Definition of ‘Unstoppable Domains’ - Unstoppable Domains is a company on a mission to decentralize the web.Unstoppable Domains prioritizes ownership of an individual’s digital identity.
Title: What is Unstoppable Domains?
Unstoppable Domains Definition — Unstoppable Domains is a company on a mission to decentralize the web. They offer decentralized websites and user-owned, blockchain-based domain names that replace cryptocurrency addresses with human-readable URLs.
Unstoppable Domains prioritizes ownership of an individual’s digital identity and simplifies crypto payments.
So what does that mean in real terms?
Well, their goal is to make it easier for people to use cryptocurrencies and to help them take back control of their online identities.
Unstoppable Domains is so simple that anyone who knows how to operate a regular browser should be able to use it — even if they haven't used blockchain technology before.
Its decentralized system also ensures that there's no need for third parties or exchanges to take a cut.
How does Unstoppable Domains work?
In 2020, Unstoppable Domains integrated Chainlink Oracle which allows users to authenticate crypto addresses by connecting their Twitter profiles.
The Chainlink Oracle integration can give power back to the people to control the use of their data; a form of decentralized identities.
Non-fungible tokens (NFTs) are meant to be unique and the ownership verified. Blockchain domains allow verified NFT collections to be hosted on a decentralized website. This way, investors are assured of buying these NFTs from the rightful owner.
Applications that support Unstoppable Domains include Chainlink, OpenSea, Rainbow Wallet, Trust Wallet, Blockchain.com, MyEtherWallet, OKEx, Coinbase Wallet, The Graph, BRD, Cake Wallet and many more. Supported browsers include Chrome, Edge, FireFox, Opera and Brave.
What is the history of Unstoppable Domains?
Unstoppable Domains is a relatively new company, founded in 2018 by Matthew Gould. Their mission is to decentralize the web — and they're already well on their way.
The team behind Unstoppable Domains comes from a variety of backgrounds: marketing, programming, and even law. And they all share a common belief that the current internet infrastructure is too centralized and vulnerable to censorship.
In May 2018, Unstoppable Domains launched their beta product, allowing users to purchase .zil domains.
So far, Unstoppable Domains has raised millions of dollars in funding from investors like Protocol Labs, Draper Associates, BoostVC and Coinbase Ventures.
To date, they’ve also released their main net and created a number of dApps, including Unstoppable Domains Wallet and Unstoppable Sites.
Looking forward, Unstoppable Domains is focused on building out its infrastructure and growing its user base.
They're working to make it easier for people to buy and use blockchain-based domains, as well as creating more applications that take advantage of those domains.
What are the key features of Unstoppable Domains?
Some of the key features of Unstoppable Domains include:
Decentralized websites: Unstoppable Domains offers decentralized websites that are censorship-resistant and immune to takedowns. This is in contrast to traditional website hosting which requires users to rent server space from centralized providers.
User-owned domain names: Unstoppable Domains allows users to own their blockchain-based domain names, which can be used for payments and as online identity.
Simplified crypto payments: Unstoppable Domains makes it easier for people to use cryptocurrencies by allowing them to pay with their blockchain-based domain names.
The goals of Unstoppable Domains are to:
- Make it easier for people to use cryptocurrencies
- Help people take back control of their online identities
- Decentralize the web.
Is Unstoppable Domains safe?
Yes! Unstoppable Domains is built on the Ethereum blockchain and uses a variety of security measures, including smart contracts and cryptography. Plus, your data is always stored locally — it never leaves your computer. And because Unstoppable Domains is decentralized, there's no single point of failure that could take the entire site down.
How much is Unstoppable Domains?
The Unstoppable Domains Wallet is free to use. You only pay when you register a domain name. Prices start at $19.99 and go up to $1000 depending on the length of the domain name, domain type, and gas fees.
Domain names of shorter lengths cost more than the longer ones. In terms of the domain type, ".crypto" types are more expensive than the ".wallet" domain type, for example. When it comes to gas fees, since the domains are stored on the Ethereum blockchain, you will need to pay a gas fee when you want to claim them. That price is influenced by the current price of ETH and how congested the network is at the time of transaction. Because the gas fees are not constant, a cheap domain can cost between $40 to $50 (including the initial purchase cost and gas fee).