Discover the Power of a Web3 Domain

A Web3 domain, also known as a decentralized domain or blockchain domain, is a type of domain name that is stored on a decentralized blockchain network, rather than the traditional centralized domain name system (DNS) used for most internet domains.

Unlike traditional domain names, web3 domains are not managed by a central authority or registrar, but instead are stored on a blockchain network, such as Ethereum. 

They are typically registered using cryptocurrency and are owned and controlled by the individual who holds the private key to the domain name.

Web3 domains can be used for a variety of purposes, including hosting decentralized websites, creating decentralized applications (dApps), and managing decentralized identities. 

They provide a way to create a more decentralized and censorship-resistant internet, where users have more control over their online presence and data.

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Web3 Domains Advantages

There are several advantages to using web3 domains for various use cases:

Decentralization: Web3 domains are decentralized, meaning that a single entity or authority does not control them. This provides greater transparency and reduces the risk of censorship, hacking, or single-point failures.

Greater User Control: With web3 domains, users have greater control over their data and identities, reducing the risk of data breaches or identity theft. This is particularly important for applications that require robust identity verification or privacy, such as financial transactions or personal communications.

Security: Web3 domains use strong cryptography and digital signatures to secure transactions and data. This makes them more resistant to hacking, fraud, and other security threats.

Trustless Transactions: Web3 domains allow for trustless transactions, meaning that parties can transact with each other without the need for intermediaries such as banks or payment processors. This reduces transaction fees and processing times and can be particularly useful for cross-border transactions or peer-to-peer marketplaces.

Innovation: Web3 domains provide a platform for innovation and experimentation in various industries, from finance to social media to gaming. With a decentralized infrastructure and open-source development tools, developers can create new applications and services that were not possible before.

Overall, web3 domains offer several advantages over traditional centralized systems, including greater security, privacy, and user control. As blockchain technology continues to evolve, we expect to see more innovative and creative use cases for web3 domains in the future.

In the meantime, we are going to present you the use cases that you can start using straight away.

Web3 Domains Disadvantages

But, when compared with Web2 domains, the Web3 domains have some disadvantages:

Technical complexity: Setting up a Web3 domain requires technical expertise, including familiarity with blockchain technology, smart contracts, and cryptocurrency wallets.

Limited functionality: Web3 domains are currently limited in terms of their functionality compared to traditional domains. They cannot support some features, such as email or file hosting, that are available with traditional domains.

Web3 Domains Use Cases

Web3 Payments

Web3 domain payments refer to payments made in cryptocurrency or other blockchain-based assets to acquire a domain name registered on a decentralized domain name system (DNS) or blockchain-based naming service.

In traditional internet DNS, domain names are managed by centralized organizations such as the Internet Corporation for Assigned Names and Numbers (ICANN), which charges domain registration and maintenance fees. 

In contrast, decentralized DNS or blockchain-based naming systems, such as the Ethereum Name Service (ENS), allow users to register and manage domain names on a blockchain network, with ownership secured by digital signatures.

When making payments for web3 domain names, users typically send cryptocurrency or other blockchain-based assets to the ENS registrar or the domain owner’s address on the blockchain. 

Web3 payments with Web3 domain in Metamask

These transactions are recorded on the blockchain network, making them transparent, immutable, and resistant to censorship or fraud.

Web3 domain payments are a part of the broader trend towards decentralized finance (DeFi) and using cryptocurrencies and blockchain technology for peer-to-peer transactions without intermediaries. 

They give users greater control over their domain names and reduce the reliance on centralized organizations for domain name management.

Web3 Websites

Web3 websites, decentralized websites, or dApps (decentralized applications) run on a blockchain network or a decentralized protocol. 

They are built using decentralized technologies such as Ethereum, IPFS (InterPlanetary File System), or other blockchain-based platforms.

Unlike traditional websites, which are hosted on centralized servers and controlled by a single organization, web3 websites are distributed across a network of nodes, making them resistant to censorship, hacking, and single-point failures.

Web3 websites can be used for various purposes, such as social networks, marketplaces, messaging apps, gaming platforms, and more. 

They offer a range of benefits, including increased security, privacy, and user control over data.

Web3 domain used to host a decentralized website

Web3 apps (dApps)

Web3 decentralized apps, or dApps, run on a decentralized infrastructure like a blockchain network or a peer-to-peer protocol. 

Unlike traditional apps, which are hosted on centralized servers and controlled by a single entity, dApps are distributed across a network of nodes, making them more resistant to censorship, hacking, and single-point failures.

