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How Web3 Domains Enable Decentralized Web

Web3 Domains Role for a Decentralized Web

The idea of a decentralized web stems from the fact that users have had a new taste of privacy and security brought about by cryptocurrency and blockchain technology. Ever since blockchain technology gained massive popularity in 2014, financial institutions and other industries began shifting their attention from digital currency to the development of blockchain technologies. And with these developments came the concept of Web3.

The internet we know today, Web 2.0, is characterized by the transition from static content to a more dynamic experience where users are no longer just passive consumers but active participants capable of generating and uploading content onto the internet.

However, Web3 domains provide for a new era of internet connectivity and online access backed by blockchain technology. This novel idea of a more democratic and user-centric internet is also known as the Decentralized Web.

This article analyzes the relevance of Web3 domains in building a decentralized web presence, exploring key areas like user ownership, transparency, security, and privacy as means to achieving the goal of a truly decentralized web. Before we start, have a look at our guide on the differences between decentralization and centralization to have a better idea about these two concepts.

How Web3 Domains Affect User Experiences in the Decentralized Web

Decentralized Identity

A Web3 domain acts as your online identity in the dWeb. It can be linked to your various dApps, crypto wallets, and even social media profiles built on blockchain technology. This creates a unified identity that travels with you across the decentralized ecosystem.

Cryptocurrency Transactions

Using a Web3 domain linked to your wallet addresses simplifies transactions and reduces errors. Cryptocurrency transactions have traditionally been a tiring process, riddled with long and complex wallet addresses prone to errors. Web3 domains, however, are revolutionizing the way we interact with crypto by offering a user-friendly and secure solution for sending and receiving digital assets. Here are a few examples of the impact of Web3 domains with regard to cryptocurrency transactions in the decentralized web:

  • Simplifying Transaction Processes: Web3 domains act as reliable aliases for your crypto wallet, eliminating the risk of typos and accidental sends. Imagine sending funds to “alice.crypto” instead of a character-set like “1BvBMSEYstWetqTFn5Au4m4GFg7xJaNVN2”. This not only speeds up transactions but also minimizes the chances of sending crypto to the wrong address, a potentially irreversible mistake.
  • Seamless Integration with Wallets:  Popular crypto wallets like MetaMask are readily integrating with Web3 domain functionality. This allows users to directly send and receive crypto using their chosen domain name within the wallet interface itself. This eliminates the need to switch between platforms or manually enter long wallet addresses.
  • QR Code Convenience:  Web3 domains can be embedded into QR codes, which further simplifies the transaction process. By scanning a QR code linked to a Web3 domain, users can automatically populate the recipient’s address in their wallet, ready for a quick and secure transaction. This is especially beneficial for offline transactions or in situations where manually entering an address might be impractical.
  • Enhanced Security Measures: Phishing attacks are a major concern in the crypto space, where users are tricked into sending funds to fraudulent addresses. Web3 domains make it easier to identify legitimate transactions.  Since users can visually confirm the domain name before sending crypto, they are less likely to fall victim to phishing scams that often use lookalike website URLs with slightly altered characters.
  • Escrow Services:  The use of Web3 domains in conjunction with smart contracts could pave the way for secure escrow services in the dWeb.  By linking a transaction to a specific Web3 domain, both parties involved can be assured of the legitimacy and identity of the other party.

Accessing Decentralized Finance (DeFi) Platforms

Web3 domains can act as a central hub for users to manage their DeFi activities. Imagine using your Web3 domain to connect to various DeFi platforms, track your investments, and monitor loan positions across different protocols. This eliminates the need to juggle multiple wallet addresses and simplifies DeFi portfolio management. 

Web3 domains, coupled with Decentralized Identifiers (DIDs), could create a unified identity system for DeFi users.

Playing Play-to-Earn Games

Play-to-earn (P2E) games have taken the gaming world by storm, allowing players to earn rewards in the form of cryptocurrency or NFTs through gameplay. However, managing in-game assets across multiple P2E ecosystems can be complex. 

Web3 domains offer a solution, streamlining the experience users experience throughout the decentralized web. For example, you can set your Web3 domain as your username or in-game identity and use it to collect and store the crypto rewards you earn in these blockchain-based games. 

