When sending cryptos to a wallet, one of the issues usually encountered is ensuring that you’re inputting the correct address. Since the address is a complex string of letters and numbers, even a simple copy and paste will almost certainly result in you meticulously verifying that everything is pasted correctly.
That’s where Unstoppable Domains come into play. With its blockchain domains, Unstoppable Domains hopes to help in the evolution of cryptocurrency. It also promises to be the domain address of the future by providing sophisticated crypto addresses supported with a human-readable name.
In this guide, we’ll conduct a review of unstoppable domains providing you with everything you need to know about it. So, stay tuned as we get started.
What are Unstoppable Domains?
Unstoppable Domains is a San Francisco-based company that was launched in 2018 by Matthew Gould. The purpose of creating Unstoppable Domains is to make it easier for users to connect with crypto addresses. It aspires to be similar to the DNS system, which eliminated the need for users to memorize IP addresses to access websites, except for crypto addresses.
The pioneers behind this domain have achieved great success in this manner, as they have created a domain system that allows users to set up payments for several digital assets under a single domain name. Asides from that, this domain is used as a fully functional site having full access to a wide range of Decentralized applications. This is all thanks to the domain being hosted on the blockchain.
Basic Features of Unstoppable Domains
Unstoppable Domains have a few distinguishing traits. Given the way typical domain ownership works, the fact that it comes with a one-time purchase with no annual renewal is incredibly enticing. Likewise, the domain is also censor-resistant, meaning it cannot be taken down by anybody other than the rightful owner.
The domains also have more functionality than conventional domains because they can be used as a payment gateway. They can also be used to build websites supporting a wide range of decentralized applications, enabling smart contracts to be utilized on your site.
Another notable and appealing feature of Unstoppable Domains is that it permits you to have a single address for receiving over 270 crypto assets. That implies that once you set it up, you’ll only need to remember your domain and your payments will be routed to the wallets you set up for each cryptocurrency. It is easier not just for you, but also for anyone you wish to receive payments from.
Unstoppable Domains Services
Unstoppable Domains offers a toolset for buying and minting domain names, connecting them to crypto addresses, and creating and deploying websites. Let’s have a look at each one individually;
Buy and Mint Domains
While getting started, Unstoppable Domains enables users to buy domain extensions and mint them to their wallets. Unstoppable Domain ownership is represented by non-fungible ERC721 tokens that are kept in the owner’s wallet rather than in the hands of a third party. They only have to be purchased once, and there are never any renewal fees.
They can easily be sold or transferred at any time. Payments can be made with a variety of fiat and cryptocurrencies. You need to be aware that, when done on layer 1, minting a domain usually incurs additional Ethereum gas fees. However, Unstoppable Domains has recently integrated with Polygon, allowing for gas-free layer 2 minting which is quite remarkable.
Add Crypto Addresses
You can use a domain name as a human-readable address for receiving crypto once you’ve purchased it. That implies that users of supported wallets won’t have to type or paste your public key anymore.
Unstoppable Domains offers a simple interface for connecting wallet addresses for supported cryptocurrencies to your website. With that, you can link crypto assets like Bitcoin, Ethereum, Litecoin, Ripple, and Zilliqato your site.
Notable wallets that presently support these human-readable addresses include; Coinbase Wallet, MyEtherwallet, Trust wallet, Chainlink, among others.
Develop and Link Websites
You can also use Unstoppable Domains to create and connect websites to your domain name. This may appear to be too complicated for you, but Unstoppable Domains offers some excellent tools to make the process simple.
Unstoppable Domains has four different types of templates that are all free to use. Unstoppable Domains will allow you to store your website with the decentralized storage network named InterPlanetary File System (IPFS), with just a single click when you use a template.
