Facilitating NFT Domain Names for the New Web3
One of the long-standing issues with Web3 and cryptocurrency technologies is their accessibility.
There is a lot of talk about blockchain technology, cryptocurrencies, and NFTs. Still, only a few people are familiar with the terms and applications of these technologies.
The world, however, is looking into how to make blockchain technology more universally accessible. One way accessibility has improved is by the replacement of complex cryptocurrency addresses with human-readable names.
Sending cryptocurrency to a wallet may be difficult because you must not only remember the correct address but also carefully check each string of numbers and letters that comprise the wallet address.
Unstoppable Domains aims to solve this problem with its blockchain domain names. It intends to be the domain address of the future by providing complex cryptocurrency addresses with a name that is understandable to regular people.
This article comprehensively examines Unstoppable Domains, its features, and how it facilitates NFT domain names for the new Web3.
What is “Unstoppable Domains”?
Unstoppable Domains, based in San Francisco, was founded in 2018 by Matthew Gould, Bogdan Gusiev, Bradley Kam, and Braden Pezeshki.
Unstoppable Domains is a web address that uses blockchain domains to link Web2 and Web3. Unstoppable Domains imitate the Domain Name Service (DNS) system, allowing users to browse websites without knowing their IP addresses. However, it does not employ Domain Name Services (DNS) as traditional websites do.
Unstoppable Domain uses the blockchain-based crypto name service (CNS) to deliver human-readable domain names representing crypto wallet addresses.
They are not only used as payment hub addresses where users can receive over 275 different cryptocurrencies and tokens. These domains are also used to host fully functional websites that incorporate decentralized apps (dApps).
How Does “Unstoppable Domains” Work?
Unstoppable Domains offers a self-owned and managed internet domain by utilizing non-fungible tokens (NFT) and smart contract technologies. The Crypto Name Service (CNS), a collection of Ethereum smart contracts that govern the creation and use of blockchain domains, serves as the foundation of Unstoppable Domains.
Each CNS domain comes with an ERC-721 token, sometimes referred to as a “non-fungible token” (NFT). The ERC-721 standard makes it simple for developers to integrate Unstoppable Domains into other apps. Due to the ERC-721 standard, users can also manage their ownership of crypto domains from compatible cryptocurrency wallets, exchanges, and markets.
The Crypto Name Service (CNS) makes use of two smart contracts:
- The Registry contract
- The Resolver contract
The Registry contract governs the creation and ownership of brand-new crypto domains and subdomains. There is no administrator specified in the Registry contract; therefore, no entity, not even Unstoppable Domains, is permitted to administer or transfer your domains without your consent.
The Resolver contract, on the other hand, is used to resolve domains, which involves converting the human-readable name into a cryptocurrency address and storing domain records.
Unstoppable Domains make use of the following top-level domain (TLD) extensions:
What are the Features of Unstoppable Domains?
Here are some of the unique features of Unstoppable Domains
- One-time purchase
- Censorship resistant
- More functionality
- Single login for the entire web
Unlike traditional domain ownership, which requires you to renew your membership yearly, this is a one-time purchase with no annual renewal.
Once a user has completed the initial purchase procedure for their domain, the domain name and address are permanently valid. There are no renewal fees.
The domain cannot be deleted by anyone other than the owner because it is censor resistant.
The domains can be used as a payment router to develop websites with dApps built directly on them, giving them greater functionality than standard domains.
The ability of Unstoppable Domains to give you a single address through which to receive 276 different crypto assets may be its best and most alluring feature. Once this feature is set up, all you will need to remember is your domain name, and payments will be sent to the wallets you create for each cryptocurrency. Making things easier for everyone who wants to send you money, not just you.
The domains are based on the blockchain; therefore, they are just as secure as the blockchain itself. Unstoppable Domains addresses can be created on the Polygon, Zilliqa, and Ethereum blockchains.
Single login for the entire web
You are given a single address through which you can send and receive 276 different cryptocurrency assets. This means that to get any cryptocurrency of your choice, all you will need to know is your domain name.
