ICANN vs Web3 Registrars

ICANN vs. Web3 Registrars


In the early 2000s, websites and portals with interactive features emerged on the horizon. This was the era of the social web, or Web2, dominated by centralized platforms and online collaboration tools. Years later, Gavin Wood coined the term Web3, indicating the internet’s yet another transformation focused on decentralization, digital ownership, tokenomics, and enhanced security.  

Web3 refers to an online ecosystem powered by blockchain technology. It addresses vulnerabilities in the Web2 space and promises advanced, user-centric, and scalable solutions. To acquire these advantages for your business, you need a registered domain from a reliable domain registrar. 

Choosing the right domain registrar is important because it affects the quality of the domain, its future value, and the potential to attract visitors to your web store. You can either choose an ICANN-accredited registrar or a reliable Web3 registrar. 

In our ICANN vs. Web3 Registrar Comparison, we’ll discuss what ICANN is and how it is collaborating with top-tier Web3 registrars to shape the internet.   

Understanding ICANN

The Internet Corporation for Assigned Names and Numbers (ICANN) is responsible for simple and smooth domain naming across the web. It coordinates the internet’s unique identifiers, ensuring smooth and secure operations. 

Role and Responsibilities

The non-profit organization ensures smooth global internet interoperability by:

  • Managing IP address allocation
  • Overseeing the domain name system (DNS)
  • Accrediting domain name registers
  • Defining policies and guidelines to run the internet’s “name and number” system. 

ICANN’s Domain Name Management

You must be wondering how ICANN manages domain names and DNS. It does so by coordinating domain name assignments through the internet’s underlying address book, DNS, and registrars. The goal is to ensure each name stays unique.

ICANN also manages the root name servers present in the root zones of the DNS. It administers:

These servers translate domain names into IP addresses so that computing devices can identify each other on the network.  

TLDs (Top-Level Domains) and Their Significance

ICANN oversees the administration of top-level domains (TLDs), such as .com, .org, and .net, to ensure systematic domain name allocation. These TLDs are divided into different categories depending on location or type.

For example:

  • .com TLD is recommended for commercial use
  • .net TLD is best suited for networks or communities
  • .us or .uk are location-based TLDs representing the USA and UK, respectively

Registering your domain with a reputable TLD can benefit you in many ways. A reputable TLD adds reliability to a business. For example, the .com TLD has the highest trust rating. Although TLD is not a ranking factor, it can impact your SEO efforts.

Web3 Registrars and Their Advantages

ICANN-accredited registrars are reliable but may charge high fees for their services. So, startups with tight budgets—or businesses that have yet to acquire a domain—can contact Web3 registrars and enjoy the following benefits

Decentralization

Unlike traditional registrars that rely on central DNS, Web3 registrars function on blockchain networks. For example, Freename offers Web3 domain registration services on BASE, Solana, Aurora, and others. 

What’s noteworthy is that Web3 registrars eliminate the need for central authorities. Decentralized networks offer a more resilient domain registration system, which is more secure and censorship-resistant. 

Cost Efficiency

Blockchain networks do not have intermediaries or central authorities, so the operational cost of a Web3 domain is lower. This cost-efficiency enables Web3 registrars to charge lower registration fees than traditional domain registrars.    

Ownership and Control

Traditional systems give registrars significant control over the domain, but the Web3 environment transfers complete domain ownership to the registrants. The digital ownership of the domain is transferred to the domain owner through smart contracts.   

Innovation

The decentralized infrastructure of the Web3 space attracts innovators to build modern applications backed by enhanced security and integration features. These features give your domain better scalability, which is missing in traditional domains. 

Comparison: ICANN vs. Web3 Registrars

Below is a detailed comparison between ICANN and Web3 registrars

FeaturesICANNWeb3 Registrars
Regulation and ControlCentralized serversDecentralized networks
Scalability and flexibilityLimited new TLDsDynamic blockchain growth
CostsHigh Fees + RenewalsOne-time payments
Security and ReliabilityCentralized security risksDistributed ledger security

Regulation and Control

ICANN’s role and responsibilities in managing web domain names make it a central authority in the Web2 space. It also defines rules and regulations to run the domain naming process. 

The “bottom-up, consensus-driven, multi-stakeholder model” working style involves multiple stakeholders in decision-making. These stakeholders include all registries, registrars, intellectual property advocates, and representatives of more than 100 governments, among others.

Although the organization takes a democratic approach to regulating the Web2 space, it cannot give users complete control over the data. Moreover, users have to share the ownership of their content with service providers, 

In contrast, Web3 registrars operate in a decentralized environment where every blockchain user enjoys equal rights in decision-making. Moreover, Web3 users have complete control over their data (digital assets and other information).  

