first studying the foundations of cryptocurrency safety, such as safe, private key storage.
Remember that crypto domains and the cryptocurrency business are still in their infancy, and there are still issues to be worked out, which is why we have set this entire FAQ article to help you figure out everything you need to know about Crypto Domains.
Can you sell Crypto Domains?
Of course, you can! Selling NFT domains offers benefits, and recent numbers suggest a big surge in demand; unlike traditional domains or simply NFTs or Cryptocurrencies, these domain names have a function and can be extremely valuable to web3, which we have discussed already above.
If you don't know, you may have missed the segment and jumped here, but we encourage you to read it because it contains useful information. However, its utility features have made them a highly profitable firm, and many individuals purchase them for personal use and resale.
If done effectively, NFT domain flipping can provide significant profits because domains can be sold for as low as $5 and as much as hundreds of thousands of dollars, with the most valuable domains fetching prices over $500,000+.
Here’s a step-by-step guide to selling Crypto Domains:
Step 1: Launch the Platform
Launch the platform you intend to sell your Crypto Domain, where you found and minted it in the first place. As previously said, ensure that the marketplace where you mint a domain also provides a mechanism for selling it.
Step 2: Connect your wallet
Now that you're on the platform sign up and connect the wallet where you kept your Crypto Domain. Crypto wallets are simple to use because they instantly integrate all the information, eliminating the need to repeat specific operations.
Step 3: Click on Sell
Now, on the front page, the option "sell" is highlighted in bold; click on it and choose the chain where you want to advertise the Crypto Domain for sale.
Step 4: Select the Crypto Domain
This step is for those with multiple Crypto Domains in their wallet, so select the correct one. You can cancel the listing anytime, but why repeat the process?
Step 5: List selling properties
Choose all properties you want to list for your Crypto domain for a fixed price or auction.
If it is for a fixed price, be sure to compute the market value based on the features we covered earlier, and if it is an auction, choose the number of days the auction will last, who will win, and how the winner will acquire the Crypto Domain.
Step 6: Complete the listing
Now that you've chosen all the properties click "complete listing," and your Crypto Domain will be available for purchase or bidding by other users. Ensure you have thoroughly researched the market, and you can also sell your listing to communities, organizations, and Crypto Domain targeted audiences to increase engagement.
Crypto Domains: A profitable investment and a source of passive income!
Crypto Domains are akin to NFTs or Cryptocurrencies, which can be a profitable trading opportunity for users to buy and sell traditional domains online. Crypto Domains are profitable because they can communicate with humans using blockchain technology.
Without Crypto Domains, humans could not communicate and connect with blockchain and its technologies. People are modifying crypto wallet transactions for the time being because it is a one-time interaction rather than a daily routine.
Do you think it will enhance acceptance if adapted to daily life and you interact with decentralized websites and their 42-character long alphanumeric strings, even though it sounds futuristic and safer than the regular web?
This is why investing in Crypto Domains is advantageous now, as the technology is constantly expanding and growing and has not yet settled into a precise description. Yet, we have a solution for those interested in profit and investing in this technology for that goal.
Crypto Domain flipping is a basic method of earning a profit that entails minting a large number of domains that you believe will be sold for a higher price in the future and earn you profit, such as minting a Crypto Domain named brand-dot-web3, of course, it sounds and has a strong resemblance, which means it has a good chance of earning you profits in the future.
We've gone through in-depth flipping below, so let's go on to the next option: offering subdomains. You can build as many subdomains of your basic crypto Domain as you desire and sell or rent them to customers who want a certain set of names.
If your standard Crypto Domain is news-dot-web3, consumers with such needs could purchase subdomains such as crypto-dot-news-dot-web3 from you and others, creating a tremendous source of passive income for you.
Artists, investors, and collectors can earn a good amount of money and a passive income from Crypto Domains and the royalty that comes with it, as some offer a 5-10% royalty on every subsequent sale, which means that even if you sell the Crypto Domain, you can still earn money from its potential future sales.
Nevertheless, this applies to the original minter, but it undoubtedly is a good source of passive revenue. Nevertheless, if you look at it from a broader viewpoint, we strongly advise using this technology because you never know what the future holds.
The entire web3 realm is yet to be explored.
Is there any risk of flipping Crypto Domains?
To be honest, Crypto Domain flipping is not an easy feat, and if you ask about the risks it entails, there are risks only if you violate any trademark or IP rights of an international or other government; otherwise, there are no risks in domain flipping, and in fact, it is the best way to make money from Crypto Domains.
But, the concept is not entirely about spending hundreds of dollars on fascinating Crypto domains from various categories, but rather about acquiring possible names that you believe will interest other people and may pursue you for purchase or acquisition.
Here are a few considerations to think about while purchasing Crypto Domains for the aim of flipping:
Stay focused and stick to a minimum of genres!
Commit to purchasing Crypto Domains within a specific category to improve your expertise of the interests, requirements, desires, difficulties, and other information linked with that area. If you do so, you will have a greater chance of predicting future demand for a specific Crypto domain.
This also creates an easy method for you to advertise the Crypto Domains. If you buy from numerous categories, you must market it everywhere and dig through communities of the specific genres. Also, if you select at least two categories, reaching out to communities and selling the available Crypto Domains for flipping will be easier.