You can also use your domain for other apps and services on the blockchain. There are already hundreds of dApps integrated into the domain. Some Web2 programs, such as games, metaverses, and e-commerce websites, also support Unstoppable Domains.
How “Unstoppable Domains” Facilitates NFT Domain Names for the New Web3
Unstoppable domain facilitates user adoption of Web3, NFTs, and cryptocurrencies. Unstoppable Domains aims to make cryptocurrency simple to use and accessible to all. As a result, you can bypass the complicated process of memorizing all the characters in your wallet address while avoiding errors.
With Unstoppable Domains, you can create a blockchain-connected web address similar to a URL. It converts the addresses from long strings of hexadecimal characters into shorter, human-readable names.
Unstoppable Domains provides straightforward web addresses that do not require knowledge of a recipient’s public key address, which is a cumbersome and lengthy string of letters and numbers. This considerably simplifies cryptocurrency transactions on the internet.
Unstoppable Domains also allow users to build decentralized websites and upload them to the peer-to-peer InterPlanetary File System (IPFS), a distributed file storage and sharing system.
In contrast to traditional online domain providers, Unstoppable Domains facilitates Web3’s decentralized feature by giving you complete control over the domains you create. Unstoppable Domains allows you to buy a crypto domain and own it permanently rather than just renting it.
How to Purchase an Unstoppable Domain
You can purchase your unstoppable domain from the Unstoppable Domains website. You create a non-fungible token (NFT) when you buy this domain. The domain you mint is, therefore, unique and yours forever. Here is a step-by-step guide on how to purchase a domain name from Unstoppable Domains.
Step 1: Search for a domain name
To begin your search for domains, visit unstoppabledomains.com. You can select a domain from a list of suggested domain names or conduct a domain search and add multiple domains to your shopping cart. Unstoppable Domains will offer a few alternatives if the domain you want is unavailable.
Step 2: Choose a TLD
Choose the TLD (.crypto or another) that you want. Although “.crypto” is the default domain ending, you can choose from a variety of other options such as “.nft,” “.888,” and so on. Each domain ending has a different price.
Step 3: Create an Unstoppable Domains account
You must create an account with Unstoppable Domains before proceeding with your purchase. Either connect your wallet or sign up using your email address.
Step 4: Select your payment method
Unstoppable Domains accepts credit cards, PayPal, cryptocurrencies, and payments made through the Crypto.com app.By clicking on your desired TLD, you can see the exact amount to transfer and the cryptocurrency address to which the funds should be sent.
Step 5: Mint your domain
After purchasing a domain, you must maintain it on the blockchain. To mint your domain name for free, go to “My Domains” and select “Free mint.”
How Much Do “Unstoppable Domains” Cost?
It should be noted that buying a domain is a one-time expense that does not require annual renewal. The price of Unstoppable Domains is determined by two factors: the cost of the domain name and the gas fee.
The first factor to consider is the cost of the domain name itself. This cost can range from $20 to well over $1000, depending on the domain you select.
The price is determined by the domain type, such as “.crypto,” “.bitcoin,” or “.wallet,” as well as the length of the domain name; shorter domain names are more expensive. Premium domains are also available for thousands of dollars.
The next consideration is the gas fees associated with claiming your domain via the Ethereum blockchain. The cost of your gas will vary depending on the price of ETH at the time of the transaction and network congestion.
In a nutshell, you can probably buy and register a cheap one. For less than $50, you can get a crypto domain.
- Unstoppable Domains was created to convert complex crypto addresses into human-readable names.
- Unstoppable Domains is built on Crypto Name Service (CNS), which uses two smart contracts: the Registry and the Resolvers. Unstoppable Domains have various top-level domain (TLD) extensions, which include .crypto,.888, and.bitcoin, among others.
- These domains facilitate accessibility on Web3 and promote decentralization as domains are managed solely by the owner.
- Purchasing a domain is a one-time expense and does not require annual payments.
Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.
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