Here are some examples of web3 decentralized apps:

– Decentralized Finance (DeFi) dApps: These include decentralized exchanges, lending platforms, and prediction markets, among others. DeFi dApps allow users to transact with each other without the need for intermediaries such as banks or payment processors and can be particularly useful for cross-border transactions or peer-to-peer marketplaces.

Some Finance dApps examples are:

Uniswap is a decentralized exchange (DEX) built on the Ethereum blockchain. It allows users to trade ERC-20 tokens without needing a centralized exchange.

OpenSea is a decentralized marketplace for buying, selling, and trading non-fungible tokens (NFTs). It allows users to create and sell their own NFTs and buy and sell NFTs created by others.

– Decentralized Identity dApps: These include applications allowing users to create and manage decentralized identities controlled by the user and secured by digital signatures. This can be useful for applications that require robust identity verification, such as voting systems, banking, and e-commerce.

– Decentralized Storage dApps: These include applications that allow users to store and share data in a decentralized manner, using protocols such as IPFS (InterPlanetary File System) or blockchain-based storage solutions. Decentralized storage dApps provide greater security and privacy and reduce the risk of data breaches or single-point failures.

Some Decentralized storage dApps examples are:

IPFS (InterPlanetary File System) is a decentralized storage network that allows users to store and access files using a distributed network of computers. It uses a content-addressed system to ensure that files are always available and cannot be tampered with.

Filecoin is a decentralized storage network that allows users to store and retrieve data using a blockchain-based protocol. It uses a proof-of-replication and proof-of-spacetime consensus mechanism to ensure that files are stored securely and can be retrieved quickly.

– Social Media dApps: These include decentralized social networks that resist censorship and give users greater control over their data. These dApps can be helpful for applications that require strong privacy or security, such as political activism or whistleblowing.

Some examples of Social Media dApps examples are:

Steemit is a blockchain-based social media platform that allows users to create and share content and earn cryptocurrency rewards for their contributions. It uses a decentralized governance system to ensure that content is moderated fairly.

Minds is a decentralized social media platform that allows users to connect and interact with each other and share and discover content. It uses a reward system to incentivize users to create and share high-quality content.

– Gaming dApps: These include decentralized gaming platforms that allow users to play games and trade virtual assets using cryptocurrency. Gaming dApps can provide greater security and fairness and reduce transaction fees and processing times.

Some Gaming dApps examples are: 

Gods Unchained is a blockchain-based collectible card game that allows players to build decks and battle each other for rewards. It uses a decentralized market to allow players to trade cards with each other.

Axie Infinity is a blockchain-based game that allows players to collect, breed, and battle creatures called Axies. Players can earn cryptocurrency rewards by winning battles and participating in tournaments.

Decentraland is a blockchain-based virtual world that allows players to explore, build, and interact with each other. It uses a decentralized marketplace to allow players to buy and sell virtual land and other items and assets.

Web3 Usernames

Web3 usernames are unique identifiers that allow users to easily interact with decentralized applications (dApps) and services on the blockchain. Unlike traditional usernames and passwords, web3 usernames are tied to a user’s wallet address and private key, which provides enhanced security and eliminates the need for centralized authentication.

Web3 usernames can be used for a variety of purposes, including:

Accessing dApps: Users can use their web3 usernames to log in to various decentralized applications, such as decentralized exchanges (DEXs), gaming platforms, and social networks.

Sending and receiving cryptocurrency: Web3 usernames can be used to send and receive cryptocurrency between users on the blockchain. This eliminates the need to remember complex wallet addresses and ensures that transactions are sent to the intended recipient.

Decentralized identity: Web3 usernames can also be used to establish a decentralized identity on the blockchain. This allows users to prove ownership of their data and control who has access to it.

Unstoppable Web3 Domains

Unstoppable Domains is a decentralized domain name registry that operates on blockchain technology. The platform allows users to register and manage decentralized domain names that are stored on the blockchain and can be used to create uncensorable websites and applications.

Unstoppable Domains uses non-fungible tokens (NFTs) to represent domain names, which can be purchased and transferred between users. Once a domain name is registered, it can be linked to a user’s cryptocurrency wallet or other decentralized applications.

The platform also provides a decentralized domain name resolution system, which allows users to access decentralized websites and applications using traditional web browsers such as Chrome and Firefox. This system uses blockchain-based protocols to ensure that domain name ownership is transparent and secure, and that domain names cannot be censored or hijacked by third parties.

