It is an organisation or platform that manages and maintains a database of domain names built on top of blockchain platforms.
These domain names, such as those using the Ethereum Name Service (ENS) with .eth extensions or Unstoppable Domains with .crypto extensions, are designed to make it easier for users to access decentralised applications (dApps), websites, and crypto wallet addresses in the web3 ecosystem.
With these domain names, users can securely access their accounts, store content, and more with just their domain name.
Web3 domain name registry services differ from traditional domain name registries in several ways:
1. Decentralisation
Decentralisation provides a more secure, censorship-resistant, and user-controlled alternative to traditional domain name registries.
Unlike traditional domain name registries, which are centralised and managed by specific organisations, web3 domain name registries are built on decentralised blockchain platforms, giving users greater control over their online presence.
This enhanced security and censorship resistance helps protect users from hackers, censorship, and other malicious actors, while giving them more autonomy over their online presence.
With a decentralised registry, users have the power to choose who, if anyone, can access their information, making web3 domain name registries a more secure and reliable choice.
2. Ownership
Ownership in web3 domain name registries is in the hands of the users, giving them full control over their domain names.
By using cryptographic keys associated with their blockchain addresses, users can securely and confidently manage their domain names with ease.
With this level of ownership, users can be sure that their domain names are secure and that they have full control over them.
3. Smart Contracts
Smart contracts are revolutionising the domain name registration process by eliminating the need for intermediaries.
Web3 domain name registries leverage smart contracts to automate domain name registration, renewal, and transfer with increased efficiency, accuracy, and security.
Smart contracts provide a secure, transparent, and reliable way to register, renew, and transfer domain names, creating a more streamlined and cost-effective process.
4. Interoperability
Interoperability has made it easier for users to interact with blockchain-based platforms by allowing web3 domain names to be used across different decentralised applications and services in the web3 ecosystem.
By simplifying user interactions, users can enjoy a more unified, seamless experience when engaging with blockchain-based platforms.
With web3 domain names, users no longer need to remember complicated blockchain addresses and enjoy the convenience of using simple and easy-to-remember web3 domain names.
Some examples of web3 domain name registry services include:
Ethereum Name Service (ENS): A decentralised domain name registry built on the Ethereum blockchain, allowing users to register and manage .eth domain names.
Magic Eden Marketplace: You can visit this popular NFT marketplace and purchase or sell .Sol domain names.
Unstoppable Domains: A blockchain-based domain name registry that offers .crypto, .nft, .
You can read more articles about NFTs in the blog section of our website.
You can also visit our NFT resource directory to find useful links to help you invest in NFT more effectively.
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Author:
Jonathan Titley
Founder:
spendingcrypto.com
Co-founder:
https://fomomagazine.io
https://twitter.com/MagFomo
(NFT industry magazine and project reviews)
Co-founder:
https://nftave.io
(NFT marketplace and educational Web3 academy)
We also offer NFT consulting for individuals and NFT projects. Contact us.
Disclaimer:
All information in this article is for educational purposes only.