Practice SEO before buying Crypto Domains!
Practicing, akin to studying SEO keywords, may take some of your time and brain work. Still, evaluating possible Crypto Domains that may have a higher value or demand in the future is critical. Identifying popular keywords in your industry with a high Cost Per Click (CPC) is critical.
You will undoubtedly want Crypto Domains with keywords that commercial companies will pay you premium prices. Remember that whatever Crypto Domains you acquire must have the short and simple characteristics mentioned above.
Selecting the right keywords is a challenging skill to acquire. However, for those interested in Crypto Domain flipping, we recommend you devote some valuable time to studying.
Time is not running out, but accuracy and perfection are the most important factors. Don't worry; study now because the industry is still advancing and has not yet become ingrained in daily life. So study today and get the best.
Wait for the right time!
If you are flipping a Crypto Domain, never buy one and upload it immediately since you must wait for the correct time to release it, which requires prior planning before listing.
Most of the time, you can buy Crypto Domains and then list them after a year or two when you believe the market is ready to accept them, which is when you must reveal your hidden persona to the world.
This suits short-term play, accommodating communities, and popular features. It's similar to purchasing a Crypto Domain titled EDM-dot-vr during the hoopla for Tomorrowland and other events where people would want to get such Crypto Domains.
Users can later pitch the Crypto Domain to the host or its users and profit via subdomains such as Tomorrow-dot-EDM-dot-vr. If you acquire it for $10,000, you may sell it for far more than you could imagine if it is in demand.
You could gain more by building subdomains and monetizing with them by selling or renting, creating an ultimate level of flipping Crypto Domains. These are short-term flips, but they tend to stay positive. It all depends on the trends and how willing its audience is to go to any length to stay current and expand.
Another effective developing technique entails purchasing many cheap Crypto Domains with popular keywords from any niche and then sitting on them for years before releasing them once there is a craze and mass adoption for the entire Crypto Domain industry.
The concept is that after a given period, the majority of the Crypto Domains will have been coined, which means that the ones you own will get valuable due to scarcity, which means you can now pitch a $5 Crypto name for $100 or more.
Be current with all trends and release the Crypto Domains accordingly, as the proper moment plays a critical part in determining the highest price for the Crypto Domain.
Getting to the actual point, Crypto Domain flipping is always of low risk due to its extremely low barrier to entry, and you are not required to be acquiring Crypto Domains for hundreds of dollars to make a profit, you can start by locating the quality one for $5-15 and flip them which means that you are at:
- Minimal investment reduces the high investment risk.
- Saving money for the future.
- Learn before flipping large investment-based Crypto Domains.
Starting with a small amount of flipping allows you to grow as you learn about this business's trends and other elements. This may have piqued your interest because it offers numerous benefits and prospects to earn more money than you imagine.
Nonetheless, there are a few things to consider before diving into Crypto Domain flipping; first, you need a lot of patience. You don't want to jump in and acquire every domain that appears to be a reasonable investment.
You must be patient to find the ideal Crypto domain at the right price and with possible future worth. Patience is also required when selling Crypto Domains.
In most cases, your domains will sell quickly, but you may have to wait a few months or years, as described above, and offer your domain numerous times before receiving qualified purchasers.
Understand that not every Crypto Domain you purchase will succeed since some may be sold for the same or even lower amount. You will make mistakes, so we propose that you begin with tiny steps that are easier to manage and accept.
After all, it is all part of the process, and the most important thing is that you can identify what went wrong and learn from it, as well as ensure that you have a solid procedure to build in the future.
Cryptocurrency domain flipping is an excellent and legal way to earn money online or as a passive income. Starting with average Crypto Domains in smaller amounts is wise, as little risk is involved.
Do average Crypto Domains function the same as Premium ones?
A premium Crypto Domain name is one of high quality that investors frequently buy, intending to flip and sell for profit. These names have a variety of qualities that allow them to outperform others in the key function of a Crypto Domain, which makes it easy for users to recall, locate, and spell.
On the other hand, an average Crypto Domain that is illogical or overly complicated to spell and lacks the attributes described above will not help much. It requires significant research to assess Crypto Domain names and their worth accurately.
However, it is rather straightforward to consider some of the basic market requirements that label a Crypto Domain name as premium. Every solid Crypto Domain name requires a decent TLD to give you a better price while not compromising your ability to reach potential clients.
Long-spelled Crypto Domains are difficult to remember for casual users and are only appropriate for larger brands with established identities, which come at a higher cost but are mostly preserved.
Because of this intricacy, average-length Crypto Domains and those with hyphens or other punctuation may be less successful. Every crypto domain must be succinct to be remembered, pronounced, typed, or spelled.
Some valuable Crypto Domain names, such as the ones we covered above, are extremely generic based on trends and industry attractiveness. When a Crypto Domain name is easier to remember and can even be used to develop a brand, it is more likely to become a valuable listing with better cost.
Premium Crypto Domains are pricey for one simple reason: they are easy to remember from any perspective, whether company or individual. The essential attribute that distinguishes premium Crypto Domains from typical Crypto Domains is that they provide a critical advantage in today's competitive economy.
