Decentralized domains, also known as crypto domains, are a growing phenomenon in the decentralized internet. Blockchain or cryptocurrency exchanges store these domains. While cryptocurrency users currently use them mostly, their popularity is increasing. In 2022 alone, the Ethereum name service reported over 2.2 million registrations of .eth domain names. However, alongside this growth, there has been a surge in crypto scams, resulting in losses of $3.5 billion in 2022.

In the past, people have made efforts to create alternative domain name resolution systems that operate outside the traditional Domain Name System (DNS) administered by ICANN. However, none have gained significant traction. One major obstacle has been the requirement for users to utilize a crypto browser to access blockchain domains. Crypto browsers or special plug-ins have limited their widespread adoption. Nevertheless, with the increasing acceptance of cryptocurrencies among users, blockchain domains could gain momentum. It is worth noting that blockchain domains can also be exploited for various types of scams, as their unique combination of being brand-named and transaction endpoints makes them an attractive target. As the market for blockchain domains expands, they warrant further attention.

Why Decentralized Domains are important?

Organizations like the Internet Corporation for Assigned Names and Numbers (ICANN) control traditional domain names with extensions like .com, .net, and .biz. People purchase these domains through domain registrars such as GoDaddy or Bluehost. Centralized services like Amazon Web Services host the content of these websites. This makes them vulnerable to takedowns by government authorities if they believe the content violates laws or regulations. For example, in a one-year period from 2018 to 2019, various law enforcement agencies seized 30,500 domain names across 20 countries for selling pirated goods and counterfeit products.

In countries with authoritarian governments, website takedowns are even more common. Additionally, censorship extends beyond illegal products to include news coverage that the government wants to suppress. The growing interest in decentralized domains using extensions like .crypto, .eth, and .bit, has arisen due to the reliance on centralized domain names. Decentralized domains are stored in multiple locations, making them virtually impossible to be taken down or censored. As global trends in business and government continue to evolve, the demand for alternative, decentralized options that do not rely on a single entity’s benevolence is increasing.

How Decentralized Domains Improve Security and Privacy Online

Decentralized domain names, based on blockchain technology, offer several improvements to security and privacy online. One of the primary motivations behind using decentralized domains is decentralization itself, which brings a host of benefits.

Anonymity

One major advantage is anonymity. Just like Bitcoin transactions, blockchain-registered domains are anonymous. This means that the domain owner’s identity is not easily traceable, providing an additional layer of privacy.

Censorship Resistance

Another crucial benefit is censorship resistance. In a centralized domain name system (DNS), the operating authority has the power to remove registered domains from the registry, making them vulnerable to censorship. However, with blockchain-based domains, there is no single entity that controls the domain names, making censorship much harder. The distributed nature of blockchains makes it difficult for any single authority to influence or control the domain names. This ensures that they remain accessible and resistant to censorship.

Certificate Authorities

Furthermore, the security of decentralized domains is enhanced compared to traditional domain names. Centralized domain names rely on certificate authorities (CAs) and SSL certificates to verify the identity of websites. However, there are security risks associated with Certificate Authorities (CAs) being hacked or compromised. In contrast, blockchains are practically tamper-proof and can serve as a decentralized certificate authority, providing secure verification of domain ownership.

Decentralized domains also offer protection against domain hijacking and fraud. Valuable domain names in traditional domain name systems can be lost due to social engineering or fraudulent activity. However, tampering with blockchain-related activities is significantly more difficult, with risks arising from user errors such as losing private keys rather than fraudulent activities.

Smart Contracts

Web3 domains, based on blockchain, offer enhanced security features such as decentralization, encryption, and immutability. The use of smart contracts in managing ownership adds an additional layer of security to web3 domains. Meanwhile, automatic rules can be set up for transferring ownership. This makes it more challenging for unauthorized individuals to steal or take control of a web3 domain.

How do I register decentralized domains?

To register with DApps Soul and take advantage of its decentralized identity and domain name system, follow these steps:

1. Visit the DApps Soul website and create an account if you do not have one already.
2. Choose a unique domain name for your dApp. DApps Soul uses the “.5ire” domain extension, which operates on the Matic Network’s testnet, providing you with a unique and secure domain name for your decentralized ide on %ireChainntity.
3. Select your preferred registration plan. DApps Soul offers two plans: annual and lifetime. The annual plan costs 10 MATIC, while the lifetime plan costs 25 MATIC.
4. Complete the payment process. DApps Soul accepts payment in MATIC, a cryptocurrency that operates on the Matic Network.
5. After successful registration, you will have full control over your domain name and associated decentralized identity. You can configure DNS details for your domain, host websites, and manage your digital identity securely and efficiently.

Why register a Web3 Domain with DApps Soul on 5ireChain

Free NFT

As an added benefit, each domain registered with DApps Soul with 5ire extension comes with a unique non-fungible token (NFT) that represents the ownership of the domain. You can trade this NFT on platforms like OpenSea, allowing you to buy, sell, or trade your domain as a digital asset.

Transferable, Flexible, Versatile

DApps Soul domains are transferrable, providing you with flexibility and versatility. You can transfer your domain to another user, further expanding the potential uses of DApps Soul as a comprehensive domain management solution.

Future Plans

DApps Soul has plans to launch more domain name extensions in the future, catering to diverse user preferences and use cases, and expanding its offerings and potential use cases.

DApps Soul has various use cases, including simplifying user interactions with dApps, enabling cross-chain interactions, empowering users to maintain their digital identities, facilitating NFT trading, web hosting, using decentralized identities as domains, and utilizing transferrable domains for payment and Web3 integration.

The future of Decentralized Domains?

• Web3 domains are believed to have a significant role in the growing decentralized Web3 ecosystem.
• Increased adoption of web3 domains is expected as more people become familiar with decentralized applications and the benefits of the Ethereum blockchain.
• Efforts are being made to improve the usability of web3 domains and make them more accessible to a wider audience, including the development of new web3 browsers and integration into existing web browsers.
• Web3 domains have the potential for diverse use cases, such as creating decentralized social networks, marketplaces, and online gaming platforms, as the decentralized web continues to evolve.
• Competition for desirable web3 domain names is likely to increase as their value gains recognition in the industry.
• The future of web3 domains is uncertain, but they are expected to play a significant role in the decentralized web ecosystem and find innovative applications.