What is a Blockchain Domain and Should You Buy One?
Get yourself simple, human-readable blockchain domain names with which you can receive all cryptocurrencies, and build censorship-resistant websites that only you can put up and takedown
What is a blockchain domain?
A blockchain domain is a blockchain-based domain name. That is, a blockchain domain can be assigned to a website with which you want to transmit any transaction, document, private key, or payment that you want to do using a blockchain domain, and can even have its data encrypted or under protection, which is more than any other domain type. The blockchain domain’s data is always encrypted so that only you (or your transaction partner) can decrypt the data and it can be transferred and exchanged between you or your transactions partner, only if you are using the same blockchain domain name. Here is an example of a web domain registration which you could use to create a blockchain domain for a website that you want to use to handle transactions using a cryptocurrency like Bitcoin.
Why would you want to buy one?
Thanks to Lightning Network (previously called Zak protocol), it is now relatively trivial to carry out very fast, low-cost, anonymous transactions, including microtransactions such as buying a cup of coffee using a regular currency. With bitcoin, this is cumbersome, expensive, and also violates the security of the network due to transaction confirmation delays. With Lightning, you can pay anyone instantly, on any device, using any currency, for just pennies in fees. Note that there are other ways to do this (the above works with the most popular one in existence today, which is bitcoin), but lightning is the most famous. Blockchain domain name hosting is a relatively new concept in the sense that it allows you to host websites with a unique, human-readable domain.
You buy it for a cryptocurrency of your choice on the main market, and there are tons of cryptocurrency exchanges for different cryptocurrencies. For example, the marketplaces are Coinbazaar, Kraken, Binance, CryptoMarket, ACX, and many others. Once you have found a suitable domain, contact the company or domain owner and buy it for a token. So the first thing is to buy a cryptocurrency, the second is to buy a domain name. That’s it. How do you create a domain name with a blockchain? As said before, the blockchain domain names are human-readable and therefore easy to implement. The easiest way to implement a blockchain domain name is to ask some people to help you to build it on Github. In most cases, they will agree to this and will modify the domain and write the code.
How much does it cost?
Prices are always based on demand. All other factors being equal, prices are based on the top 1000 domain names. You can get yourself a domain name from 1 domain name provider for as little as $12. There are of course always opportunities to get the cheapest domain name. How do I buy domain names from one domain name provider? Depending on your preference, you can choose to purchase your domain names on a domain name auction site, on a decentralized marketplace like NameCoin or on a centralized domain name provider like Name.com.
Your personal blockchain could have less bitcoin and do more. Our team built a completely secure, decentralized, and encrypted block chain-powered blockchain network for small, medium, and large organizations. We released it to the community, the next step for any new system is to start monetizing it with either subscriptions or consulting. If you have any questions regarding blockchain domain name buying, please leave a comment, we will be happy to help you.