Yet, this does not mean that ordinary and not-so-average Crypto Domains are not useful; the functionality and capabilities remain the same; it is only the quality of the name that distinguishes these domains from one another.
To enter the flipping business, go for premium Crypto Domains. It's not that you shouldn't go for the average ones; go for it, but be a little picky and choose the possible ones that you believe can resemble a genre, industry, or trend.
Go for the ones that have a potential future value.
Can hackers steal Crypto Domains?
In 2021, a bug in OpenSea's code resulted in the loss of nearly $100,000 in NFTs that were supposed to be delivered to a Crypto Domain owner but were sent to an unknown inactive address.
But this was due to an Opensea bug that has now been rectified, so don't panic, but there are some potential hazards to consider before proceeding to the actual section.
But, because blockchain and Crypto Domains are immutable, hacking is essentially impossible, and only such occurrences as incorrect crypto addresses and Crypto domains-based websites are resistant to hacking.
The Blockchain technology concept was built with security in mind, and its design makes it impervious to hacks or security breaches. Every block or data record in the blockchain is tokenized with a hash based on its contents and every other record in the network.
If any records are changed, the computed hash will no longer match the original hash, and the change will be obvious to every network node.
It comes down to trust in the end. Because blockchain entries are comparable to distributed ledgers, they are distributed among different nodes with multiple codes, providing high redundancy to ensure the data is always available.
The system leverages consensus-based trust ideas to prevent bogus or modified data from being placed into the blockchain. If most distributed nodes agree that a specific blockchain contains a particular hash, then that hash is considered correct.
Cybercriminals understood long ago that blockchain protocols are secure and dependable, so they started looking for new ways to influence them, and the "51% attack" was developed.
It enabled them to push legitimate nodes out of the way and add so many nodes that they controlled 51% of the active nodes. This enabled them to seize control of the hashing process and generate blockchain hashes using a separate version of the blockchain into which they inserted additional transactions.
However, such incidents are not common and require a significant effort. As technology advances, countermeasures for these assaults also advance, and it is surely not easy to attack a notable blockchain.
Thus, don't worry; whatever you store in your Crypto Domains is safe from everything, except if you make a mistake and send something to the wrong address, which is unchangeable.
The Crypto Domain Scam: Can Crypto Domains be faked?
Scammers constantly look for new ways to attach and earn money from anywhere. One of the most recent methods they have discovered is Crypto Domain Spoofing, which is impersonating the website of well-known Crypto Domain exchanges.
Then, a user unintentionally interacts and makes purchases with these bogus websites and then loses their holdings, money, and everything. So join us as we examine Crypto Domain Spoofing in greater depth and discover some better strategies for trading securely in the cryptoverse.
Domain spoofing has been around for a long time, and Crypto Domains have now joined the fray. Formerly used by scammers to impersonate banks and other financial institutions, such actors now use this strategy to cause havoc in the crypto arena.
Imitations have become more difficult to identify as the Unicode symbols employed by these scammers to replace conventional English characters match 100% with the originals, making it easy to breach the defenses of innocent people.
They use extremely sharp abilities for spoofing, which may involve changing the frame of letters or using symbols from other fonts or designs from Greek designs that are difficult for an average user to detect.
They may also employ simpler techniques, such as an extra letter or o in place of zero, which appear legitimate to the inexperienced eye. Scammers use well-designed knockoffs of genuine websites, making it even more difficult to tell the difference.
They also sometimes upload on other marketplaces and showcase as official, further confusing them. However, the fake ones sell out, and users are left out, proving that it is easy to fake Crypto Domain.
Scammers frequently construct phony offers to entice victims, disseminated via emails, tweets, SMS, or any other distribution method. They try to reroute you to the phone domain they've set up, and because the URL looks authentic, most people accept the bait and click the link, falling victim to the trap.
They also host legitimate-looking websites that require users to provide their login credentials to proceed. The fraudsters may then monitor the characters and letters entered, gaining access to the victims' accounts. They will likely deplete their accounts once they gain access to them.
Crypto Domain Spoofers get many victims from near-perfect web pages with one extra number or letter. You can identify the incorrect pieces if you consider the domain name in the address bar.
Aside from spelling errors, scammers occasionally construct exact match URLs with a difInternetLD than the dot-com domain, which you should look carefully for before opening any website.
Bookmarking trustworthy websites is a fantastic way to avoid fraudulent domains. If you receive an offer that appears to be from one of these platforms that you are familiar with and use, visit the bookmarked website rather than the link contained in the e-mail, tweet, or SMS.
But it's not like you can bookmark everything. Sometimes, you can go to the official website and look for the code, but never use or click on embedded links known as hoaxes.
Activate the address bar lock, which is the first indicator of trust. It indicates that the connection between your web browser and the website server is protected since it validates that the website you are visiting has the requisite SSL certificate.
Fraudsters rarely go to such pains to create a bogus protected website, but in any case, use caution before revealing personal information on a website. For those new to Crypto Domains, using a wallet with minimal amounts can minimize the harm if caught in a scam.
