How are digital assets and digital footprints related?

how are digital assets and digital footprints related

When it comes to the internet, a user always shares data on whatever site he visits. The classification of the data being shared is what answers the question, “how are digital assets and digital footprints related”.

A quick note about digital assets and digital footprints:

It is imperative to discuss or talk about these concepts separately before learning how digital assets and digital footprints relate to one another. This will open the window to seeing the dissimilarity between these concepts, even though they appear to be extremely similar, and the underlying ideas are completely dissimilar.

However, because they are connected to the internet, it can be challenging for some people to tell the difference between these two. Below is a little light on what digital assets and digital footprints are.

Digital assets

The electronic files that are saved digitally are referred to as digital assets. For example, your NFTs collection, estate on Metaverse, various tokens and cryptocurrencies like Bitcoin, Ethereum, USDT, Tether, Non-fungible tokens (NFTs), such as works of art, collectibles, or items used in video games or the virtual world, Web3 domain names, etc.

Digital assets can be used for payments, storing intangible information like videos, or creating digital art. Individuals can own digital assets. Thus, you can purchase or sell them. You can occasionally transfer digital assets as well. Additionally, you can keep digital data on a computer, server, or in the cloud.

Digital data exchanges are recorded on data blocks in a blockchain, an electronic ledger.

The major thing with digital assets is they are privately secured. However, they are still stored on internet platforms and apps like Web3 platforms and dApps, which share data about you.

Digital Footprints

Cyber shadow has several names, including electronic footprint and digital shadow. Widely referred to as “digital footprints,” they preserve a user’s web surfing history and store them as cookies, acting as an online “footprint” or trail.

A digital footprint is a term that describes the trail, traces, or “footprints” people leave online. This refers to information communicated online, such as when you register for a forum, send emails with attachments, post movies or digital photographs, or engage in any other activity that makes your personal information visible to others.

Footprints can be categorized into two:

  • Passive: When data traces are produced without the user’s knowledge.
  • Active: A user intentionally creates personal data by disclosing personally identifiable information through social media or other websites.

How are digital footprints created?

  1. Establishing an Online Identity: You can’t ignore the impact of the internet on our lives in the digital age, where everything from simple to extremely complicated jobs is conducted online. One tends to create online personas in many forms to stay up with this technologically evolved society. Some typical methods include creating social network profiles, using user names to log onto websites, engaging in chats, etc.
  2. Websites and Online Shopping: Retailers and product review websites frequently place cookies on your computer to track your browsing activity. This enables targeted adverts to present you with items you’ve recently read about or looked at online.
  3. Social media: Every time we retweet a tweet, comment on a post on Facebook, share information there, or publish a photo on Instagram, a record is left. These social networking site systems keep track of users’ activities and enable digital tracing information to include personal interests, social groups, behaviors, and locations. Take caution with the content you participate in.

What is the relationship between digital assets and digital footprints?

You can easily tell the difference between digital assets and digital footprints now that you know their differences. Let’s now have a look at how they relate to one another. 

The data provided by digital assets and digital footprints can be related and used in two ways; Positive and negative ways. We will talk about both approaches and their real-world uses.

Positive way

The deployment of digital assets and footprints in practice can be shown in the following ways.

  • Both reveal details about you: The fact that they both provide your information is the first item. You may or may not choose to reveal your private information. However, you accept most of the rules and guidelines for sharing personal data.
  • Digital assets and footprints can be used to enhance the Web3 user experience: There are advantages of using the internet through digital assets and digital footprints. Imagine that you have been posting about a certain product and visiting numerous related websites. As digital assets and digital footprints, this data is being saved.

These can therefore be used to provide a customized experience for the user following the browser and website algorithms. Ultimately, it will improve the user’s experience and make it more effective and enjoyable.

Negative way

  • Various fraudsters can use these: Whether it is hacking with your approximate location or using your personal information, people in this sector are capable of committing several frauds. Your privacy is not the only thing that is in danger. But it also highlights how crucial it is for everyone to exercise caution when using the internet and visiting various websites.

Your digital assets and digital footprints can be used by businesses to deceive you.

The corporations may learn a lot about your interests with the aid of your digital assets, such as the images and movies you have submitted.