Scalability and Flexibility

ICANN manages all TLDs in the Web2 space. That said, the number of TLDs operating worldwide is small compared to the number of online businesses. This scarcity of TLDs makes the Web2 system rigid and inflexible since new TLDs are less likely to rise to the top. 

It’s not because of ICANN; it’s because Web2 stakeholders are not flexible enough to deal with new TLDs. For example, ISPs and Web2 registrars tend to promote the .com TLD, giving the impression that it’s a must-have for every commercial business. 

Moreover, Web2 TLDs have a fair share of shortcomings in terms of features, multi-device support, app support and accessibility. Gaming enthusiasts have already highlighted these shortcomings, showing dissatisfaction with traditional verification processes, limited platform accessibility, and the lack of real-time reward accumulation with multi-device access.   

On the other hand, Web3 registrars offer scalable and flexible solutions courtesy of blockchain technology.  A Web3 game built on the Ethereum blockchain can integrate with thousands of dApps simultaneously. Players can access the game using their domain names from any device. 

Costs and Fees

Finding the right domain name can be challenging. Plus, if you find a domain name that matches your brand, be prepared to pay a hefty amount in purchases. In connection, the Web2 domain registration is subject to renewal. 

It is worth mentioning here that ICANN oversees domain registration worldwide but cannot regulate domain registration prices. Usually, ICANN-accredited registrars charge on a yearly basis, which means you have to pay the renewal fees every year. The Web2 domain registration price varies between $10 and $20 per year.  

On the other hand, Web3 registrars charge one-time registration fees, and the domain is yours forever. There is no need to upgrade your Web3 domain because it will integrate automatically with other dApps or digital assets on-chain.  

Security and Reliability

ICANN operates in an environment where central servers store and retrieve data. A single point of failure can halt the entire operation and may result in larger data losses. This also makes the Web2 space vulnerable to cyber attacks. 

In this context, ICANN is continuously working to strengthen its DNS security. The organization introduced a comprehensive DNS Security Threat Mitigation Program to help domain registrars counter security issues. They also have a framework in place, anticipating a better and more reliable Web2 DNS system. 

Still, there’s a lot to be done to match the distributed ledger security offered by the decentralized internet. Blockchain networks record every transaction in a decentralized ledger. The ledger knows the identity and addresses of every block across the blockchain. Every block has a unique address and is secured by cryptographic encryption.  

Freename.io, being a renowned Web3 domain provider and hosting platform, extends its support to ICANN’s efforts in mitigating security-related threats. The goal is to provide Web2 users with the same security and reliability as Web3 users. 

The Future of Domain Registrars

The future looks brighter as we just witness a historic collaboration that will likely change the course of the digital ecosystem. ICANN has acknowledged Freename’s active role in shaping the internet, making it the first Web3-ICANN accredited registrar

Now, Freename.io offers a blend of traditional domain management and Web3 services, accommodating Web2 and Web3 users through a single platform. With Freename’s domain mirroring and tokenization services, Web2 domain users can enjoy the same level of security and convenience as Web3 domain owners.   

Moreover, Web3 market trends suggest blockchain and Web3 technologies will continue to gain traction and become mainstream in the coming years. This will increase the scalability of blockchain-powered assets such as cryptocurrency, wallets, NFTs, domains, and other dApps.

There are challenges associated with regulatory framework and technological advancements. Given the increasing demand, we will likely see Web3 regulations and advanced apps with user-friendly features in place by the next couple of years or so.  

Conclusion

ICANN is a non-profit organization that manages domain name allocation and regulates traditional TLDs worldwide. It also accredits domain registrars and sets consensus-driven guidelines for smooth and secure registration. 

The organization focuses on delivering user-centric results within its capacity, as much as the centralized ecosystem allows. On the other hand, Web3 registrars operate in a decentralized environment, addressing major issues in the Web2 space, such as data security, integrity, privacy, costs, and shared ownership. 

So, who would you choose: an ICANN-accredited registrar or a Web3 registrar? Or would you go for a service that offers the best of both worlds? Traditional domain owners can also experience the best features of Web3 using the Freename platform. 

Recently, Freename became the first Web3-ICANN accredited registrar, offering domain mirroring and tokenization services to traditional domain owners. Meanwhile, it continues to satisfy its Web3 clientele through a multichain-compatible platform that provides affordable Web3 domains and TLDs. Aspiring entrepreneurs and startups can explore a wide variety of Freename domains that offer permanent ownership with a much higher future value. Moreover, you can become a TLD registrar and earn up to 50% royalties whenever a new second-level domain (SLD)

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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!

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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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