We have prepared an Unstoppable Domains review to introduce you to the new technology. The world of crypto is constantly evolving. New products and services are being developed that will determine the direction of the world. NFT domains are the answer to the long-standing problem associated with crypto networks. That problem, of course, is crypto addresses.
The essence of the problem with cryptocurrency addresses
Cryptocurrency transactions have the distinction of being irreversible. So if you send bitcoins and make a mistake entering the address, the cryptocurrency has no chance of reaching its destination. A bitcoin address can contain 32-33 characters, considering lowercase and uppercase letters and numbers. In such a long string of characters, it is not difficult to make a mistake. In the case of Ethereum and other ERC20 tokens, it is even worse, as the address consists of a string of 42 characters.
Of course, you can use the old-fashioned copy-paste method for cryptocurrency transactions and thus get rid of the problem of precise address input. However, Unstoppable Domains has created a service that will reduce your stress and allow you to replace a complicated cryptocurrency address with a human readable name.
Why use blockchain domain names?
Aside from the ease of reading blockchain-based domain names compared to standard crypto addresses, there are also security issues. The seemingly safe copy-paste procedure can prove disastrous. This is because hackers are constantly creating malware that can change the contents of the system clipboard on the fly. Imagine that you want to receive BTC. You give the contractor your previously copied address. However, the pasted address has been altered by malware. Your counterparty sends the funds, and you don’t receive them, because they just arrived in the hacker’s account. It’s a black scenario, but such situations happen every day, and unfortunately, they can’t be undone.
So remember to always verify the string of your cryptocurrency address when copying and pasting. Or get your unstoppable domain to make your crypto payments easier.
What are blockchain domains?
Crypto domains are a novelty in the Internet world. Unstoppable Domains has created a new type of Internet domain. In essence, these domains are based on a group of smart contracts on the Ethereum network. Replacing traditional DNS, Unstoppable Domains uses Crypto Name Service (CNS).
Is unstoppable domain an NFT?
Each CNS crypto domain functions as an emitted ERC-721 token. These tokens are so-called NFTs, or non-fungible tokens. Each such token is unique, not even 2 identical ones exist. This provides an additional layer of security for blockchain domains. They can be stored in a cryptocurrency wallet, as they give the user full ownership. Traditional Internet domains are registered in a centralized manner. In fact, when you register a traditional domain, you are actually renting it for a specific period of time through a domain registrar.
Is Unstoppable Domains legit?
Like many blockchain technology companies, Unstoppable Domains has settled in San Francisco and has been operating since 2018. As of now, more than 2.4 million crypto domains have already been registered with Unstoppable Domains. If this number doesn’t impress you, consider the fact that the main investors in this project include Draper Associates, Boost VC, Coinbase Ventures and Protocol Labs. These companies are investing in promising startups in the crypto sphere.
Unstoppable Domains is the undisputed leader in the blockchain domain space. Their crypto domains can be used as a cryptocurrency payment address, website address, username in various applications and websites. There are even more possible uses, and this list is sure to grow. Matthew Gould and Bogdan Gusiev have headed the Unstoppable Domains team since its inception.
Why are crypto domains so hot today?
Some of you probably remember the early days of the Internet and the days of the first dotcoms. It was popular then to invest in domains. Yes, people were buying various domains on a massive scale. The goal was one. To hit with a name that would later sell for thousands or even millions of dollars.
The Internet Corporation for Assigned Names and Numbers or ICANN for short is an international organization that oversees the entire DNS system of traditional domain names. Nowadays, it is difficult to find an interesting domain name for many business activities, especially in popular domain extensions such as .com for example.
Quite a few people especially those screwed into blockchain see huge potential in crypto domains. Large corporations also see potential in next-generation domains. E.g. in August 2021 Budweiser bought the NFT domain beer.eth for 30 ETH! There will be more and more such cases.
How to buy unstoppable domain?
Buying NFT domain is very easy thanks to Unstoppable Domains user interface. Here are the steps needed to register a new crypto domain:
- First, log in or register on Unstoppable Domains.
- In the search engine on the Unstoppable Domains home page, enter the domain name and click Search.
- Add your domain to the cart with the domain extension of your choice. Note that different domain endings may have different prices. The same is true, moreover, for traditional domains.
- The final step is to finalize the payment. These are handled by Stripe.
How much does an NFT domain name cost?
Prices for crypto domains on Unstoppable Domains start as low as $10 for a .blockchain domain and can cost $40 for a .crypto domain or $100 for a .x domain. Depending on the length of the name, prices can also be higher. For premium domains with a short name and high marketing potential, the starting price can be as high as $100,000.
What crypto domain extensions are available on Unstoppable Domains?
Domain names have, as with traditional domains, their endings or, in other words, extensions. It’s that part of the domain name after the period. Unstoppable Domains allows for mock domain names with the following endings: crypto, nft, wallet, blockchain, x, bitcoin, dao, 888 and zil.
