Web3 TLD has gained so much buzz on the internet in the present day. One would wonder how it flows seamlessly with current internet revolutions like blockchain, NFT, crypto, and the metaverse. Then, you are beginning to see .eth, .metaverse, .chain, etc., and you are beginning to wonder about the roles these top-level domains play.
So, let’s check out what Web3 top domain name is all about. Will it serve its purpose? We would also look into other important details about this latest web evolution.
What is a TLD?
A top-level domain (TLD) is the next level up from the root zone in the Domain Name System (DNS). A TLD is, in the simplest words, anything that comes after a dot in a URL. In the domain name “google.com” for instance, the “.com” at the end is the TLD. The “.org,” “.uk,” and “.edu” top-level domains are also quite common.
There wouldn’t be a DNS lookup procedure without TLDs. When a user types a domain name like “google.com” into a browser’s address bar, the DNS resolver contacts the top-level domain (TLD) server to begin the lookup process. If the top-level domain (TLD) is “.com” for example, the resolver will make a DNS lookup to learn the Google origin server’s IP address.
The Top-Level Domain (TLD) system used by the Internet is governed by ICANN, which has the ultimate say but assigns responsibility for individual TLDs to other groups. For instance, the “.com” and “.net” TLDs are managed by a single American business called VeriSign.
The second function of TLDs is to clarify and categorize the use of domain names. Each top-level domain (TLD) will provide further context about the domain that follows.
Web3 TLD involvement in Cryptocurrency
The importance of cryptocurrency and Web3 can not be separated as they are intertwined. Hence, each is crucial and necessary for the actualization of the other. In particular, cryptocurrency makes decentralization possible and provides anonymity in various contexts on Web3.
It would be challenging, for example, to trade with NFTs outside of established networks without crypto and blockchain. There are top-level domain names .metaverse, .chain, .airdrop, .young, .hodl, etc and this speaks a lot of the involvement of cryptocurrency in this system.
Is the Web3 TLD making ICANN useless?
There is no way Web3 emergence can make ICANN useless. However, ICANN will not be responsible for overseeing Web3. ICANN’s sole focus is Web2 DNS. Since Web3 functions on blockchain technologies, they are outside its jurisdiction. Both Web2 and Web3 support domain names since they are more convenient than lengthy alphanumeric identities for users. Domain names, however, have a wide variety of potential applications across industries.
Current blockchains have unique domain name requirements that aren’t met by the ICANN approach. There is no foreseeable update until 2025 per ICANN regulation. The Internet Corporation for Assigned Names and Numbers (ICANN) has decided to cap annual expansion at 1,000 new top-level domain (TLD) extensions across all existing TLD types (generic, geographic, community, restricted, Internationalized Domain Names (IDNs) that employ non-ASCII characters, and dotBrands).
In addition, a blockchain-based domain extension from a network like Freename is now an option for a new TLD. Extensions such as .metaverse, .lambo, .token, .layer, etc., make it possible to create specialized subdomains.
Freename: The big stop for all web3 TLD and domains
Freename is a TLD and domain name registration platform that allows its users to search for and register/mint any kind of TLD. This uniqueness gives users further opportunities to explore. It even compensates its users if the TLD doesn’t exist yet. Once you’re done with your registration, it will provide an incentive known as “Royalties”. With this, you can be the first to earn passively with each domain that registers with that TLD subsequently.
It doesn’t have any renewal fee attached to it and you have total ownership and may also choose to make use of your domain name as your crypto address.
Why choose Freename.io?
- You can create Web3 TLD or domain easily without any need to pay the regular renewal fee.
- You can become a web3 registrar yourself and earn Royalties.
- It doesn’t require a special code for users to integrate the combination of Web3 TLDs and Web3 Domains to function as a Web2 domain.
Why you should get yourself a Web3 Top-level Domain
- It’s your property: Neither before nor after your purchase will anybody else have owned your Web3 domain. Buy the extension from Freename and then use either your chosen name or your existing social network ID.
- Digital presence: Your Web3 domain is your digital fingerprint. It’s your digital identity, whether it’s a cryptocurrency wallet, a website, or something else.
- Anonymity: Web3 domains can be set anonymously, and users’ IDs will not be tied to their blockchain domains in the same way that they are with conventional domain name registration.
- Security: The Web3 domains are safer from intrusion since they run on a decentralized network. Without a central server, there is no way for the system as a whole to crash. When hosted on the blockchain, these domain names cannot be transferred or altered, making them perfect for securing confidential information.
- Smart investment: Although Web3 domain names won’t be cheap forever, they’re a great indicator of where the Internet is headed in the future.