  • Without your knowledge, your digital assets and footprints may be used to make money: Yes! Businesses and organizations that gather your data may use it without your knowledge or consent. The most prevalent illustration is when various businesses and groups purchase this data. In this situation, your online behaviors and interests are also significantly revealed by your digital footprints and digital assets.

Conclusion

How are digital assets and digital footprints related? This has emerged as a big topic due to internet usage. Digital assets and digital footprints can be related to one another in various ways. There are both nice and terrible people. We covered all the information you required in this section.

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Why do i Need a Wallet?

Freename domains are blockchain-based assets and would be minted and stored using a wallet. Users are required to mint and manage their domains using a Metamask or Coinbase-configured wallet. It must be a non-custodial wallet, meaning that one must own the private keys to the wallet in order to approve transactions via a signature.

To benefit from Freename Web 3 domains/TLDs, you must have a wallet. This is because Web 3 domains/TLDs are blockchain-based assets. Users can mint and manage their domains using Metamask or Coinbase-configured wallets.

Keep in mind that it must be a non-custodial wallet. You own the private keys to the wallet (in order to approve transactions via a signature).

Are the Domains Associated with ICANN?

ICANN does not manage freename.io domains. Freename.io believes their TLDs/domains must allow customers to operate independently. Freename.io wants to build a utility infrastructure, allowing customers to use their services for valuable and generative purposes. By leveraging blockchain technology, Freename Web 3 domains/TLDs have no centralized authority imposing rules and regulations.

What is a Wallet?

Every blockchain user requires a wallet in order to interact with the network. A wallet is essentially an account on the blockchain where transactions can be sent and received. It is also where one can store blockchain assets such as cryptocurrency or NFTs (non-fungible tokens). There is no personal information associated with a wallet and none is required to create one. A wallet consists of a public key and a private key. The public key can be safely shared with anyone who wishes to send assets to the corresponding wallet, however, the private key should not be shared and is the key to accessing the wallet in the event where access is lost or to create another instance.

A crypto wallet (cryptocurrency wallet) is software or hardware that enables users to store and use cryptocurrency. With cryptocurrencies, there isn’t any actual money to carry around in a wallet. They exist on the blockchain. Similarly to traditional bank transfers, crypto wallets enable users to send and receive cryptocurrencies, NFTs, etc.

A wallet consists of a public key and a private key. To receive assets, you share your public key associated with your wallet. You should NEVER share your private key.

How do i Claim my Earnings from Freename

ou can withdraw revenues generated passively through a cryptocurrency transfer. Connect your cryptocurrency wallet and, once your withdrawal request is confirmed, the desired amount is pulled from Freename’s reserves and conveniently delivered to you!

Claim your earnings by following these steps:

  1. Connect your cryptocurrency wallet to Freename.io
  2. Request a withdrawal
  3. Receive request confirmation
  4. Receive withdrawal directly to your wallet.

Can i Transfer Domains?

Yes. The domain is stored in your cryptocurrency wallet and can be transferred by you after you have minted it. Access your portfolio, select the TLD or Domain you wish to transfer and type the recipient’s address. Afterwards, you must paste the OTP code you received by mail to confirm the transaction. Keep in mind that currently, it is not possible to import the domain that has been transferred, but it will be possible soon!

Yes. Domains are transferable ONLY after a TLD/domain has been minted and stored in a user’s wallet.

To transfer the TLD (or domain), the user must:

  • Access their wallet
  • Select the item they want to transfer
  • Enter the recipient’s address.
  • Confirm the transaction by pasting the OTP received by email

In the future, Freename.io will support importing domains that have been transferred.

What about Trademarks?

Registering a trademark on your Freename Web3 TLD will allow you to protect your web3 TLD and your logo worldwide juridically.

From the moment you deposit a trademark request, your web3 TLD will be protected worldwide for 6 months awaiting for the Swiss Federal Institute of Intellectual Property (IGE.ch) to confirm and register the availability of your TLD.****

A trademark is any symbol, phrase, or word that allows customers to identify a company’s goods or services. Freename is a web3 domain/TLD provider that also provides trademark registration.

