ICANN vs. Web3 Registrars

Web3 Registrars

Let’s say you want to start a Web 3 business. What would be the first step? Registering a website. But what TLD (top-level domain) would you choose? ‘.com’ or ‘.eth’? How will you make yourself stand out from the rest of the competition?

To answer this, let’s understand the difference between Web 2 and Web 3 registrars.

What is ICANN?

ICANN (Internet Corporation of Assigned Names and Numbers) standardizes and maintains the naming system. ICANN acts as a central repository for all IP addresses. They also manage a registry of DNS (domain name registrars). When you search for “google.com” a DNS lookup procedure takes place. A DNS resolver looks for the TLD associated (“.com”) and finds the relevant IP address. That IP address is equivalent to “google.com”. Any registrar (certified by ICANN) can sell domains at any price. ICANN runs a system of checks and balances to ensure everything is going according to its rules and regulations. In exchange, they charge a set fee.

Problems with ICANN

Excessive costs. Applying for a new TLD (for a 10-year period) will run you $185,000 along with a $25,000 annual fee.

Scalability. ICANN has not accepted any new applications since 2012 and doesn’t plan to until 2025 or later. Their model can’t scale to the domain name needs of the Web 3 industry. They also have limited growth to only 1,000 new extensions to TLDs.

Centralization. ICANN calls the shots. They set the rules and regulations. They also collect all the royalties and charge a transaction fee of $0.25.

How ICANN controls the Internet

ICANN now manages the master keys to the DNS registry – the Internet. Only 14 individuals, chosen from different countries, have the backup of these keys (extremely centralized). Every quarter, ICANN holds a highly confidential “Root Signing Ceremony”. This may seem surreal given that these meetings have windowless rooms and steel doors that require biometric scans, PIN codes, and smartcards to open. Recently, a new cryptographic key was generated by a single high-security computer and it was sent to ICANN’s chosen firms. Can you see the problem here? What if one of these firms were to be compromised? Would that be the end of the internet as we know it?

Web 3 firms, like Freename.io, aim to remove the centralization of domain name registries and the problems ICANN brings. Freename.io democratizes this industry by utilizing blockchain-based infrastructure. Their multichain approach allows them to rely on peer-to-peer networks that don’t need a central body to verify (or issue) domain names.

Will Web 3 make ICANN obsolete?

Not necessarily. It is important to understand that Web 3 firms like Freename.io are not directly competing with ICANN. Web 3 cannot be regulated by ICANN. Their scope of influence is limited to the Web 2 DNS. The one advantage that ICANN held is its power to regulate and avoid scams such as brand identity theft when two or more people try to register the same domain. However, this advantage seems to be eroding. Better regulations and further development of blockchain infrastructures have helped ensure that no single name is repeated, registered, or minted twice.

It is no news that big brands like Microsoft are filing new trademarks by the day. Creators and businesses can show that they “get it” by securing their brand, thanks to Web 3 TLD providers like Freename.io. You could go register with third-party branded domain extensions like “.eth” and “.sol”. But would your brand’s identity be consistent with these extensions?

Freename.io aids you in acquiring/maintaining your domain name and TLD. They further empower users by generating income through royalties. Once a user buys a blockchain domain, they have full ownership over it. Users also pay no fees! There are no ICANN renewal fees/policies imposed.

What are other benefits Freename.io bring that Web 2 registrars don’t?

  1. Freedom: There is no centralized body breathing down your neck while taking their commissions.
  2. Full Ownership: your domain, your property. You have complete ownership after you mint your domain. It is all recorded on the blockchain 🙂
  3. Passive income: Freename.io lets you activate the Royalty license. Whenever someone registers their domain on your TLD, you get 50% of the transaction. Already have a TLD? Learn how to activate your license here.
  4. Smart Investment: Domains and TLDs will only go up in price as adoption increases.

 

Web 3 registrars are filling up the market demand that ICANN and Web 2 registrars cannot. They may not seem to be in direct competition. Yet, it is becoming apparent that the shift to Web 3 is inevitable. This is where Web 3 registrars like Freename.io are empowering users and leading the industry.

Fill the info to receive the PDF guide

Stay up to date!

How does it work?

Accordingly to the day when you will finalise your purchase, you have the right to receive from 1 to 3 NFT Domains for FREE!

Once you have completed your order, within 48h you will automatically receive on www.freename.io platform, in your personal area “portfolio” the randomly assigned NFT Domain/s.

You can chose on which blockchain you want to mint on and minting fee is covered by Freename!

HOW TO USE COUPONS:

Once you have added your favorite items to the cart, you proceed to “checkout” and add your coupon to the “coupon box”.

Said coupon will instantly do its magic and your due total will drop!

COUPON CODE CAN ONLY BE USED ONCE!
ENJOY YOUR SHOPPING AND GIFTS!

How does it work?

Once you have completed your order, you will automatically receive on www.freename.io platform, in your personal area “portfolio” the randomly assigned NFT Domain value $50 or if you’re lucky a randomly assigned TLD with value $699 (between these: .immersive; .multiverse; .freelancer; .cashback; .hologram)

you can chose on which blockchain you want to mint your NFT Domain/TLD on and minting fee is covered by Freename!

GOOD LUCK!

Fill in the form to Apply

Want to work with us? Let us know!

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.

Ask Away!