Web3 Domain can be used as Username
Web 3 Domain can be used for crypto payments
Web3 Domain can be used to host a Website
Web3 Domain can be used as profile

How to buy your Unstoppable Domain

Choosing and buying an Unstoppable Domain is very straightforward.

You need to search for the name you want and the name availability and extensions will be shown. As well as the prize, which will vary depending on the name.

No need of lengthy explanations, the best is for you to just give it a try: Choose a name and add it to the cart.

Unstoppable Domains Search page

If you are decided to buy a Domain, Unstoppable Domains give three payment options:

– Card

– Paypal

– Crypto: ETH, LTC, USDC, BTC, DAI, BCH, MATIC USDC, wETH and DOGE are accepted

– Crypto.com

Only after the payment is completed, the domain claim process is completed.

Claiming is the process of registering a Web3 domain to the blockchain. 

When you create an Unstoppable account, they will generate a new wallet address for you and mint the domain to that wallet address.

This is an advantageous process because people without blockchain or cryptocurrencies experience can mint a Web3 Domain. The only thing that you need to consider is that the Unstoppable wallets are centralized, and if the platform goes down, you lose access to the domains your have purchased.

Unstoppable Domains Checkout page

The good news is that you can transfer you domain to your own crypto wallet at any time.

Unstoppable Domains recommend to use the Metamask or Coinbase wallets.

Once in you own wallet, you are the sole owner of the domain, but you can use the Unstoppable Domains platform to manage it. Like, for example, update the Domain records or using the Unstoppable Domains templates to create a Web3 Website.

Unstoppable Domains Advantages

As users of Unstoppable Domains, this is what we consider as advantages:

– Anyone, even people without blockchain or crypto knowledge, can purchase a Web3 Domain. The Unstoppable Domains processes are very simple and user-friendly.

– Unstoppable Domains pays for the gas fees (Polygon). For you, the user, there are no costly gas fees. You can update the domain records at any time without fees, you can create and update your web3 website at any time without gas fees…

– Using the Unstoppable Domains templates, you can create a Web3 website within minutes. But, note that it will be a very basic website. Still, being able to deploy a web3 website with no coding skills is very handy. And if you have the HTML code you can always publish a more complex website to IPFS at any time.

Unstoppable Domains Web3 website templates

– You can use your domain name as an address to receive cryptocurrency payments or donations. But, note that there are some limitations that we consider as a disadvantage.

Unstoppable Domains Cryptocurrency Addresses

Unstoppable Domains Disadvantages

As users of Unstoppable Domains, this is what we consider as disadvantages:

– Some of the most common wallets, like Coinbase, Metamask, or Binance do not support Unstoppable Domain names. This is, with those wallets you cannot send cryptocurrency to an Unstoppable Domain name. The Unstoppable Domains Integrations filter is a handy tool to determine if your applications are supported.

Metamask wallet does not recognize .crypto domains

In general, and this not apply only to Unstoppable Domains, there is not yet a use case that gives to Unstoppable Domains name a ‘must-to-have’ definitive advantage.

While having an Unstoppable Domain name is a very good way to start dipping into Web3 and Web3 technology, at the moment having a decentralized domain name is just an optional ‘good-to-have’.

ENS Web3 Domains

ENS stands for Ethereum Name Service, which is a decentralized domain name system (DNS) that operates on the Ethereum blockchain. ENS allows users to register and manage domain names that are stored on the Ethereum blockchain and can be used to create decentralized applications and websites.

When a user registers a domain name on ENS, they receive a unique Ethereum address that is associated with that domain name. This address can be used to receive cryptocurrency payments, participate in decentralized applications, and interact with other users on the Ethereum blockchain.

One of the key benefits of ENS is that it is decentralized, meaning that there is no central authority that controls domain name registration or management. This makes ENS more resistant to censorship and control by third parties.

ENS Web3 Domain used as username
ENS Web3 DOmain used to point to a decentralized website

How to buy your ENS Domain

To choose and buy an ENS domain, your need to navigate to the ENS App.

You can choose and name and check if it is free or already taken. But note that any further steps, like registering a name, does require a cryptocurrency wallet.

ENS domain name

Payments are to be done in Ethereum (ETH) so you need to make sure that you have enough Ethereum to pay for the domain registration costs and the gas fees.

The minimum domain registration period is one year. The maximum domain registration period is hundreds of years but the largest the period the bigger will be the cost.

As an example, we have registered the domain name cryptosafetyfirst.eth for a period of three years and the cost has been.