A user must reach out to the trademark department to register a trademark. To get your trademark filed for review at the Swiss Federal Institute of Intellectual Property, a user must provide the following:

  1. Complete a Know your customer (KYC)
  2. A list of TLDs they wish to trademark
  3. Proof of payment

Once these conditions are met, it takes one week for the trademark to be reviewed and logo/TLDs to be provided with six months of worldwide protection.

Is Minting the same as Buying?

Purchasing a TLD (or domain) on Freename and minting it on the blockchain are two distinct steps. When you purchase a TLD (or domain), the transaction is recorded in Freename’s database and not on the blockchain. Minting a TLD (or domain) on the blockchain requires a second step: log into the user’s personal area, select the TLD (or domain) and press “mint TLD” (or domain): done! Don’t worry, once you have purchased a Freename domain, no one can take it away from you!

No. Buying and Minting a TLD/domain are two different things.**

Buying **is the process of recording a transaction on Freename’s database and not on the blockchain.

Minting is the process of pushing a user’s domain from Freename.io data onto the public ledger of a blockchain and into a user’s wallet. Giving the user full control over the TLD/domain.

It is very easy to mint a domain/TLD once you purchase it. Simply:

  • Log into your personal area
  • Select the TLD (or domain)
  • Press “mint TLD” (or domain)

What is Domain Minting?

Minting is the process of publishing a Freename domain (or TLD) on the blockchain via your wallet to gain full custody of the domain. This means that the only person that has control over the domain (or TLD) is the person who controls (has access to) the wallet.

Minting is the process of pushing a user’s domain from Freename.io data onto the public ledger of a blockchain and into a user’s wallet. Giving the user full ownership over the domain.

Minting on Freename.io is as simple as the following steps:

  1. Go to the Freename.io website
  2. Enter the TLD/domain you want to buy in the search bar
  3. Add the TLD/domain to your cart
  4. Go to checkout
  5. Create a Freename.io account
  6. Purchase the TLD/domain with cryptocurrency or a credit card
  7. Go to “portfolio and incomes.”
  8. Click on mint TLD/domain

Which domains are Protected?

Protected domains and TLDs are domains and TLDs that we’ve detected are associated with a brand, organization, or notable person. We believe it is important to increase adoption for the next generation of the internet by helping to onboard brands into the Web3 era. If you are interested in applying for a Protected domain, please contact us.

TLDs/Domains associated with a notable person, brand or organization are considered Protected Domains. Protected domains help onboard brands in Web 3 increasing adoption. Protected domains also protect users from others impersonating/stealing their domains.

Reach out to Freename.io to apply for a protected domain.

Why use Freename?

Freename domains are unique by their very nature: only with Freename you can register domains with unique TLDs for your digital identity while passively earning money!

Freename.io is not only the leading TLD and Domains platform in Web 3, but also lets users generate passive income!

Owning a Freename Web 3 TLD entitles users to receive passive income whenever a domain is bought on their TLD. Users can register and mint TLD/domains of their choice if available.

What is a Domain?

A domain name is a string of letters and/or numbers that points to the IP address of the corresponding website. Generally, it is easier to remember a name than a long string of numbers.

A domain name is an address that people type into a browser bar to find a website. It consists of a Top-Level Domain (TLD), everything that comes after the dot, and the Second-Level Domain (SLD), everything that comes before the dot.

For example, “Freename.io” is the domain name, “Freename” is the SLD and “io” is the TLD.

Which Chains are Supported?

Freename has a multi-chain approach. You can choose on which Blockchain to mint your Web3 Domains and TLDs ranging Among Polygon, Cronos, and Binance.

A user can mint a Freename.io domain/TLD on the following blockchains:

  • Polygon
  • Cronos
  • Binance

Freename plans to expand its multi-chain approach by adding blockchains upon which domains can be minted.

Are there Renewal Fees?

No! Once you’ve bought a Freename Domain or TLD, it’s yours forever, no renewal fees ever!

No. There are no renewal fees on Freename.io. Once a user has paid a one-time payment for a domain/TLD, they own it. Forever.

This is the significant advantage of Web 3 domain/TLD over traditional alternatives.

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