What Are the Advantages of Web3?

advantages of Web3

The advantages of Web 3.0 concern the many innovations that can benefit its users. The concept refers to the new way interaction occurs in the digital world, grouping characteristics.

On Web 1.0, there is a relationship in which people access static content without interactions. In turn, Web 2.0 brought this new dimension with social networks, sharing, and user participation in content production. Then we come to Web 3.0 and its model of shared data and decentralized interaction.

In this context, we explain which technologies are part of the new internet and the advantages of web3.

What is Web3?

We are now immersed in Web3 and its development, making it difficult to provide a precise definition. Countless scenarios could be implemented using the Web, and we have been following a very ambitious project based solely on this technology for the past few months. Nonetheless, we will do our best to explain the foundations of the Web to you.

Web3’s key characteristic is decentralization, which means that data is no longer housed on a central server but rather is dispersed over the network.

In addition, cryptocurrency blockchain technology will be utilized by Web3 as well. While there are now numerous such hubs, this new network will not have a centralized location for its operations (for example, Youtube for videos).

Advantages of Web3 across areas of life

To the same extent that established businesses may benefit from the new Web3 apps, so can startups, which are constantly evolving. OK, but what are the benefits? Will this revolution bring about positive change? Security, privacy/anonymity, and decentralization are three advantages of Web3 that can be identified at this early stage. Let’s discuss them:

Security

If you’re familiar with blockchain technology, you know that the data utilized is encrypted using cryptography (a method of expressing a message in a form that ensures the contents can be read only by the intended receiver). It is also not essential to send information to an external source because there is no central server; everything is kept within the domain of the people who generate the content or enter the information.

Startups may benefit greatly from the ease and automation of direct transactions made possible by this method. Any information stored in this new Web3 system will be less of a hassle to handle and safer than it has ever been. For this reason, security is a bonus.

Decentralization

The elimination of a need for a centralized point of reference has significant implications for the efficiency of web navigation. Web3’s primary feature is also its most valuable asset.

With decentralization, “digital economic power” will no longer be concentrated in the hands of a select few, making it more accessible to everyone, from established businesses to fledgling enterprises. The potential for businesses to self-finance and set up a crowdfunding system through tokenization of their company will not be undervalued.

Anonymity

A potential benefit of Web3 is that users’ identities could be concealed while still allowing them to carry out their primary tasks. Why should we hand over all of our information to someone if there is nothing to “pole” it against?

Users frequently join up for services and voluntarily provide extensive personal information in exchange for a perceived benefit. Why should we still send all our data to a single site if the network becomes more decentralized? Our devices will no longer connect to centralized servers; therefore, the data will be independent of any one firm. Users’ data won’t be shared with any organization in this way.

Readable representation

There is no longer any way to function in the modern world without data. The use of AI, ML, Big Data, etc., has improved the efficiency with which many tasks may be completed, including the detection of demands, the comprehension of consumer behavior, the enhancement of marketing efforts, and the assessment of their effectiveness.

There will be more chances to make money as the capacity to process raw material (data) into knowledge grows. Wolfram Alpha is an example that demonstrates some of these capabilities.

If implemented, Wolfram’s idea would leverage AI and human language understanding to provide instantaneous answers rather than referring users to other websites like Google or Bing. In other words, the technology does not simply provide a list of pages or extracts; instead, it analyzes the data and provides a recommendation. Additionally, it gains knowledge from interactions to enhance its long-term replies’ completeness and precision.

Siri, Cortana, and Alexa, examples of voice assistants, also show signs of the robots’ improved interpretive abilities. Users can automate many tasks by issuing commands to this software, including starting programs, controlling home appliances, conducting web searches, and making online purchases.

A new world, Metaverse

The metaverse is another recent development that opens up novel possibilities. It calls for a shift in how computer-generated media is created and consumed.

Internet users today frequently turn to various online mediums to fulfill a variety of needs, including research, shopping, socializing, and more. The metaverse is a kind of digital realm where people go to consume material.

To shop at a clothing store, for instance, a user wouldn’t go through to the store’s website but would instead travel to the physical area in the virtual world where the store is located (using navigation tools like teleportation, driving a virtual car, or simply walking there). Such a person would be assisted by a coworker who also controls an avatar.

It has happened before in video games, but now there is a link to the actual world through the metaverse. In this scenario, you can make a virtual purchase and have the actual clothing delivered to your house.

Trading cryptocurrency

Participation in the crypto-assets market is another trait that might open doors for business. The blockchain and its paradigm of networked users, which permits decentralized and safe validation of transactions, have already been discussed above.

This innovation first gained notoriety when it was applied to bitcoins. Other digital currencies followed suit, including Ethereum, Binance Coin, and Ripple. Central banks are already investigating virtual currencies.

Web3 TLDs and Domains: Royalties

Digital currencies and cryptocurrencies come in various formats, each with its own advantages and disadvantages for use as a medium of exchange and an investment opportunity.

Non-fungible Tokens (NFTs) would be one-of-a-kind digital records that help to distinguish a particular asset, whether real or digital. Putting a non-fungible token (NFT) into practice opens the door to appropriation and exchange.

If you see potential in a Top-level domain (TLD), you can use Web3 domain platforms like freename.io to mint as many TLD and domain names as you like. This gives you the right of ownership to these domain names. As soon as people start using your TLD, you can earn royalties on each domain on your registered TLD. In addition, you can sell your domain to people in desperate need of it at a higher price than you used in minting it.

Conclusion

The culmination of Web 3.0’s development will be an environment similar to that of artificial intelligence, in which machines learn from human input. It will be the deciding factor between a search engine returning hundreds of irrelevant results and providing one result that is relevant and tailored to the user’s specific needs.

At the end of the day, Web 3.0 suggests major shifts in our online habits. Information’s significance will often arise during this phase of technological development. The advantage of Web3 is a major feature that gives it an edge over Web2.



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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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