The Future of decentralized Web3 Domains
TL; DR
People can use web3 domain names to access different decentralized applications, websites and social media platforms.
Decentralized domains are human readable usernames that stand in for digital wallets.
Blockchain domain names enable crypto users to establish web3 identities which they can use on different decentralized platforms.
Introduction
People have been using Web2 and Web3 alongside each other for more than a decade now. However, the greater majority of the global community find it difficult to use decentralized platforms and applications. The introduction of web3 domain names will make it simpler for people to use the blockchain technology. This post explores the concept of web3 domains.
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What are decentralized domains?
Web3 domains, also referred to as decentralized domains, are domain names registered on a specific blockchain to enable people to access web platforms and applications. Importantly, these domains are not controlled by centralized authorities such as corporations. The other good thing is that it is possible to transfer the domain names to other people.
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We can also view a web3 domain as a human readable address that stands in for a digital wallet address. In fact, this domain is a non-fungible token (NFT) or a digital certificate of validity which people can trade on NFT marketplaces such as OpenSea.
As an example a decentralized domain name stands in for a digital wallet address such as 0x443add46edbd9f83fb5db0289c5ed48c83f58892. In this case, a domain name like marshall.eth can represent the alphanumerical digital wallet address, 0x443add46edbd9f83fb5db0289c5ed48c83f58892.
What is the Ethereum Name Service (ENS) and how does it work?
The Ethereum Name Service (ENS) is a web3 technology based on the Ethereum blockchain that converts machine-readable identifiers into human readable ones. It enables users to create their own unique and simple-to-remember usernames. With this technology, a single username can connect to several digital wallet addresses, decentralized applications (dApps) and websites.
The ENS comprises three key components namely the registry, the revolver and the owner of the domain.
Registry
This is a web3 platform that contains the domains and subdomains. As such, it contains the important data related to these aspects. Its key purpose is to connect blockchain domains to the revolver which is accountable for them. In fact the ENS and Quick.com are examples of decentralized web3 domain registrars.
Revolver
The revolver is the smart contract which translates the names into digital wallets. Any smart contract that exists on the Ethereum blockchain which follows the set standards can become a revolver.
The owner of the domain
It is important to understand that any smart contract or digital wallet can become an owner of the domain and be able to connect with the revolver and update it. It can transfer the ownership of the crypto domain names or sub domain names to other addresses.
Domain and subdomain - One37pm
There are various web browsers like Brave that support ENS domain names. Also, the wallets that are connected to web3 domain names can contain someone’s avatars, website, social media and emails, among others.
Similarly, the owner of the domain can import his/her DNS into the Ethereum Name Service. Essentially, the Ethereum Name Service supports many web2 domains such as, “.org”,”.app” , “.io”, and “.com.” It is also worth to note that the ENS has several benefits which include decentralization, security and censorship resistance.
The uses of .eth domains
The.eth domains have many uses. For instance, they are used to establish web3 identities, build decentralized websites and to enable crypto-native payments.
Crypto-native payments
First and foremost, .eth domains replace the long difficult-to-remember crypto wallet addresses with simple ones. Specifically, crypto users will no longer need to use long alphanumerical digital wallet addresses such as 0x443add46edbd9f83fb5db0289c5ed48c83f58892. Instead, they will use their domain names like marshall.eth which are easy to remember.
Creation of subdomains
The web3 domain owners will be able to create different subdomains and transfer them while retaining the domain names. This will enable a company or other institution to give its employees the subdomains which helps to maintain a single corporate identity.
Establishment of web3 identity
The traditional way of recognizing web3 users is through their digital wallet addresses. Nevertheless, the ENS helps to give an individual a web3 identity across his/her decentralized websites, social media platforms, dApps and other supporting service platforms.
Building decentralized websites
Using the web3 domain name, an individual can create his/her web3 websites. One can do that using the ESN manager, an Ethereum blockchain-based user interface. With that, it is very simple to upload and access censorship resistance content.
Digital business card
An individual can use his/her .eth domain as a digital business card since he/she can include his name, job title, contact details and career goals among others.
Logging into social media platforms
An .eth domain owner can use it to login to decentralized social media platforms and different web3 applications.
How to register an .ens domain name
It is very simple to buy web3 domains. If you want to purchase and register an .ens domain name you sign to an Ethereum-supported web browser such as Chrome which has a MetaMask plugin. However, you should also have a small amount of ETH to cover for the transaction charge and the first year’s annual subion fee. You can also use other wallets like Trust Wallet and Coinbase Wallet.
MetaMask Wallet - Binanceacademy
The next step is to go to app.ens.domains to search for the domain name you want. From there, select the appropriate interval and start the registration process.
Once you have input the required details, you click the “Request to Register” button. You will be directed to MetaMask or the digital wallet of your choice to confirm the transaction. The last step is to click “Register,” and you are done.
Web3 domain names and the nearest future
Web3 domains are likely to increase the adoption of the decentralized web. This is because they simplify how people interact with applications, digital wallets and other web3 platforms. Such simplicity will attract many people to use the blockchain technology.
Conclusion
Web3 domain names are simplifying the way in which people interact with decentralized applications and platforms. They also make it convenient for crypto users to transfer digital assets. Therefore, decentralized domains should lead to the greater adoption of cryptocurrencies and other digital assets.