Yet, it is not uncommon for cryptocurrency platforms to make tempting offers. They may offer exclusive airdrops or free tokens to people who complete specified tasks.
However, these offers should be verified on the official website or social media page, never by clicking on any WhatsApp, Instagram, discord, SMS, or email link.
These social frauds put the ball in our court since to fall into their trap, you must click on the link, and if you don't, you are just saved, but please educate others.
Exercising proper vigilance will help you avoid becoming a victim of exploits, and recognizing bogus domains should be much easier now that you understand everything we've covered.
Crypto Domains in Blockchain & Metaverse Gaming
You're inviting a friend to play Valorant, and you'll need a Gamertag for that, right? Nevertheless, this is not possible on blockchain gaming because what is required as a Gamertag is your crypto wallet address, which represents the user on the Metaverse and metaverse games or blockchain games.
So with a wallet, it's like, hi 0xakeshfoiwhepfowikehfwoeighherifiej, ugh! Not the best way to connect and interact. As a result, Crypto Domains are an important component of the metaverse realm since it serves as the user's personalized identity or a Gamertag representing the user in the virtual realm.
Users can replace their wallet addresses with human-readable personalized names using Crypto Domains. Thus, rather than connecting with a jumbled address, enjoy the tailored experience. Furthermore, all avatars, in-game materials, and digital products you gain will be associated with the same name, making them even more accessible to the user.
However, incorporating personalized Crypto Domains transforms them into your digital identities or portable Gamertags that hold the portfolio of all your digital assets and information, enabling you to swoop from one world to another with ease, and you can also use that same portable Crypto Domain-based Gamertag with the rest of Web3 dApps from NFTs, DeFi, etc.
Blockchain gaming, or metaverse gaming, is growing slowly. Still, with the incorporation of Virtual Reality, it is certain to reach previously inconceivable heights. Crypto Domains are important in allowing users to construct their own unique experiences.
Accessing Crypto Domains on Web2 Browsers
So, you've finally purchased your first Crypto Domain and are anxious to be inspired by other websites and improve your own, only to discover that you can't open or access Crypto Domains ordinarily.
One disadvantage of Crypto Domains is that they are displayed natively on all browsers unless the settings are slightly altered since they are an alternative to traditional domains, which are getting more popular online and slowly developing.
This is why you should be aware of all the terms of accessibility of Crypto Domains. Crypto Domains can be accessed and seen natively in the Opera and Brave browsers, which is not the case in the most popular ones like Google Chrome or Firefox.
But it's not that you can't access them with it; there are some considerations and aspects to consider, which we will go over individually as we investigate the accessibility feature of Crypto Domains.
How to access and host Crypto Domain websites on Google Chrome?
Google Chrome is one of the most popular web browsers in the business, with more than 50% of users using the web through it. While it has all the features and functionality needed to run a website or access a Crypto Domain-hosted website, it does not give exclusive access nor showcase Crypto Domains.
However, the settings can be adjusted so that people can read and access them, as well as establish websites with Crypto Domains, by following these steps:
- Open Google Chrome and navigate the settings menu (three dots in the upper right corner).
- Now, go to Privacy and Security and then select Security.
- Scroll to the advanced settings and look for "use secure DNS."
- Choose "with customized" and input the DNS gateway endpoint proxy provided by your Crypto Domain provider.
- You can browse Crypto Domains through Google Chrome now that you have configured this customer and secure DNS.
How to access and host Crypto Domain websites on Mozilla Firefox?
Mozilla Firefox does not natively support Crypto Domains, although users can gain access to them by significantly altering the settings via:
- Open Mozilla Firefox, navigate to the Hamburger menu, and pick "settings."
- Now go to "general," scroll down the screen, and click "settings" under network settings.
- Set the "user provider as customer" option and enter the DNS gateway endpoint proxy provided by your Crypto Domain provider under Enable DNS over HTTPS.
- Save the adjustments by clicking "OK." You can now all set to visit Crypto Domains regularly.
How to access and host Crypto Domain websites on Microsoft Edge?
Microsoft Edge somehow doesn't natively support or exhibit Crypto Domains. However, through a few clicks, you can accomplish the same thing we did on Google Chrome, such as:
- Open the Microsoft Edge browser and select the three dots in the top bar to access the settings.
- Now, choose Privacy and search for services.
- Now, in Security, scroll down to "select a service provider" and copy the DNS gateway endpoint proxy provided by your Crypto Domain provider.
- Close the tab, and you can now use Microsoft Edge to access Crypto Domains.
But how to surf Crypto Domains?
Now that you've updated your browser settings and are ready to explore the other side of the internet, the decentralized web, how do you go about it?
Thus, once you've determined which Crypto Domain you want to visit, type the URL beginning with http://(name)/ and then the name instead of the standard https://. Have you noticed the difference?
Because blockchain technology is new and has yet to be generally used, it is not considered entirely secure, so the "s" has been omitted. You must add a slash at the end of the Crypto Domain to access and surf through it on the traditional web.
Browsers may not recognize that the URL is a Crypto domain until you use that final slash, and if you don't, your browser may return you to your normal search engine and interpret it as a query, which will be useless.
