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What’s The Buzz About Web3 Domains?

by Reni

Web3 domains have created a stir in the crypto and tech communities. They offer a glimpse of the future internet. These domains represent more than a new method of registering websites. They also represent a shift to a decentralized and user-controlled web experience. This article will explore Web3 domains, their significance, and how they differ from traditional domains.

What Is Web3 Domain?

Web3 domains are domain names registered via a blockchain rather than a traditional domain registry. Decentralization means they are not controlled by a single entity. Web3 domain service examples include Ethereum Name Service and Unstoppable Domains. Web3 (or the read-write trust web) is the third version of the Internet, powered by smart contract technology, cryptocurrency, NFTs, and blockchain to create a decentralized website. It is not centrally controlled but distributed over a network of computers, which makes it more resilient and secure. The decentralized web also introduces domain names that are different from the traditional domain name system.

So, the web3 domain is a blockchain-based DNS address that lets users create and manage personalized domains. These are the addresses of users’ cryptocurrency wallets. The decentralized crypto domain names are non-centralized trading tokens, which users can trade in non-centralized marketplaces.

How To Register Your Web3 Domain?

Registration of a Web3 Domain is a straightforward process, which can unlock many benefits, from simplified crypto transactions to improved digital identity management. Web3 domains offer greater security and control than traditional domains. This is a step-by-step guide to registering your own Web3 Domain:

Step 1: Choose a Web3 Domain Service

First, you need to select a Web3 domain service provider. Popular options include:

  • Ethereum Name Service (ENS): This service allows you to register .eth domains on the Ethereum blockchain.
  • Unstoppable Domains: Offers a variety of domain extensions such as .crypto, .zil, and .blockchain.

Step 2: Set Up a Cryptocurrency Wallet

To register a Web3 domain, you will need a cryptocurrency wallet compatible with the chosen domain service. Common wallets include:

  • MetaMask: A popular browser extension wallet that supports Ethereum and other blockchains.
  • Trust Wallet: A mobile wallet app that supports a wide range of cryptocurrencies.

Make sure your wallet is funded with enough cryptocurrency to cover the cost of the domain registration.

Step 3: Connect Your Wallet to the Domain Service

Once your wallet is set up and funded, visit the website of the Web3 domain service you have chosen. Follow these steps:

Visit the Domain Service Website:

    • Go to the official website of the domain service (e.g., ens. domains or unstoppabledomains.com).

Connect Your Wallet:

    • Look for the option to connect your wallet, usually located at the top right corner of the website.
    • Follow the prompts to connect your wallet (e.g., MetaMask) to the domain service platform.

Step 4: Search for Your Desired Domain

With your wallet connected, you can now search for your desired domain name:

Use the Search Tool:

    • Enter the domain name you want to register in the search bar provided on the domain service website.
    • Check the availability of the domain. If it’s available, you can proceed with the registration. If not, you may need to try a different name.

Step 5: Register the Domain

Once you’ve found an available domain name, you can proceed with the registration process:

Select the Domain:

    • Click on the available domain name to select it for registration.

Initiate the Registration:

    • Follow the prompts to start the registration process. This will typically involve confirming the registration details and agreeing to the terms of service.

Pay the Registration Fee:

    • The registration fee will vary depending on the domain service and the domain name. Ensure you have enough cryptocurrency in your wallet to cover the cost.
    • Confirm the transaction in your wallet (e.g., MetaMask) to complete the payment.

Wait for Confirmation:

    • The registration process involves writing the domain ownership to the blockchain, which may take a few minutes. Once confirmed, you will receive a notification.

Step 6: Configure Your Domain

After successfully registering your Web3 domain, you can configure it to suit your needs:

Access Domain Settings:

    • Navigate to the domain management section on the domain service website.

Set Up Records:

    • Configure various records such as:
      • Address Records: Link your domain to cryptocurrency wallet addresses (e.g., Bitcoin, Ethereum).
      • Content Records: Point your domain to decentralized websites hosted on IPFS or other platforms.
      • Text Records: Add custom text records for additional information.

Manage Permissions:

    • Adjust the permissions for your domain, such as setting up subdomains or transferring ownership.