– Commit: 1.19 EUR gas fees

– Register with Config: 0.01053128 ETH and 8.42 EUR (0.00577 ETH) in gas fees

– Set Name: 3.30 EUR (0.002443 ETH) in gas fees

– Multicall: 4.07 EUR (0.003015 ETH) in gas fees

Any change to our domain, for example updating a cryptocurrency address or adding avatar, or adding keywords, will require to pay fees. This is because the changes have to be added to the blockchain and this requires to pay fee costs.

ENS Domains Advantages

As users of ENS Domains, this is what we consider as disadvantages:

– Ethereum is one of the most widely adopted blockchain and having an Ethereum domain name 

ENS Domains Disadvantages

As users of ENS Domains, this is what we consider as disadvantages:

– Making any changes to an ENS Domain can be costly, because of the gas fees. 

– ENS Domains require renewal. You do not buy a domain name your, instead you register (rent) it for a period of 1, 3, 5, 10 or even more years but eventually you will need to extend the registration period. 

ENS Domain name registration period

The same as for Unstoppable Domains, also for ENS Domains there is not yet a use case that gives to an ENS Domain name a ‘must-to-have’ definitive advantage.

While having an ENS Domain name is a very good way to start dipping into Web3 and Web3 technology, at the moment having a decentralized domain name is just an optional ‘good-to-have’.

Should you buy a Decentralized Domain Name?

Buying a Decentralized Domain name has a cost and, at the moment, limited advantages.

So, is there any major reason for buying a Decentralized Domain name nowadays?

The answer is, YES.

Web3 and Blockchain technologies are here to stay and bring a wide array of benefits and opportunities.

But you need to be ready to get the most from those benefits and grab those opportunities. And having a Web3 Domain, learning how to use it, use it and learning how to…

Web3 Domains Frequently Asked Questions

The questions from other people are windows to knowledge that maybe we need, but we never consider we missed.

To transfer ownership of your web3 domain, you will need to use a smart contract on the blockchain that manages ownership of the domain. You will need to transfer the private key associated with the domain to the new owner.

Web3 domains can be used with different blockchain platforms, as long as the platform supports the specific TLD associated with the domain.

Web3 domains are registered on a blockchain, whereas traditional domain names are registered with a centralized domain registrar. Web3 domains also offer decentralized ownership and interoperability with different blockchain platforms.

Web3 domains are expected to play an important role in the growth of decentralized applications and the adoption of blockchain technology. As more people begin to use decentralized applications, the demand for web3 domains is expected to increase.

Yes, you can register multiple web3 domains, as long as the domains you want are available and you are willing to pay the registration fees.

If you lose access to your private key, you will not be able to make any changes to the ownership or configuration of your web3 domain. It is important to keep your private key secure and to have a backup in case of loss or damage.

Web3 Domains Terminology

There are some term that every Web3 domains users should be familiar with. 

Web2 and Web3 share many terms but there are significantly differences between Web2 and Web3 domains.

A domain resolver is a tool that translates a domain name into an IP address. In the case of web3 domains, a domain resolver is used to translate a blockchain domain name into an Ethereum address.

A domain registrar is a company that manages the reservation of domain names on the internet. In the case of web3 domains, there is no central registrar because ownership is managed on the blockchain.

The part of a domain name that appears after the last dot, such as .com, .org, or .net. Web3 domains use different TLDs that are registered on specific blockchains, such as .crypto and .eth.

In the context of web3 domains, ownership refers to the control of the private key associated with a particular domain name. Only the owner of the private key can make changes to the domain name or transfer ownership to another party.

Web3 domains are transferable, meaning they can be sold or transferred to another party just like traditional domain names. The transfer of ownership is managed through the blockchain using smart contracts.

Web3 domains can be used across different blockchain platforms, allowing for interoperability between different decentralized applications and ecosystems. This is because the ownership and transfer of web3 domains is managed through the blockchain, which is a universal technology that can be used by different blockchain networks.

How to Keep your Web3 Domains Safe

Now that you have a Web3 Domain name, think what would be the consequences if you lose access to it.

Increase your safety knowledge to keep your Web3 Domains safe from hacks, scams and accidents.

Seed phrase

Learn what is a seed phrase and why it is so important.
KNOWLEDGE

Wallet private keys

Learn why your wallet's private keys are so important.
KNOWLEDGE

And don’t forget to also learn about digital safety good practices because the more good digital safety practices you follow, the more secure your digital assets will be.

Two-factor authentication

Use 2FA to keep your digital accounts safe from hacks.
GOOD PARCTICES

Strong and unique passwords

Find out how safe your password is and how to make it stronger.
GOOD PRACTICES

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