Did we say that some browsers do not classify Crypto Domains as secure? Don't worry, we've debated this before, and the result will always be the same: Crypto Domains are secure and cannot be hacked.
This implies that once the Crypto Domain is created, it cannot be hacked or hijacked by any malicious assault, thanks to Blockchain and its blocked security.
Also, the proprietor can only restrict the Crypto Domain. No one else can take it down due to censorship-resistant properties, which we have described in depth in the following segment, so read carefully as it is equally or most important.
Crypto Domains' legislation
As we have explained in detail about Crypto Domains, regulation always stems from the conception which is the blockchain technology and its valuable source: crypto wallets and the Web3 ecosystem.
The entire notion of Web3 has attracted digital entrepreneurs and venture investors by storm, which is to construct a new version of the web that integrates principles of decentralization, smart contracts, blockchain technology, NFT, and cryptocurrency.
Then there are Crypto Domains, the primary source of interoperability within the decentralized sector. These domains have created a legal tangle because they are outside ICANN's control and not directly subject to DNS-related rules and regulations.
One of the primary legal ramifications of Crypto domain names is the protection of brand owner rights, which also launched Web3 in concern. You can call it cybersquatting 3.0.
Cybersquatting is a decade-old phrase that refers to the illegal purchase and use of an online domain name identical to a brand, company name, or personal name.
Cybersquatting theory remains the same in web3's blockchain-based web. However, everything happens with Crypto Domain names in Cybersquatting 3.0 rather than traditional domain names.
Understanding cybersquatting 3.0 and combating Crypto Domain name infringement has become very important in light of the technological move toward blockchain. Why is it important?
Because Crypto Domains are also an investment and an advancing factor with the potential to shape a bright and limitless future, so, you must be aware of all the factors discussed in this FAQ article to avoid being stolen by bad actors and to stay active with the concept so that you are aware of what is happening and how it is happening.
Returning to the point, there are currently three largest Crypto Naming Systems: Ethereum Name Service (ENS), Quik Domains, and Unstoppable Domains. Ethereum Name Service (ENS) offers domains with TLDs "dot-eth," Quik Domains offers domains with TLDs "dot-web3, dot-metaverse, dot-vr, etc.," and Unstoppable Domains offers domains with TLDs "dot-crypto, dot-nft, etc.”
As previously stated, ICANN does not regulate these names, but what is it? ICANN is a non-profit organization with the authority to govern domain names based on a contract with the Department of Commerce's National Telecommunications and Information Administration (NTIA).
According to the formal contract with NTIA, ICANN is at the apex of the traditional global domain name system and is responsible for assigning and administering the Domain Name System (DNS) and IP addresses.
Unfortunately, Crypto Domains are not registered by ICANN because they are not a part of the DNS hierarchy and hence do not fall under ICANN's jurisdiction.
Furthermore, the official websites or content-hosted governance documentation stated that Crypto Domain Systems are not part of DNS and that ICANN has no technological authority to impact Crypto Domains in any way.
According to the Anti-Cybersquatting Consumer Protection Act ACPA, a domain name is an alphanumeric identifier registered or allocated with a domain name registrar, domain name registry, or any authority as part of an electronic address to interact on the Internet.
As a result, traditional domain names and Crypto Domain names are alphanumeric designations made up of TLDs and 2LDs. Regarding the traditional domain naming hierarchy, ICANN is at the top shelf and specifies TLDs at the top, followed by a 2LD.
TLDs appear as letters after the last "dot" in domain names. 2LDs is the sequence of alphanumeric letters preceding the last "dot." Regarding Crypto Domain naming, these domains also follow the above structure.
Hence, Crypto domains or any other pattern-based domains, along with TLDs and 2LDs, fit the definition of the domain name, with the caveat that the same nomenclature is used for transmitting blockchain addresses to people, just as the Internet did.
ICANN and its several definitions:
- A domain name registrar is a corporation that registers domain names and is listed in the Accredited Registrar Directory.
- A domain name registry is a subsoil registry or a second-level domain registry that consists of "dot-()," in other words, it is the repository of all domain names and the information linked with them.
- Additionally, domain name registration authority can be other entities contributing to internet functioning, such as supporting email addresses or other ancillary services or servers.
However, in Crypto Domain, a domain name registrar is a smart contract in charge of allocating subdomains. The registry is the foundation for contracts such as Quick Domains, ENS Domains, and Unstoppable Domains, which keep the mappings from domain name to owner, resolver, and time-to-live up to date.
Crypto Domains and traditional domains have registrars, registries, and other registering authorities, but their natures differ because smart contracts replace corporations in this role. When carefully examining the abovementioned terms, you can easily draw the parallel line from Crypto Domains to regular domains.
ACPA defines domain names as alphanumeric Internet identification, whereas Crypto Domains are electronic addresses on the Blockchain network.
ACPA defines the Internet as the international computer network of both Federal and non-Federal, which is compatible with packet-switched data networks. However, Blockchain does not come under this category.
But Crypto Domains can be interpreted in two ways:
- Crypto Domains are unique identifiers for blockchain technology.