There is another option where you can use the Unstoppable Domains user interface to manually establish your website from scratch and link the IPFS hash. These decentralized websites can be viewed negatively in the popular Brave and Opera web browsers, as well as by installing the Unstoppable Domains browser plugin in Chrome, Firefox, and Edge
Unstoppable Domains Security Measures
Unstoppable Domains are incredibly secure because once claimed, they exist on the blockchain under your address, making them as secure as the blockchain itself. Another reason why it’s very safe and secure is that the domain can’t be blocked by anyone other than you, ensuring that your website is never taken down due to censorship.
Likewise, the website for purchasing these domains is also secure, with two-factor authentication available.
The Cost of Unstoppable Domains
Unstoppable Domains costs are determined by two main criteria, though it should be noted that purchasing a domain is a one-time expense that does not require any annual renewals.
The first element is the cost of the domain itself, which can range from $20 to well over $1000 depending on the domain you choose. Domain costs are determined by domain type and length, with shorter domains costing more. There are also premium names that cost tens of thousands of dollars.
The second consideration is the gas fees connected with claiming your domain via the Ethereum network. The transaction to claim the domains is in ETH and is not included in your initial purchase because the domains are kept on the Ethereum blockchain.
The amount of gas you pay will be determined by the current price of ETH and network congestion at the time of the transaction. Overall, you can probably get a cheap crypto domain and claim it for less than $50.
Unstoppable Domains Payment Methods
When purchasing an Unstoppable Domain, you have a variety of payment options. To get a domain up and running, you can select any one of your choices. Unstoppable Domains allows credit card payments via Stripe, PayPal, as well as the following cryptocurrencies;
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Ether (ETH)
- Litecoin (LTC)
- Dai (DAI), and
- USD Coin (USDC)
Potential Deal Breakers in Unstoppable Domains
The cost of acquiring your domain with Ethereum is the one real possible dealbreaker when it comes to using Unstoppable Domains. This may only be a dealbreaker if you do not have any Ethereum at your address and need to acquire some to claim your domain, or if you believe the gas fees are excessive.
However, this is a one-time transaction cost, and it will be the additional fee associated with getting your domain unless you decide to sell or transfer it to someone else.
Frequently Asked Questions
Below are some frequently asked questions by some users relating to Unstoppable Domains.
Are unstoppable domains Supported on the Bitcoin blockchain?
Unstoppable Domains are currently unavailable on the Bitcoin blockchain. Although Unstoppable Domains can be used to get Bitcoin to your Bitcoin address, they are currently only available on the Ethereum and Zilliqa blockchains.
Your payment is handled by routing it through the ETH or ZIL blockchains, where it is confirmed, signed, and then transferred to the appropriate blockchain.
What is the major aim of Unstoppable Domains?
Unstoppable Domains’ major aim is to create decentralized identities for individuals all over the world and to make connections with cryptocurrency addresses easier by providing them with a human-readable domain. That is similar to how domains replaced IP addresses for the websites you often visit.
Can Unstoppable Domains be referred to as a crypto wallet?
Unstoppable Domains is not a wallet for cryptocurrencies. They do, however, sell blockchain domains. They will keep your domains in their possession till you claim them. Meanwhile, they do not provide any cryptocurrency wallet services.
Are Unstoppable Domains beneficial to cryptocurrencies?
Although the answer to this issue is subjective, it should be noted that Unstoppable Domains contribute to widespread adoption by making it easier for users to engage with crypto addresses. In essence, Unstoppable Domains is beneficial for crypto since it makes it easier to transfer cryptos to individuals by providing simpler domains that store all of your receiving addresses.
Unstoppable Domains is a fantastic invention that allows anyone to benefit from the new generation of blockchain-based human-readable addresses and websites. Unstoppable Domains does a great job at simplifying the procedure for an average user, even though the concept is complicated.
The website builder is also really easy to use, especially considering how intricate it is to design and deploy a decentralized website today. In essence, human-readable addresses and decentralized websites are two inventions that are likely to become increasingly popular in the future. With that, Unstoppable Domains may be the easiest way to get your own.