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What’s The Buzz About Web3 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. Decentralized web also introduces domain names that are different from the traditional domain name system.

They are blockchain based DNS addresses that let 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?

When registering a domain name for web3, users must use an Ethereum wallet which supports ENS. After the domain has been registered, users will be able to set up DNS records for the domain, allowing people to search the website using domain name lookup.

Users should select wallets that support ENS and meet their specific needs, such as MetaMask. MetaMask allows users to manage and store their ERC20 and ETH tokens.

After choosing an Ethereum wallet, users must register their web3 name using a smart contract. Users can create a DNS record once the domain has been registered.

The domain lookup tool can be used to find websites and applications.

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. Name holders 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 which 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?

  • 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 are able to 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 rate each other based upon their interactions.
  • Certificates: A decentralized system can be used to verify and issue credentials, allowing users to vouch 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, by simplifying the experience of the user, it will encourage increased adoption of technology and web3.0