On 25th of May 2020, our Community Manager Arnold had a Live AMA session with Brad Kam, Co-Founder of Unstoppable Domains on Crypto.com's Official Telegram Channel.
Arnold: Welcome Brad! We’ve got a lot of questions for you. But to start, can you briefly introduce the project and your role in Unstoppable Domain?
Brad: Hi everyone! I'm Brad, Co-Founder, and CRO at Unstoppable Domains. We're a mostly remote team, but with headquarters in San Francisco
We build domain names on blockchains. We believe that everyone in the world should be able to use the internet without being censored. This is why we are trying to make the decentralized web a reality as quickly as possible. Unlike traditional domains, blockchain domain registries are smart contracts. Domains are NFTs stored by users. Domains are used to simplify crypto payments and to build censorship-resistant websites. We created two domain registries, the first is called .crypto and the 2nd is called .zil.
In March 2019, we publicly launched, 15 months later we have:
- 220 domains registered
- 8K websites launched including kyber.crypto, myetherwallet.crypto, switcheo.crypto
- 20 wallets integrated - Myetherwallet, Trust Wallet, imToken, Mycrypto, Coinomi
- 1 browser - Opera Browser
We were really excited by all of the questions we got from the community so far. We have a few that we've already picked out, but I think we should have some time to answer more as well.
Arnold: Excellent! I've been very interested to see what the community has been able to come up with for you Brad. Thank you very much for the introduction. You folks have certainly been building through these times of uncertainty. Now let’s jump into the Q&A section!
Q1. If Unstoppable's IP is blocked or deleted, how will this solve everything for censorship? And how is Unstoppable protecting user information and blocking censorship?
Brad: Domain lookups are performed from the blockchain, so if Unstoppable Domain is blocked users can still resolve the content on domains. Additionally because the names are on-chain users can directly manage their domain on-chain.
Also, it doesn't even matter if Unstoppable goes out of business. Your domains are on the ethereum blockchain
Q2. Can you explain the major difference between current Non-blockchain based domains and Unstoppable Domains? Can we set multiple crypto wallets with one domain?
Brad: A traditional domain is part of DNS. It is stored on servers and managed by a specific group of people. Domains must be stored with a registrar that acts as a custodian. Both the registrar and the registry (.com) can revoke a domain. Blockchain domain registries are smart contracts on blockchains. Domains are NFTs stored in a user's wallet. Only the user can move them around. This is the core of what makes them censorship-resistant. The domains rely on the ethereum blockchain for security, not centralized DNS servers.
Q3. What are the main benefits and purposes of blockchain-based Domains? Why any Normal user or even any business should have crypto domains?
Brad: Blockchain domains can be used to create censorship-resistant websites. Right now, this makes the most sense for Dapps and other crypto companies who need to have a censorship-resistant way for users to interact with smart contracts. In the future, normal businesses will want to switch because the security model is better, and hosting costs will likely get cheaper (anyone in the world can be your storage provider).
Q4. Why didn't you choose to build on the Ethereum Virtual Machine and use its existing domain registry so that the domain owners have a reserved Unstoppable Domain with their EVM domain registration and vice versa?
Brad: .crypto domains were built on Ethereum so they do use the EVM. I think maybe you are referring to .eth? They are a separate registry on ethereum. The first product we launched was a registrar using .eth called Buyethdomains. We decided to build separate registries because we wanted to introduce new features like multi-currency, one time payments (no subscriptions), and a system where tx fees are paid for the user when they make domain updates. We also think that competition makes any industry better. It's better to have more than one wallet or exchange too.
Q5. Is it a plan to have the possibility to access the .crypto domain on every browser without any extension?
Brad: That is the goal. You can already do this on Opera for Android and more browsers coming soon. It is up to everyone to build great websites and drive user demand - this is what will ultimately win over browsers. They are paying attention to decentralized networks right now though. That and the increased security guarantees from blockchain domains.
Q6. Sending crypto with a domain is very easy, is there a plan to implement this method on an exchange like crypto.com?
Brad: Yes. We think this is a great use case. We are in active conversations with exchanges about this. There are additional challenges for making domains work well with exchanges like key rotation. We will have more to share on these solutions in the coming weeks.
Q7. Explain more about IPFS and Unstoppable Extensions. How secure is the extension and how can I build a censorship-resistant website using IPFS?
Brad: Unstoppable Domain names are stored on the blockchain making them resistant to takedowns on traditional DNS. IPFS is a p2p file storage network where users share files directly with each other without an intermediary like Amazon in the middle that can take down your content. By pointing a blockchain domain name to a website stored on IPFS you can build a much more censorship-resistant website.