- Crypto Domains are IDs for blockchain wallets and Internet addresses, as access to the blockchain is impossible without the Internet and human-readable mechanisms,
Furthermore, Crypto Domains can be connected to a wallet, social media, or a website, allowing them to connect to Web2 services and applications. However, ACPA cannot be deployed to Crypto Domains and other Web3-related services under the first-mentioned technique.
ACPA is used in the second-stated approach since it connects to the centralized web and its applications. According to the ACPA and its definition of the Internet, it is an international computer network of interoperable federal and non-federal packet-switched data networks.
Consequently, the Internet is only an international packet-switched network system, and understanding this is critical since blockchain networks, such as Ethereum, are peer-to-peer and thus technically not a packet-switched data network, which means:
- It cannot be compared to an Internet-connected network.
- It cannot be compared to the Internet since the Internet, as described by ACPA, is a network of networks, but the Ethereum network is a single network or a network of nodes.
Therefore, Crypto Domain is a blockchain address, not an Internet address. Nonetheless, only the Internet provides access to the blockchain network and itself. Anyone with Internet access can access data from any blockchain network.
Instead of a single service, the blockchain network is a decentralized program with duplicates of data available on each node. When we refer to a blockchain wallet by its connected Crypto Domain name, we refer to a decentralized internet application.
As a result, the internet and the blockchain network are both universal and particular. In the second way, which is a more detailed explanation, we use Crypto Domains to reach a Blockchain address in one internet-based service (blockchain).
The second meaning of Crypto Domain as an address on an Internet-accessible application relates to the domain name under ACPA. Yet, we can say that an identifier, name, or login in any application or game is a domain name using this technique because it converts the user's number in the database as their login.
These identities have diverse qualities, purposes, and meaning on the internet, which are not always obvious. But, with their financial and other utility, Crypto Domains are more substantial, interoperable, and fairly distinct from the Internet and its capable definitions.
You can access a decentralized website hosted on IPFS using Crypto Domains. The barrier between ordinary domains and Crypto Domains is then destroyed as certain extensions offer Crypto Domains connected to IPFS for hosting websites and publishing content on the traditional web, such as Google Chrome, Opera, Brave, etc.
No one could have predicted that domain names would become so valuable on the Internet, as the internet was never taken seriously.
Crypto Domains will most likely play the same role as traditional domains. We may see some new regulations for crypto domains in the future since we are already witnessing an alliance in progress.
Nevertheless, from a legal standpoint, the advent of blockchain domain names at a time when traditional domains have been in existence for decades and many DAOs are concurrently releasing their TLDs creates two legal issues:
- Name Collision.
However, ACPA does not restrict the word domain name to solely traditional domains. Infringements on Crypto Domain Names should be prosecuted under current cybersquatting legislation and naming convention regulations until the blockchain network or other authorities issue a definitive law.
Crypto Domains & Cybersquatting
There is no law governing cybersquatting and other Crypto Domain disputes. Even if there were regulations, there would be no chance of a forced domain takeover because everything in Web3 is based on smart contracts.
Under specific scenarios, a smart contract can enable the option of a forced domain takeover. In addition, ICANN has no authority over blockchain domain names. Therefore, a lack of jurisdiction would fail any conventional UDRP dispute.
Because there are no regulations governing the registration and use of Crypto Domain names, it is also critical to identify an infringer on the blockchain. Consider a user who decides to assert their rights through a typical lawsuit.
But who is the accused? The Crypto Domain's unknown owner provided no information while registering the domain name. Nonetheless, it is widely assumed that blockchain users are fully anonymous.
This is somewhat accurate because some traces left behind by wallet owners can be used to identify them. The simplest method is to locate its profile on a centralized exchange, a service for purchasing cryptocurrency, or the location where the wallet was replenished.
The service makes it easy to locate any wallet user by allowing them to monitor wallet activities and identify connected accounts. But there are certain stages; just a few things on the blockchain are as simple as they sound.
Assume the address's owner was a cybersquatter in some way. In that case, one could request information about the account owner from the central exchange or any other platform to contact the person or file a lawsuit instead.
The centralized exchange will certainly not share information with its users, but a court order may make this possible. Further traces may exist if the owner has openly displayed their wallet address in conversations, forums, etc. Although it is not easy, it is certainly feasible.
In the United States of America, a court has the right to consider a cybersquatting allegation in one of two ways:
- When a lawsuit is filed against a squatter who resides, has a relationship to, or is served with legal procedures in the United States.
- A lawsuit in a disagreement over who owns a specific property, such as a Crypto Domain Name. A lawsuit under ACPA can only be filed if the registrant, registry, or other domain name authority is in the United States.
The second technique is only occasionally applicable to Crypto domains because corporations handling domain names may be located outside the United States or do not have a legal body, signifying the absence of centralized servers.
As a result, it cannot be claimed that the registry of names is located in the United States, further complicating and closing the case. In addition to cybersquatting concerns, Crypto Domains has detected domain name clashes.
There was a situation in which Unstoppable Domain sued Gateway.io for domain collision. Therefore, let's first comprehend the concept before describing what happened. Traditional domains have an official structure that comprises the root zone that lists the names of all TLDs IANA manages.
Rest TLDs from "dot-abb to dot-zw" are handled by registry operators, and IANA-assigned operators manage 2LDS. As a result, traditional domain namespace management is fairly centralized, with IANA, which is part of ICANN, managing its important component.
