What is a blockchain domain?
A blockchain domain is a Web 3.0 digital identity that humans can easily read and memorize. Therefore, it is an address, just like an ordinary domain name. However, cryptodomains do not belong to the Domain Name System (DNS). A blockchain domain is a domain name minted on a distributed ledger technology (DLT, such as a blockchain). Blockchain domains are also called “NFT domains”, “decentralized domain names” or “crypto domains”.
What is a blockchain domain for?
A blockchain domain name has multiple uses, including the following: digital address for a website, digital identity, financial transactions and marketing.
Can I connect a blockchain domain to a website?
Some browsers already support crypto top-level domains, such as Brave (supports .crypto), Opera (supports .crypto), Google Chrome Extension and Firefox Extension (both support .888, .bitcoin, .blockchain, .crypto, .dao, .nft, .wallet, x, and zil).
What does minting mean?
Minting an NFT or a blockchain domain is the process of writing a digital item to a blockchain (such as Arbitrum, Ethereum, Polygon or Solana). Writing in a blockchain corresponds to four principles specific to NFTs and cryptodomains: immutability, uniqueness, authenticity and ownership.
Where are blockchain domains?
Blockchain domains do not belong to the centralized Domain Name System (DNS). They are stored in users’ wallets, on a blockchain (usually Ethereum and Polygon).
Do blockchain domains generate the same legal issues as DNS domain names?
Yes, blockchain domains are growing extensively. It can certainly be said that the level of “cryptosquatting” is equivalent to the level of cybersquatting in the middle of the 1990s.
Can I monitor blockchain domains to detect potential brand infringement?
IP Twins offers a cryptodomain monitoring service to detect infringements of your trademark rights. However, since blockchain domains are not created following the DNS procedure but are minted on a blockchain, the monitoring service works differently.
How can I enforce my trademark rights against a blockchain domain?
To date, there is no alternative dispute resolution system like UDRP. However, depending on the circ*mstances of the case, IP Twins can help brand owners enforcing their trademark rights against blockchain domains, particularily if the infringing blockchain domain is for sale on an intermediary platform such as OpenSea.
How can I definitely remove blockchain domain or an NFT infringing my IPR?
Due to the principle of immutability of cryptoassets, in the current state of technology and legislation, only the owner of the blockchain domain or NFT concerned has the power to “burn” the latter in a certain and definitive manner. Therefore, the IPR owner must obtain a court injunction against the holder of the relevant cryptoasset. For its part, IP Twins can detect infringing blockchain domains/NFTs and help IPR owners to remove offers to sell cryptoassets on intermediation platforms such as OpenSea.
What is OpenSea?
OpenSea is the largest intermediation platform that connects buyers and sellers of NFTs and blockchain domains.
FAQs
A blockchain domain is a Web 3.0 digital identity that humans can easily read and memorize. Therefore, it is an address, just like an ordinary domain name. However, cryptodomains do not belong to the Domain Name System (DNS).
What are the sub domains of blockchain? ›
A web3 subdomain is a domain that is built on top of a decentralized, blockchain-based platform, such as Ethereum. It is similar to a traditional subdomain in that it is a part of a larger domain, but it is built using decentralized technology and is often used in the context of the decentralized web (Web3).
Is there a .crypto domain? ›
What are crypto domains? Crypto domains are NFTs that function as universal addresses for crypto wallets and websites, which is why they are also referred to as NFT domains. Crypto domains, unlike traditional domains, are not stored in a server, they are stored in a blockchain.
What are ens domains? ›
Ethereum Name Service (ENS) is a domain naming system built on the Ethereum blockchain. Ethereum Name Service allows the randomly generated letters and numbers of a standard Ethereum address to be converted into more easily recognizable words, like the name of a person or brand.
What are the 4 types of blockchain? ›
This blog delves into the four main types of blockchain—public, private, consortium, and hybrid—each with distinct advantages, drawbacks, and ideal use cases, highlighting their growing importance in the finance sector.
What are the 5 blockchain layers? ›
What are the primary layers of blockchain technology? Blockchain consists of five layers: hardware infrastructure, data, network, consensus, and application layers. These layers handle functions from data storage to user-facing applications.
What are the different areas of blockchain? ›
Blockchain technology can include public, private, hybrid, consortium, permissioned, or permissionless blockchain. Each blockchain type has its unique attributes, pros and cons, and these influence their specific use cases or applications.
Is Ethereum a blockchain? ›
Ethereum is a decentralized blockchain platform that establishes a peer-to-peer network that securely executes and verifies application code, called smart contracts. Smart contracts allow participants to transact with each other without a trusted central authority.
What is an example of a crypto domain? ›
Blockchain domain names are addresses used for sending and receiving cryptocurrency, similar to email addresses. They are stored on a public ledger, accessible to anyone, and secured through a smart contract. An example would be dappradar. eth.
What is a Web3 domain? ›
A web3 domain name is a type of domain name that is registered on a crypto network, such as Ethereum. It can be used to send and receive cryptocurrency payments, access dApps, and interact with smart contracts. Traditional crypto addresses are complex, long strings of characters.
Similar to an email address, a blockchain domain is an easy-to-remember address for sending and receiving crypto. Instead of having to copy and paste long, complicated crypto addresses you can simply type in a blockchain domain like john. crypto, reducing the stress of sending your crypto to the wrong address.
Why are people buying ENS domains? ›
The ENS system is designed to be resistant to censorship
This makes the system resistant to censorship, as no one can interfere with or block access to your domain name. This ensures that you are able to keep it safe and secure for as long as you own it.
What is the highest paid ENS domain? ›
“business. crypto” is the most expensive crypto domain by Unstoppable Domains, after it was sold for $0.12 million in 2022. Even so, the most expensive ENS domain “paradigm. eth” cost 12.5 times more than the most expensive Unstoppable Domains “business.
What is a domain name service in blockchain? ›
A Blockchain DNS, or Blockchain Domain Name System, is a system that uses blockchain technology to store and manage domain name records in a decentralized and secure manner.
What are the application domains of blockchain technology? ›
These areas include cryptocurrency, healthcare, advertising, insurance, copyright protection, energy, and societal applications.
How do I register my blockchain domain? ›
Registering a blockchain domain is easy with Unstoppable Domains. All you have to do is go to the website, type the domain you want into the search bar to see if it is available, and follow the steps to register it.
What is blockchain in medical domain? ›
How Can Blockchain Be Used in Healthcare? Blockchain's distributed ledger technology facilitates the secure transfer of patient medical records, strengthens healthcare data defenses, manages the medicine supply chain and helps healthcare researchers unlock genetic code.