Participating in Decentralized Marketplaces

Another application of Web3 domains is in buying and selling digital assets using your Web3 domain as your unique identifier. Web3 domains can be integrated with smart contracts used for escrow services in Web3 marketplaces. By linking a transaction to a specific Web3 domain, both buyer and seller can verify each other’s identities, fostering trust and reducing the risk of fraudulent transactions.

Data tokenization in Web3

Building a Personal Brand in the Metaverse

Your Web3 domain can act as your username or handle in the virtual worlds of the metaverse. Web3 domains allow vendors to establish a recognizable brand within the Web3 marketplace. Imagine browsing a marketplace and seeing “art.store” instead of a long string of alphanumeric characters. This fosters trust and makes it easier for buyers to identify reputable sellers. Also, Web3 domains tied to user profiles or reputation systems could potentially aid in dispute resolution processes within the dWeb.  Having a verifiable online identity associated with a transaction could streamline communication and accountability.

Is a Truly Decentralized Web Possible?

It is not uncommon for users to speculate on the possibility of a truly decentralized web. However, users who recognize the important distinctions and similarities between Web 2.0 and the decentralized web (Web3) are in the best position to leverage the improvements in this new iteration. 

The importance of the Web3 domains 

Limitations of Web3 Domains for Complete Decentralization

While domain name resolution might become more decentralized, the current infrastructure of the internet (cables and servers) would likely remain a mix of centralized and decentralized components.

Also, decentralized solutions for domain name resolution are still under development and face scalability challenges in order to handle the vast amount of traffic a global web demands.

Freename’s Web3 DNS system breaks away from traditional domain management by embracing decentralization. This method prevents any single entity from monopolizing the DNS infrastructure. By integrating blockchain technology, Freename ensures a secure, tamper-proof, and transparent domain resolution process, transforming how we handle online identities.

web3 domains

Complete decentralization would require a significant shift in how the current web functions. Web3 domains are unlikely to replace traditional domains entirely in the foreseeable future.

How to Build Your Web3 Domain

Building a Web3 domain doesn’t necessarily require you to start from scratch. Rather, you can acquire and manage ownership of a Web3 domain through an existing platform. Here’s how:

Choose a Web3 Domain Registrar

There are several platforms that act as registrars for Web3 domains, similar to how traditional domain registrars work for URLs. Freename is one of the popular options which offers a variety of domain extensions (similar to “.com” or “.org” for traditional domains) specific to the Web3 space, such as “.eth”, “.crypto”, or “.nft”.

Search for Domain Availability

You can choose Freename to register a domain, use our search tool to check if your desired domain name is available.

web3 domains

Purchase Your Domain

If your desired domain is available, you’ll typically need to purchase it using cryptocurrency. The price can vary depending on the registrar, domain name length, and the specific top-level domain (TLD) you choose.

Connect Your Crypto Wallet

In order to complete the purchase, you will need to connect your crypto wallet to the registrar platform. This wallet stores your cryptocurrencies and allows for you to interact with blockchain applications. Popular wallet options include Trust Wallet, Coinbase Wallet, and MetaMask.

Manage Your Domain

Once you’ve completed the purchase, you can manage your domain through the registrar’s platform. This usually involves setting up your domain record – which specifies how it points to your crypto wallet address or other Web3 resources. Some platforms might also offer additional features for managing subdomains or customizing your domain’s appearance.

Claim your Web3 domain with Freename

The Importance of Web3 Domains for a Decentralized Web

Web3 domains are more than just addresses. They’re the building blocks of a new digital identity in a decentralized future. As Web3 continues to evolve, expect Web3 domains to play an even more critical role in shaping how we interact and navigate the online world.

The rise of the decentralized web means a phenomenal shift in how we interact with the internet. Web3 domains play a pivotal role in establishing your presence within this new decentralized landscape. They offer a unique combination of user ownership, security, and versatility, empowering you to navigate the Web3 ecosystem with ease. 

Whether you’re an individual seeking greater control over your data or a business looking to establish a foothold in the decentralized web, Web3 domains offer a powerful solution.

Learn how Web3 empowers digital ownership

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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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