In today’s time and age, the importance of having an online presence remains unquestioned and unparalleled. People from all parts of the world have bridged the distance between them and endless opportunities with the use of this highly effective and powerful tool. With advancements and technological developments taking place at a rapid speed, it seems only natural that Web2 is now being quickly replaced with Web3.
As a user, if you are still confused about what is web2 and what is web3, how they are different, which one is more beneficial, the advantages that they offer, and more, then you, by all means, are on the right page. To understand not just what they are but also to understand how you can register a Web3 domain, simply read on.
What are Web2 domains?
Website addresses online are known as Web2 domain names. They are the URLs that are typed into your browser to access a particular website. These traditional domains are managed by centralised domain registrars and governed by organisations like ICANN (Internet Corporation for Assigned Names and Numbers).
When you purchase a conventional domain name from a domain registrar, you essentially rent it from them for a predetermined time, usually one year, and then renew it yearly. Although you are in charge of the domain at this time, the registrar continues to be the actual owner.
What are Web3 domains?
Before we jump on how to register a Web3 domain, it is first vital to understand what Web3 domains are all about. In order to function on decentralised networks like the Ethereum, Algorand, Solana, and Aptos blockchains, a new domain name system (DNS) called Web3 domains was created. Web3 domains are registered, managed, and regulated on a decentralised network rather than depending on conventional centralised domain registrars.
Using the DNS protocol, a Web3 domain establishes a route to websites and decentralised applications. They can also be referred to as NFT domains because they are non-fungible. In order to create these NFT domain names on-chain, Web3 users rely on blockchain technology and its security.
Comparison Between Web2 and Web3 Domains
Now that we have a clear understanding about what Web2 and Web3 domains are all about, its time to discover factors that makes them different.
- Ownership – Domain names come in two major varieties: conventional or Web2 domains and Web3 domains. We are all familiar with conventional domains, such as.com, .org, .net, etc. They are rented to people or businesses for a price and administered by centralised organisations. Web3 domains, on the other hand, is a fresh kind of domain name system created to function on decentralised networks like Ethereum, Algorand, Solana,Aptos and many other public blockchains. On a decentralised network, they are registered, managed, and controlled. Therefore, if you are looking for a platform that allows you complete ownership, then its time for you to register Web3 domain today.
- Access – Internet webpages can be accessed using conventional domain names. They function similarly to your home address on websites. You rent them and pay a price to keep them alive year after year; you don’t actually own them. On the other hand, when you register Web3 domain, you get real ownership of your online identity. You have no restrictions on how long you can retain, transfer, or sell them.
- Censorship – Web3 domains are superior to conventional domains in a number of ways. They are impervious to censorship and can only be taken down by you. Through the use of the decentralisation principle, they also provide security. With conventional domains, your domain registrar controls everything. You’re in danger if there is a security breach there. When you register Web3 domain, you have the upper hand. Your territory, your laws.
- User-centric – Conventional domains are vulnerable to censorship and takedowns because registrars may be forced to revoke or transfer ownership as a result of legal or political pressure. However, due to their decentralised structure, when you register Web3 domain, the platform becomes censorship-resistant. They are perfect for free expression and fighting totalitarian rule because they cannot be quickly taken down or restricted.
- Interoperability – Conventional domains are not designed to work with decentralised applications and blockchain networks. They primarily serve as a guide for IP addresses. Because they were created with interoperability in mind, Web3 domains can efficiently function with various blockchain ecosystems and dApps.
- Cost-effectiveness – With a variety of price points, conventional domains offer a large selection of domain extensions. Renewal fees are typical, and premium domains can be pricey. Web3 domains on the other hand, often have fixed pricing. Even when selecting and registering Web3 domain that is premium and costly in the short run, the cost structure as a whole is more predictable and transparent.
- Crypto Domain – Cryptocurrencies are not naturally integrated with conventional domains. For crypto domains and related transactions, users must rely on outside payment processors. Web3 domains frequently include built-in cryptocurrency wallets, making the sending and receiving of digital money easier.
How do Web3 Domains Work?
The registrars, the registry, and the resolver are the three key organisations used by Web3 domains. These three organisations make it possible to use Web3 domains in distributed systems. Through a registrar, which a registry keeps and manages, users can register distinct, human-readable names. In contrast, the resolver’s job is to translate a domain name into its matching blockchain address. Here is how the resolver, registry, and registrar operate.
- Registrars – The services offered by Web3 domain registrars go beyond hosting. They also enable people to function independently of a centralised server. This gives Web3 domains an advantage over conventional domains by encouraging online privacy and security.
- Registry – The ownership and related blockchain addresses of web3 domain names are stored in registries, which are databases. They control the distribution and assignment of domain names and are implemented as smart contracts on a blockchain network. Additionally, registries could include a voting system for network participants in their governance framework. After setting up a governance system, users could suggest registering new features.
- Resolvers – Typically, Web3 domain resolvers are implemented as software programs that communicate with a registry. By translating between domain names and blockchain addresses, resolvers support name resolution. Additionally, they are in charge of address routing and associating requests with the appropriate blockchain address. Additionally, Resolvers use caching to lighten the load on the registry.
The fact that a person alone can be the domain’s legitimate owner sets Web3 domains apart from conventional domains. No two domain names can be used in the same way. You can benefit from safe access to decentralised applications, complete domain control, and greater privacy when you register Web3 domain.
In conclusion, although Web3 domains and normal domains have the same fundamental function of identifying websites and other online resources, they vary significantly in essential respects, such as their degree of centralisation, ownership, security, censorship resistance, and interoperability with other technologies. The user’s or organisation’s individual demands and objectives will determine which option is best for them.