When transferring cryptocurrencies, a long string of letters and numbers is used to make sure they reach the right account. This unique identifier remains linked to a particular blockchain, meaning no one else can use it. However, much like your bank account, it’s not ideal to publicly share this information - that’s where crypto domains come into play.
- What are crypto domains?
- What are blockchain domains?
- IPFS blockchain domains explained
- Creating a website with blockchain
What are crypto domains?
Crypto domains are types of blockchain domains which point to cryptocurrency. They anonymise a blockchain’s unique letters and numbers, making them easier to remember and share. Crypto domains are managed on digital wallets, and are making their way to web browsers.
What are blockchain domains?
Pointing to all types of content, blockchain domains go beyond just cryptocurrencies. They’re used for locating NFTs, and everything else a blockchain hosts. To buy and claim a blockchain domain, you’ll need a Web3 wallet like Coinbase. This makes sure you’re securely pointing the domain to the right identifier.
If you’re asking “are blockchain domains worth it?,” if just for the convenience alone - we think so. Also, since they operate on the fundamentals of blockchain technology, these domains offer a decentralised approach. Instead of pointing to a traditional DNS, crypto domains use a system called the InterPlanetary File System (IPFS).
IPFS blockchain domains explained
Due to its decentralised nature, IPFS promises to be more secure than DNS. Within this infrastructure, crypto domains function under the InterPlanetary Name System (IPNS). As with anything on blockchain, to make changes to content on the IPFS used to mean remembering a long string of letters and numbers.
The IPNS make that unique identifier easier to access. Also, different from domains managed by a DNS provider, blockchain domains don’t need to be renewed every year. Once you own it, it’s yours for life.
One of the biggest benefits to blockchain domains is how it aims to combat hacking. With a DNS host, there’s a centralised organisation maintaining and monitoring domains. IPFS blockchain-based domains work a majority consensus model. Ideally, this makes it harder for hackers to get control of your domain.
It’s also worth pointing out that blockchain domains aren’t hosted on a server. They’re stored on public blockchains for transparency. Like found throughout blockchain technology, this system cuts out the need for middle men (domain providers), and creates a direct link with the owner.
Creating a website with blockchain
As capabilities for Web3 continue to unfold, now’s the right time to explore developing a website on blockchain. With much room for growth, it seems this area of blockchain technology is rapidly emerging. As it stands now, this technology is heavily used for crypto domains - but as mentioned, there’s a multitude of applications for blockchain domains.
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