The goal of Web 3.0 is to bring the decentralization revolution to life. And blockchain domains serve as the bridge we need to bring the internet of tomorrow into reality.
The DNS, Domain Name System, ensures that the intended website is reached when a domain is typed into a browser. All domain names are managed centrally by the ICANN registry for this reason. The IP address of the accompanying web server is provided for each registered domain. When we type in a URL, the DNS looks for the IP address and shows the relevant webpage.
The same concept applies to blockchain domains. The domain’s ownership is recorded in the blockchain. When a website is accessed, the browser can search the ledger to see which applications are associated with the domain without calling up a central database. So, because blockchain domains are Non-Fungible Tokens (NFTs), the technology is also known as NFT domains.
Quik.com Launches Minting of NFT Domains
Advantages of Blockchain Domains
A registrar rents a domain name for a traditional website. The registrar registers domains in your name with ICANN for the term of the rent – usually one year. To keep the domain, you must pay an annual fee. Otherwise, the domain will be made available to the general public again.
On the other hand, Blockchain domains can be purchased rather than leased. The transaction is verified in the ledger, and the domain remains in the owner’s possession until they decide to sell it. Also, users can keep track of different transactions throughout time, making the system tamper-proof.
Since the blockchain system is decentralized, no single institution (including ICANN or registrars) owns a name after being sold. Only the owner has the authority to make modifications. That is why, for example, a blockchain domain cannot be banned.
Websites with blockchain names are also available on the InterPlanetary File System (IPFS), a decentralized alternative to the World Wide Web. The website cannot be stopped or filtered because it is not hosted on a single server but rather in the blockchain.
Blockchain domain names offer many of the same benefits as traditional domain names, and they go far beyond.
- Website: Like traditional domains, you may use the blockchain domain to host your website. Websites are hosted on the blockchain and are decentralized.
- Wallet: The domain is a terrific way to replace personal crypto wallet addresses otherwise cumbersome. Different marketplace addresses can be consolidated into a single address.
- Trading: Domains are traded regularly. However, because blockchain domains are essentially non-fungible tokens, they are destined for trading. The procedure of purchasing and selling is straightforward and secure, thanks to the smart contract mechanism.
- Apps: Domains can be used to create software, and there are development tools and frameworks specifically intended for blockchain apps.
Blockchain domains and websites have yet to gain widespread adoption, partly because not every Internet user can directly visit the domains, as browsers must be capable of supporting the technology. Opera performs this out of the box; Chrome and Firefox, on the other hand, require the installation of add-ons.
Nonetheless, a few companies have already started securing their blockchain domains. Web 3.0 and blockchain domains are likely to become more popular over time, so buying one now while still available at a fair price may make sense.
Start Your Decentralized Journey with Quik
Quik is a marketplace for blockchain domains that allows you to create and own your own digital identity while also contributing to the future of Web 3.0.
Quik has made a number of blockchain-related domain TLDs available for minting, including:
To mint crypto domains, users can apply any phrases they choose to these TLDs. Users can also search the site for available blockchain domains provided by peers, which they can then transfer to the public ledger.
Users can also use blockchain transactions to list or purchase traditional domains on the marketplace, making the process more transparent and safe.
On the Quik platform, you can pay with ETH, GT, and BMB using the ETH-721, BEP-721, ETH-1155, and BEP-1155 protocols. Quik also plans to add other protocols as the platform grows.
Businesses and individuals can acquire blockchain names directly from Quik for a one-time cost with no renewal or gas fees.
A Quik blockchain domain serves as a login, a worldwide username, a bitcoin address, and a decentralized website URL. Visit Quik.com to learn more about crypto domains, or read the Quik White Paper for more information.