What’s next after buying an unstoppable domain?
To fully enjoy owning a blockchain domain you still need to connect a wallet, mint the domain and add crypto addresses. The entire process is described in detail on the Unstoppable Domains website with various ways to perform the mentioned steps.
Connecting your wallet with purchased domain
First, go into your account settings.
Click Add Wallet.
Follow the instructions displayed while making the connection.
What does minting a domain mean?
Once you buy a domain, you have it in the Unstoppable Domains panel. Now it’s a matter of getting the domain saved on the blockchain, so you can enjoy full ownership. Minting a domain gives you full control of ownership using your crypto wallet. The minted domain becomes yours forever. Minting a domain while on Ethereum involves a gas fee. However, Unstoppable Domain supports free minting on Polygon network.
It is recommended to mint the domain to MetaMask or Coinbase Wallet. To mint to Polygon network, click Free Mint which you will find next to your domain name on the My Domains subpage.
How to connect crypto addresses to your new domain?
- Visit the My Domains subpage.
- Click Manage next to the selected domain.
- Add the addresses of your cryptocurrencies that you want to have linked to the domain. If you don’t see the cryptocurrency you would like to add, press Add Currency and search for the appropriate token.
- Finally, confirm your changes and sign the transaction using your wallet.
- The changes you made will be saved on the blockchain within 10 minutes.
What cryptocurrencies are supported by Unstoppable Domains?
NFT domains support more than 200 major coins and thousands of tokens from different networks like ERC20, BEP2 and BEP20, Solana, Omni or Ethereum Classic. For a full list of tokens, see the Unstoppable Domains documentation.
Website on the crypto domain name
Blockchain domains are still a fledgling baby. Not all applications or exchanges are already taking advantage of the opportunities that flow from crypto domains. However, this fledgling baby is growing rapidly, and blockchain-related companies are increasingly eager to integrate their solutions with crypto domains. Exchanges like OKEx, Okcoin and crypto wallets like Huobi, Bitcoin.com already support crypto domains. A marketplace with NFT run by OpenSea is also using them.
A website can also be built on the domain, of course. Interface Unstoppable Domains allows you to create such a site in a few steps. Just go to My domain -> Manage and click Create Website. There are several types of static page templates to choose from: Personal, For Sale, Coming Soon and Blog. Once you have selected the appropriate template, you can edit it as you wish. Publish the final version by clicking Publish to IPFS.
It is also possible to upload files with a static page and publish them under an unstoppable domain. However, be aware of the limitations. It cannot be a page with dynamically generated content using a database.
On which browsers will the nft domain website work?
Websites built on blockchain can be displayed natively in the Opera and Brave browsers. If you use browsers such as Chrome, Edge or Firefox, you will need to install the Unstoppable Domains browser extension. After installing the add-on, visiting decentralized websites will become possible.
The pros and cons of blockchain-based domains
Our Unstoppable Domains review can’t miss pointing out the pros and cons of owning a crypto domain. So let’s cut to the chase.
Pros of Unstoppable Domains
- By owning a minted domain you have it in your portfolio and you own it 100%. Of course, you must remember that by losing access to your wallet, for example, you can also say goodbye to your domain.
- Crypto domains are very secure as is all blockchain technology. Your domain is not able to be blocked or censored by anyone.
- You buy a crypto domain once and pay for it once. You don’t have to renew the domain every year and pay for it like with traditional domain names.
- At Unstoppable Domains you can pay for your domain using regular payment methods like credit card or PayPal. It is also possible to finalize the transaction using cryptocurrencies.
- The domains you own are yours. It also means that you can sell them at any time. You may also be able to make money from selling your domains. Marketplaces such as OpenSea or Mintable allow you to pre-sell NFT domains.
- Sending and receiving crypto using a human-readable address is a pleasure. This can also constitute your new payment getaway.
Cons of Unstoppable Domains
- Prices of crypto domains on Unstoppable Domains sometimes vary. It may happen that the domain you dream of is beyond your budget.
- At this point, there are not many uses for NFT domains. They are great for collectors or facilitating the transfer of cryptocurrencies. More implementations are already coming, so soon I hope this drawback will disappear from the list.
The future of crypto domains
Web 3.0 based on blockchain is just being built. One can imagine the new world in a few years. It is likely that everyone then will have their own crypto domain and, using it, will use hundreds of services that currently require separate usernames and passwords.
These crypto domains can serve as an identity document in a broad metaverse, and they can help make various payments, including business payments. It’s hard to say which way it will all go. However, it is worth considering the decision to purchase a crypto domain today. The reason is mundane and supported by the past as we know it in the traditional domain market. String combinations are limited, and john.crypto looks far better than john21031983.crypto. Therefore, if you are considering a buying decision, decide now before someone picks up your dream crypto domain name.