Live Q1. What makes you able to work with Crypto.com. What are the benefits if we buy your domains using Crypto.com Pay rather than another payment method?
Brad: You get a 30% discount up to $15 for the next 7 days! Plus you get 10% CRO back.
Live Q2. Is there any expired date for a domain? How do you sure in the future my domain still works the same as today I made, any tracklist?
Brad: No expiry date! You own forever!
Live Q3. Can you explain to us what are really the benefits of blockchain domains into Decentralized Storage?
Brad: Censorship resistance. Amazon web services can take your website down, so can Godaddy. If you have a blockchain domain and decentralized storage, only you can take it down
Live Q4. How can I sell my domain? Can you explain how re-selling will work?
Brad: Just put it on Opensea.
Live Q5. So .crypto is not an ICANN tld is it? At 50USD per subdomain it seems pricy as it is just another namespace. Who benefits from supporting that namespace and how is it different from .eth or Handshake?
Brad: These are not subdomains. A .com costs around $13 per year so this is 3 years of a .com. It's cheaper over 5 years than a .com because it's $40 per time. Also, it's better!
Live Q6. What are the main differences between Unstoppable Domains and Ethereume name service?
Brad: We're are a profitable company building all of the tools to make a domain registry work along with the registry. I think they are more focused on trying to build an experimental example for how blockchain registries work and trying to get .com and other traditional registries to switch over. We are trying to build a fully functional new internet. We also made some changes to the registry like 1-time fees, which is better for the users.
Live Q7. Security and Privacy features should be the top priority for any organization. How Unstoppable Domain various methodologies to Validate the participant’s and also to protect the user data’s privacy?
Brad: The best way to protect user privacy is not to collect info in the first place. If you buy with crypto, we only collect an email address. In the near future, you will be able to checkout without an email address either
Live Q8. I have a business marketplace, can I use a domain to receive payments from buyers?
Brad: Yes! You can set any address to your domain and receive crypto in any currency
Live Q9. Can you talk about your team and how you started with Unstoppable Domains?
Brad: We started in January 2018, based in San Francisco. We wanted to build a censorship-resistant internet. Everyone talks about Dweb, no one is building so we decided to do it.
Live 10. You organized an AMA session very rewarding and received a lot of questions related to utilities and technology, future vision. So now I want to ask what do you want to receive from the community?
Brad: Please get the word out about blockchain domains! Try them for payments, build your own website (it's super easy on our site). We have templates for non-technical users.
Live 11. Are there some guidelines or standards that different wallets must adopt in order to support these domains like .crypto? In case the desirable domain name is unavailable, can one trade or bid for the same?
Brad: They need to read the blockchain in order to do a resolution. This is pretty easy and something they already do for other things. But it is a light integration they need to do
Live 12. Do Unstoppable Domains have support from the government or Start-Up in your country? What is the regulation on governing the Blockchain?
Brad: The US government has no opinion on blockchain assets that are NFTs. They are equal to collecting stamps. We did, however, get recognition from the department of financial services in New York so exchanges could store domains.
Live 13: How will Unstoppable Domains solve anything for censorship? And how is Unstoppable protecting user info and preventing censorship?
Brad: You can now launch websites that only you can put up or takedown. Unstoppable Domains cant take down your website or take back your domain. It's yours now. It works so long as the blockchain works
Live 14. What are the main challenges with blockchain domain names currently?
Brad: It's all a UX problem. Everything in crypto is. It's hard to sign a message with the same key from multiple apps. It's hard to use IPFS for storage, etc. We are trying to fix the UX problems so crypto just works
Arnold: Thank you very much for stopping by Brad. Unstoppable Domains is fascinating. Today’s Unstoppable Domain x Crypto.com Community AMA is done. We appreciate the folks who stayed all the way.
All questions that were addressed during the AMA will receive a free domain from the Unstoppable Domain team. Congratulations to all of the winners! Our Community Manager will reach out to the winners individually.
Brad: Thank you so much to the Crypto.com community for participating! We are excited about other future announcements and ways we can work together! Also, you have 7 days to use the 30% off offer. You get up to $15 off your first purchase at unstoppabledomains.com if you buy using Crypto.com Pay.
Arnold: Thanks again Brad for being a part of this great AMA for the Community. I really appreciate you coming out. Always a pleasure. Thank you for introducing this great offer for everyone. And I hope everyone enjoyed this AMA!