Blockchain is a perfect mechanism for obtaining worldwide consent on ownership and documenting the transfer of ownership rights to domain names. However, some issues, such as contracts on identifier allotment, cannot be solved using blockchain technologies.
Numerous Crypto Domain Naming services are available, each offering the purchase of a TLD and a 2LD. The distribution of naming space is growing more complicated as more domain naming services emerge.
Certain restrictions are required at such times, and the essential question is which blockchain solution will play the role of ICANN in distributing blockchain TLDs in the Root Zone. It will confuse if users can possess a comparable Crypto domain on two service providers that use the same TLDs and 2LDs.
It would then lead to owner disputes and, as a result, additional legal lawsuits. ICANN is also concerned with non-DNS names and blockchain-based solutions. In addition, there was a discussion regarding blockchain-based domains held at ICANN in 2022.
The topic of discussion was the lack of namespace synchronization between alternate naming systems and the DNS, which could lead to a collision. ICANN defines a name collision as a name used in one namespace that also occurs in another.
Users and applications wanting to use a name inside one namespace may pursue to use it in another, resulting in errors where the intended usage of the name differs in both, and the same TLD+2LD exists on both platforms.
Such situations can result in a name clash, which might be negligent or malicious. The Internet Engineering Task Force is another non-profit Internet-related regulatory agency that sets numerous Internet regulations dealing with technical papers that influence how people construct, utilize, and administer the internet.
It has not included Crypto Domains in any special-use domain names, and their classification may differ. Generally, no Internet-related governing bodies have any power over the use and development of Crypto Domains.
On the other hand, the frequency of name collisions may hasten the establishment of new legislation and legal procedures in this field. Let us investigate what happened to Unstoppable Domains and Gateway.io.
Unstoppable Domains, as previously said, is a Crypto Domain name supplier offering TLD "dot-wallet" since June of 2021. In just over a year, it has sold thousands of these domain names to customers.
Gateway is another Crypto Domain name provider that began selling consumers the popular "dot-wallet" domain in 2022. The company manages handshake domain names as a registry and registrar.
Unstoppable Domains issued a cease and desist notice to Gateway, demanding they stop selling "dot-wallet" names. On the other hand, the blockchain network is decentralized, and one of its guiding principles is that no single person controls any part of the network.
As a result, any limits or laws contradict the goal of using blockchain to develop a free internet. No one, not even Unstoppable Domains, has the right to dominate any component of the blockchain ecosystem.
Gateway heartily supported the concept of free internet. The big changer, however, is that Unstoppable Domains registered the "dot-wallet" as a trademark with the United States Patent and Trademark Office and subsequently sued Gateway for trademark infringement.
They further asserted that the defendants' infringing "dot-wallet" caused the technological collision, causing Gateway.io to slide behind the cloud curtain and no longer accept domain registrations.
They appear to have ceased operations upon the filing of the complaint. Even if Unstoppable Domains won the battle by demolishing its rivals, they are still unstable. The "dot-wallet" trademark application is an intent-to-use trademark registration.
Unstoppable Domains has also attempted to trademark other TLDs but has been denied by the US Patent and Trademark Office because it does not issue trademarks.
The International Trademark Law & Crypto Domains
There is no specific trademark legislation governing Crypto Domains. Intellectual Property laws apply to everything on the internet or the blockchain. Every jurisdiction's IP laws have a procedure for canceling a domain name that infringes on the rights of trademark owners.
In most jurisdictions, IP laws allow trademark owners and brand owners who do not have a registered trademark to have a legal framework for disputing domain registrations that infringe on their rights.
Some jurisdictions have legislation against bad-faith trademark registration, which includes cybersquatting. The ACPA, as described above, is a US statute to protect trademark owners against cybersquatters.
The legislation only applies to cybersquatting situations when someone buys a domain name similar to a certain registered brand to obtain some profit, such as exploiting someone else's popularity or reselling the domain.
In other circumstances, the ACPA does not apply. However, the right holders can still utilize the trademark law to prove the illegal use of the trademarked domain name and register the domain themselves.
Do Crypto Domains expire?
Crypto Domains are Blockchain smart contracts that define how domains are established and used. At the same time, traditional domains rely on DNS, overseen by ICANN, and govern all establishment, utilization, and subscriptions.
Crypto Domains function similarly to traditional domains. However, there are a few crucial distinctions that distinguish them:
- Crypto Domains do not need to be renewed or subscribed to.
- Crypto Domains are unchangeable.
- Any service provider cannot reclaim a Crypto Domain.
- Owners who mint these domains or receive obtain in their wallets have complete control, ownership, and administration rights.
- Crypto Domains are issued on ERC-721, ERC-1155, and BEP-721, BEP-1155 tokens, making them non-fungible tokens.
Since Crypto Domains are minted on blockchain as NFTs, they will unquestionably reside on the blockchain perpetuity unless the holder decides to sell, transfer, or burn them. Blockchain is the most decentralized technology available, so the likelihood of your Crypto Domain being censored or forced to cancel is low.