Step 7: Verify Your Domain

Once your domain is configured, verify that everything is working correctly:

Test Transactions:

    • If you’ve linked cryptocurrency addresses, try sending a small transaction to your new domain to ensure it resolves correctly.

Access Your Website:

    • If you’ve set up a decentralized website, visit your domain to make sure it loads as expected.

 

How ENS Works

The ENS domain is similar to the traditional domain name, but it can be used for decentralized apps, websites, and files stored on the blockchain.

 

Website Ens Domain Registration

The ENS, a new domain naming scheme built on the Ethereum network, allows users to create unique and memorable addresses or usernames. The smart contracts of Ethereum are used to manage domain name resolution and provide supplementary services for the DNS.

The ENS allows the user to create a username that can be used for their decentralized apps and websites, as well as all of their wallet addresses.

ENS uses three types of smart contracts: the registry (registrar), the registrars (registrars), and the resolvers.

Registry – A registry is a top-level contract in the ENS that stores all domain names, and their corresponding smart contracts. The registry also defines rules for registering and maintaining an.eth name, including who can do it, its duration, how to renew, etc.

Registrar – Registrars are contracts that allow users to manage and claim ‘.eth’ domains. It allows users to create subdomains based on certain criteria. Nameholders can outsource names using the permanent registrar concept. There are two types of registrars at present: auction and open.

The Resolver – This is a contract that provides the mapping of an Ethereum address to a domain name ending ‘in.eth’. The resolver returns the Ethereum address when users enter an address or username into their browser or wallet.

The domain owner deploys the resolver contract, which can be modified to alter the mapping. The resolver is a database that stores the mapping of name to record.

Related: Crypto Scalp Trading: The Basics

What are the Advantages of Web3 Domains?

Web3 domains are part of a larger movement towards a more user-centric and open internet. Web3 domains have gained in popularity for some reasons:

  • Gives the User Complete Control of Their Online Identity: Web3 domains are not owned by large organizations or companies but can be purchased by individuals. Users can use their domains to represent their brand or themselves in a more personalized way by using unique identifiers.
  • Web3 Domains are cheaper than traditional domains. Regular domain names start at $6.98.
  • More Secure: Given that they are stored in the blockchain, web3 names can’t be altered or removed by anyone. This makes them perfect for hosting sensitive information or creating censorship-resistant applications. As they don’t have a single point of failure, web3 domain names are more resistant to hacking attacks and other types of attacks.
  • More Private: Web3 domain names can be registered anonymously, unlike traditional domains that are registered with personal information. The user’s identity is not linked to the domain name, which gives them greater privacy on the internet.
  • Future Proof: As the internet shifts to a decentralized model, Web3 domain names are going to become more popular.

Use Cases for ENS

  • Crypto Wallets: The ENS supports all cryptocurrencies.
  • Decentralized Apps and Webs: An ENS domain can be used as the URL of a dApp, similar to a normal URL but without DNS servers.
  • Censorship Resistant Messaging: An email address registered with ENS can be used to send an encrypted message. The message is stored on the blockchain, and only the recipient can decrypt it.
  • Token Swaps: You can swap two different tokens between users without a centralized cryptocurrency exchange since the tokens are both represented by their respective ENS names.
  • Name Registration: Any names (company name or brand name). The ENS is similar to registering a website domain, but it’s on the blockchain.
  • Manage digital identity: The ENS allows users to manage their digital identities, avatars, and data in a decentralized way.
  • Reputation Systems: On the ENS, a decentralized reputation system is possible to build to allow users to rate each other based on their interactions.
  • Certificates: A decentralized system can be used to verify and issue credentials, allowing users to vouch for the authenticity of a certification without the need for a centralized authority.

Conclusion

ENS is a key player in reducing technical complexity in blockchain technology. It does this by replacing unwieldy alphanumeric code with usernames that are human-readable. Moreover, simplifying the experience of the user will encourage increased adoption of technology and web 3.0. Web3 domains are an exciting development in the evolution of the internet. By leveraging blockchain technology, they offer greater security, control, and resilience against censorship. As the Web3 ecosystem continues to grow, these domains are likely to play a crucial role in shaping a more decentralized and user-empowered Internet. Whether you are a tech enthusiast, a cryptocurrency user, or someone interested in the future of the web, understanding and exploring Web3 domains could be a valuable step forward. 

 

 

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