OP 02 August, 2022 - 03:16 AM
What are Web3 domains?
Web3 domains differ from standard domain name system (DNS) addresses such as Cointelegraph.com or thenewslack.io. A DNS is similar to a telephone directory, only it indexes public websites and their accompanying internet protocol (IP) addresses to enable the directory.
Thenewslack.crypto is the result of a 42-character hex string. However, in the case of Web3 blockchain domain name systems, one can simply remember a shorter phrase. Web3 refers to the next generation of the web's legal, technical and monetary architecture, including smart contracts, blockchain and cryptocurrencies. Web3 projects fit into various categories like digital services, decentralized finance (DeFi), and collectibles.
A decentralized crypto domain is a human-readable address that serves as a stand-in for your crypto wallet, rather than offering a human-readable collection of characters as an IP address. These Web3 domain names are nonfungible tokens (NFTs) or digital certificates of validity that may be traded on platforms like Solana's Solsea or OpenSea. Moreover, Web3 domains have Web3 domain extensions like .crypto, .dao and .eth.
The attractiveness of a Web3 domain name, which symbolizes a blockchain address, is straightforward. For instance, "Send the salary to bob.eth," rather than reciting some impossible-to-remember 42-character crypto wallet address, is considerably easier for the sender to remember and do.
Web3, also known as the "read-write-trust web" and the "decentralized web," aspires to take control of the web away from monopolistic tech giants like Amazon, Google, Microsoft and give the control of users’ data and content back to the users. So, how will Web3 work and how is Web3 DNS different from traditional domains?
A traditional blockchain currently has limitations that make it difficult to use and have reduced its widespread acceptance. An example of a standard wallet address is 0x483add48edbd9f83fb5db0289c7ed48c83f56992. Any typical individual would be scared by this, which would prevent adoption. This same problem occured with IP addresses that the internet had to overcome to gain popularity.
Blockchain organizations need a name service to establish digital identities across public addresses. Furthermore, consumers will find it much easier to interact with a named address than a stream of arbitrary alphabets and digits. For instance, a decentralized Web3 name service like the RIF name service is a DNS-inspired hierarchical namespace. RNS's design aims to provide a naming convention that can be used to refer to resources.
2.
What is an ENS and how does it work?
The primary purpose of the Ethereum name service (ENS) is to convert machine-readable identifiers like Ethereum addresses to human-readable names.
The web began as a decentralized system based on the DNS, with anybody able to buy, own and manage their domain name and move it from one host to another as needed, with complete control and ownership over all underlying data. But, how does a decentralized Web3 name service work?
The community has shown a lot of interest in ENS, which is a new name service built on top of Ethereum. The Ethereum Name Service is a Web3 blockchain system that allows users to establish their own unique and memorable usernames.
Therefore, ENS intends to provide a complementary solution to DNS by utilizing Ethereum smart contracts to govern domain name registration and resolution. Using the service, you can provide a single name to all of your wallet addresses and decentralized websites (DWebs). "alex.eth," for example, makes you recognize and quickly locate wallet addresses in a distributed environment.
FULL NEWS HERE: https://cointelegraph.com/explained/the-concept-and-future-of-decentralized-web3-domain-names
Web3 domains differ from standard domain name system (DNS) addresses such as Cointelegraph.com or thenewslack.io. A DNS is similar to a telephone directory, only it indexes public websites and their accompanying internet protocol (IP) addresses to enable the directory.
Thenewslack.crypto is the result of a 42-character hex string. However, in the case of Web3 blockchain domain name systems, one can simply remember a shorter phrase. Web3 refers to the next generation of the web's legal, technical and monetary architecture, including smart contracts, blockchain and cryptocurrencies. Web3 projects fit into various categories like digital services, decentralized finance (DeFi), and collectibles.
A decentralized crypto domain is a human-readable address that serves as a stand-in for your crypto wallet, rather than offering a human-readable collection of characters as an IP address. These Web3 domain names are nonfungible tokens (NFTs) or digital certificates of validity that may be traded on platforms like Solana's Solsea or OpenSea. Moreover, Web3 domains have Web3 domain extensions like .crypto, .dao and .eth.
The attractiveness of a Web3 domain name, which symbolizes a blockchain address, is straightforward. For instance, "Send the salary to bob.eth," rather than reciting some impossible-to-remember 42-character crypto wallet address, is considerably easier for the sender to remember and do.
Web3, also known as the "read-write-trust web" and the "decentralized web," aspires to take control of the web away from monopolistic tech giants like Amazon, Google, Microsoft and give the control of users’ data and content back to the users. So, how will Web3 work and how is Web3 DNS different from traditional domains?
A traditional blockchain currently has limitations that make it difficult to use and have reduced its widespread acceptance. An example of a standard wallet address is 0x483add48edbd9f83fb5db0289c7ed48c83f56992. Any typical individual would be scared by this, which would prevent adoption. This same problem occured with IP addresses that the internet had to overcome to gain popularity.
Blockchain organizations need a name service to establish digital identities across public addresses. Furthermore, consumers will find it much easier to interact with a named address than a stream of arbitrary alphabets and digits. For instance, a decentralized Web3 name service like the RIF name service is a DNS-inspired hierarchical namespace. RNS's design aims to provide a naming convention that can be used to refer to resources.
2.
What is an ENS and how does it work?
The primary purpose of the Ethereum name service (ENS) is to convert machine-readable identifiers like Ethereum addresses to human-readable names.
The web began as a decentralized system based on the DNS, with anybody able to buy, own and manage their domain name and move it from one host to another as needed, with complete control and ownership over all underlying data. But, how does a decentralized Web3 name service work?
The community has shown a lot of interest in ENS, which is a new name service built on top of Ethereum. The Ethereum Name Service is a Web3 blockchain system that allows users to establish their own unique and memorable usernames.
Therefore, ENS intends to provide a complementary solution to DNS by utilizing Ethereum smart contracts to govern domain name registration and resolution. Using the service, you can provide a single name to all of your wallet addresses and decentralized websites (DWebs). "alex.eth," for example, makes you recognize and quickly locate wallet addresses in a distributed environment.
FULL NEWS HERE: https://cointelegraph.com/explained/the-concept-and-future-of-decentralized-web3-domain-names