It is critical to understand how decentralized Crypto Domains are in this situation. The registry and smart resolver contracts are the two key components of Crypto Domains.
The registry functions as a dictionary or map that connects domain names to registrant and resolver addresses. It is the most significant smart contract in Crypto Domains since it specifies ownership rules, gives token metadata, holds a list of all domains, and, most importantly, informs you about how domains are minted.
The registry maintains the following functions, making it an important section to comprehend:
- The domain name.
- The address of the owner.
- Address of the Resolver.
- The operator's address has been approved.
The registry's smart contract was developed without an administrator, so you are the sole owner of your Crypto Domain address, and you can:
- The Domain should be destroyed.
- Create as many Sub-Domains as you can.
- Make a new Resolution.
- Transfer, sell, or exchange domain ownership rights.
A resolver is a database or dictionary that connects domain names to records linked with that domain, such as wallet addresses and other data. The "resolver smart contract" resolves domains and stores domain records such as cryptocurrency addresses, IPFS hashes for decentralized websites, and chat IDs.
The "resolver smart contracts" come in a variety of flavors. Although each Crypto Domain might technically have a distinct resolver address, most domains are maintained by the same smart contract for convenience.
Since most Crypto Domains use ERC-721 protocols, it is identified by a unique number, the tokenID standard, throughout all Ethereum-based NFTs. It is accomplished through Namehashing, a technique that turns a domain name into a readable format.
Crypto Domains never expire. Furthermore, other than the initial purchase cost, there are no expenses associated with owning one.
Because the domain is maintained on the blockchain, there is no way you could be charged an ongoing cost via Unstoppable Domain, Quik.com, or other similar services, unless your Crypto Domain is from ENS domains, which includes subscriptions and renewals.
The cost of purchasing a non-expired Crypto Domain starts at $5 and increases depending on the quality of your domain name. The fact that crypto domains do not expire is a key aspect that distinguishes them from traditional domains and their central power.
When you purchase a traditional domain, you rent server space, which also comes with an annual price. Some providers allow you to pay in advance to secure a domain name for numerous years, but this does not affect the fact that it is rented.
So, what if you don't re-register the domain on time? After a few warnings, it will expire and become public, allowing someone else to purchase the name and erase all your hard work.
That also means that if you continue, you will have to pay for the domain for the rest of your website's life, potentially costing thousands of dollars in renewal costs.
Crypto Domains & Censorship
One of the primary reasons why most users are changing to Crypto Domains is the security of its decentralized design, which makes censorship or cancellation difficult even for the government and other groups.
Nonetheless, there are various methods for censoring a Domain:
- If your domain is added to the blockchain regionally. It can be censored when governments choose which websites are displayed in their country and, if desired, ban access to a domain.
- Our government can sometimes deregister a domain, effectively whipping it out of existence, and they don't hesitate to utilize this ability.
China has blacklisted around 8000 websites, whereas India has blacklisted 14,221 websites globally. On the other hand, decentralized websites hosted with Crypto Domains are resistant to such tampering. I apologize for keeping you waiting, but absolutely.
This occurs for a variety of reasons. The first is that the Crypto Domain address is stored on the blockchain, rendering centralized power, such as the government, unable to control or dictate censorship.
Furthermore, as the domain owner, you influence how the domain is utilized. When you purchase a Crypto Domain, you obtain entire domain ownership.
When your transaction is complete, the domain is automatically transferred to your wallet address and verified on the blockchain. This power to own the domain also provides numerous possibilities for how to use it, including:
- On Web3, you can transfer the domain to anybody or any place you like.
- You can purchase a new domain, sell your current one, exchange it for another, or even trade for NFTs.
- You own your domain, which includes attaching the website content to it, and you can use it to accept digital payments.
Crypto Domains cannot be restricted and do not employ any subscription or renewal plan. Most people gravitate toward these domains due to their decentralized nature and quality, allowing for boundless innovation.
Don't make the same mistake you did with cryptocurrency in the past!
It is better to comprehend the concept before deciding since many people misread the notion of Bitcoin and are now kicking themselves for not investing; why? Because they never comprehended or valued the concept.
We understand that the notion of NFTs is new to you, and you are just getting started with the technology. Therefore, you do not need one right now. But now that we've gotten this far, we hope we've answered most of your questions and helped you fully understand the technology.
We are not telling you to invest because it is entirely your decision and conclusion, but we are here to educate you about the concept so that you may determine what is best for you. Before investing, it is always preferable to first comprehend the notion and then understand its significance.
On the other hand, investment in Crypto Domains has the potential to blend a promising future. If you own a business and want to broaden your technical reach for accepting bitcoin payments, Crypto Domains can help.
It would streamline your payment procedure while increasing brand visibility in the web2 and web3 realms. Yet, it is a worthwhile purchase for Web3 fans, businesses, and independent workers or freelancers.
In this FAQ page, we have gone over the full concept of Crypto Domains, their benefits and drawbacks, their past, present, and future, and all the legal and technical words to help you understand the features and weigh the pros and cons for yourself.
We hope this was useful enough for you to make a decision, and if it wasn't, please let us know in the comments area if you have any questions about Crypto Domains or want any other similar information. We'll do our best to answer them just as we did this!