Where have I seen this idea before?
Another group is throwing its hat into the ring to offer blockchain-based domain names.
Quik is launching 10 alt-root domain name extensions, including .metaverse, .vr, .chain, .address, .i, .bored, .dog, .shib, .btc and .web3.
The company’s model most closely resembles Unstoppable Domains, which offers domains ending in extensions such as .crypto, .bitcoin and .x.
Quik and Unstoppable’s domains don’t overlap, although nothing is preventing either company from offering identical top level domains.
After reading Quik’s whitepaper, it’s unclear to me why anyone would register these domains.
The whitepaper (pdf) states:
These NFT domains are not part of ICANN and traditional DNS and shall never be compared to a traditional domain name.
So why call them domains? And why say they have some similar uses, such as for use with websites?
In order for a Quik domain to resolve or connect to a wallet, users will have to download a browser extension or browser that doesn’t exist yet.
Oh, and people in the United States can’t buy the domains, according to Quik’s whitepaper.
In addition to Quik and Unstoppable Domains, the other major blockchain domain systems are Ethereum Name Service and Handshake. Both suffer from significant drawbacks that will make adoption difficult. They also don’t seem to offer much that existing “real” domains don’t provide.
So these non-domain domains come with lots of drawbacks but little upside. It seems that the main reason people are buying these domains is that they think they’ll be able to sell them to someone else for more money who thinks they’ll be able to sell them to someone else for more money who thinks they’ll be able to sell them to someone else for more money…
Mark Thorpe says
When does it end?!
I’d rather own new gTLD’S like .xyz .link etc
Mike C says
The use of Handshake is that it offers a decentralized root zone that is not controlled by an organization. You don’t have to trust. Also, similar to Bitcoin, when you own the keys to a TLD you actually have complete control of it. There are a lot of other benefits to having domains be on a blockchain. For another example, you can use secure https without the need to trust Certificate Authorities (secured with DANE). My company Impervious launched a browser which allows you to view Handshake sites secured with DANE: https://impervious.com/beacon
Andrew Allemann says
But if I register a second level handshake name, don’t I have to trust the top level owner?
Hans Wechsler says
At the moment: partly
In the future (1-2 years): no
The popular TLDs of which SLDs are offered for sale, like .c, .api or .txt are in the custody of Namebase (bought by Namecheap). The TLD owners themselves no longer have access, so you only have to trust Namebase, or Namecheap. In principle, there is no big difference to regular domains, which are also administered by central authorities. However, this does not apply to TLDs offered via Gateway io, as far as I know TLD owners have full access there. However, the CEO of Namecheap has announced to fully decentralise all Handshake SLDs, of which the TLDs are in custody at Namebase. This is certainly not done in a few months, but there are already pioneers like .forever domains, which have shown that full decentralisation of Handshake SLDs is possible.
Mike C says
Not in all cases. My company created foreverdomains.io on the Handshake TLD .forever. We sent the name to a script so that no one owns .forever and anyone can renew it. So you don’t need to trust anyone to own a .forever SLD, and you never have to renew it. You can see more info here: https://ca98am79.medium.com/introducing-forever-domains-f0248f8c614f
Kostas says
All alt-ens blockchain names are pure scams. No organic use or purpose. ENS is the only web3 system that makes sense and isn’t a cash grab which also supports ICANN extensions. Maybe in the future some other system emerges that is truly different/better but right now there’s nothing of value outside ENS.
Hans Wechsler says
Did you even look at Handshake before you made that claim? How exactly does ENS “support ICANN extensions”??? They just “have” .eth and haven’t even claimed it at ICANN. What you described is exactly what Handshake does: Securing existing TLDs and top 100.000 Alexa domains that they can be claimed by the owner on the Handshake zone. Btw: ENS secured .ETH on Handshake not ICANN! And 4 legacy TLDs have already been claimed on Handshake as well (.pw, .gay, .wiki. and .ink) and more than 1k of the top 100k Alexa domains. Neither existing domains nor TLDs can be claimed at ENS! There is absolutely nothing at ENS that supports ICANN extensions.
Andrew Allemann says
https://domainnamewire.com/2021/08/31/ethereum-name-service-ens-now-works-with-all-second-level-domains/
Jothan says
The realm of experimental namespaces like Handshake, Unstoppable, etc. seem exciting and many have some cool features if you overlook raw interopability gaps.
These namespaces and NFTs etc require installing special stuff to even use, which means the loss of ability to practically use them in the manner that one has come to expect domain names to function across the past three decades.
Tolerance, patience and higher than average technical skills are one thing, the other area that could present some pain is that fifty different companies could launch a .wallet or other “TLD” in a similar manner, which confuses the heck out of any tech that would be presented with resolving them on the same networks or protocols, so the ‘Highlander Effect’ (there can be only one) that servers or programs need could divert wallet transmissions, transfers or general web2/web3 traffic.
If you seek to still email all your friends and get responses back from them, or the ability to print an email address or website on your business card or advertising, it is a safer bet to stick with “AFTs” (Actual, Functioning Technology) and use the abundance of options available to you in the existing domain name system.
ICANN’s Office of the CTO (OCTO) published a notice about this, [Link: https://www.icann.org/octo-034-en.pdf ] to help educate and reduce confusion. Before dismissing it as an “of course they did, they’re scared to lose their authority” document, just read it and then consider the points raised in it.
Some folks like to throw caution aside and make risky investments, and some of them pay off. I passed on BAYC NFT stuff and likely could have bought my neighborhood with proceeds, so it all depends on your risk threshold on what you chose to invest in. If you are looking for stronger certainty, existing domain names delegated in the IANA root are where to focus, for now.
Paul Revere says
Totally get your point. My son wonders why I won’t buy a car. Jokes on him. All I have to do is give Beauty a swift kick and I’m off…No key. No starter. No shifting. No gas. No problem.
Don says
unstoppable has registered over 2 million web names and it is the first inning in crypto People are discounting web names. . Everyone is going to need a wallet address in the future it will be required imo. You have 8 billion people on earth. If 5% get a wallet address in next 10 years that is 400 million wallets with an average of 2 per person you are talking about 800 million wallet names. Handshake and namecheap will come out on top. Godaddy missed the boat on this one. We will see what happens. These web wallet names serve only one purpose, and that is too make it an easy to remember wallet name to give to your friends. HNS names for 10 bucks it is worth it. Ens names 10k no so much lol.
Bernhard says
I did some research and I would say Handshake looks most promising in my opinion. I mean getting access to the root zone and being capable to own TLDs makes a huge difference.
Hans Wechsler says
I agree and in the future, Handshake SLDs should also be fully decentralised. Handshake TLD owners can already profit by staking their TLD with Namebase so that SLDs are available for purchase from various registrars, with TLD owners earning money on each sale. The owner of .c already makes over $100,000 from the sales of SLDs.
Street Credit says
Definitely feel like NFT domains are the future. Handshake ($HNS), ENS ($ENS), DecentraWeb ($DWEB) and Unstoppable all seem to bring a different element into the space. Not sure which one if any of these will ultimately “win” but someone will. The current ICANN system is destined for displacement.
joesaba2014 says
I have several domain (Com) blockchain, insurtech, nft, bitcoin, eth, crypto, ethereum, metaverse.
Everything that is ordered and commanded in a future fashion market, post-pandemic and with great respect for apes and their investments, I don’t know to what extent the majority will endure.