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Decentraweb Wants to Change the Domain Name Industry

2 min read

The internet as we know it today is a great technological breakthrough. It is an innovation which everyone of us is benefitting from, directly or indirectly. For instance, there is an abundance of information and entertainment at everyone’s disposal these days. But there’s more.

The internet has been leveraged upon to build many other projects. Most social media and gaming applications are built on the internet. With the aid of the internet, people are able to develop websites for their businesses and personal use. This process typically involves the use of existing domains and subdomains, or creating new ones. However, these are not done without some difficulties. 

The internet is a centralized system of networks and so is the domain name industry, to an extent. Given the centralized nature of the internet, the mega servers of the world are owned and controlled by few tech giants. It is virtually the same for domain names and their servers. This makes the whole system a calamity waiting to happen. Interestingly enough, this loophole has drawn the attention of DecentraWeb. But what exactly do they do?

Decentraweb in a Nutshell

Decentraweb is a blockchain startup with the objective of positively altering the functionality, access and control of the internet and Domain Name System (DNS) by helping people create their own Top Level Domains (TLDs) and own them permanently on the ethereum blockchain without having to obtain permission from anyone. Put in another way, it is a decentralized implementation of the DNS base layer protocol, and is committed to helping people take back the internet, one layer at a time. This innovation will be beneficial to individuals and businesses as they are looking at building a bridge between the crypto market and the traditional market.

The DecentraWeb team is made up of people with tonnes of experience in domains, DNS, security and the blockchain space. They have a team made up of people who were former workers with GoDaddy, Intel, Dow Jones, Microsoft, Dell, ServiceNow, Bloomberg, HP, Deloitte, TrustSwap, Coin Market Cap (CMC) and others. With these kinds of people working as a team, the domain name industry may not remain the same. 

The centralized nature of the Domain Name System keeps its control in the hands of a few organizations, usually big tech companies, who stand as gatekeepers of the entire industry. With so much power in their hands, they could potentially make decisions that adversely affect businesses either for political or financial reasons. But this doesn’t have to be. Decentraweb offers everyone the opportunity to  register their own top-level-domain (TLD) as an NFT and own it on the Ethereum blockchain. 

At this point, it is fair to note that most people have not started appreciating NFTs for what they really are. Some just see it as a piece of art and nothing more. Very obviously, Decentraweb seeks to become one of the few projects committed to creating an NFT with real value and utility. Owning TLD NFT allows you access to  email, hosting and domain registration all in one. Again, these NFTs can be bought and sold!

It is indeed a thing of beauty to note that the process of getting on board this train is very simple but what is perhaps more beautiful is that the service is affordable. The process is as simple as searching for any Top Level Domain (TLD) name and choosing your registration duration. Then payment is made either in ethereum or DWEB, which is the native coin on the Decentraweb ecosystem. 

After the payment, your TLD NFT is minted and transferred directly into your wallet which is in your full control. This offers a great deal of flexibility in method of payment. The cost could be as low as $50 per year when you are using the DWEB option and $100 when you pay via ethereum. From your TLD, you can cash out by selling subdomains.

Key Facts

  • Decentraweb has a team of highly experienced people who have worked in the DNS, security and blockchain space.
  • The innovation gives everyone the opportunity to own domains as an NFT which is tradeable.
  • The project is already cashflow positive as lots of TLDs have already been sold.
  • Decentraweb is multifaceted; having domain NFTs, DWEB token and multiple staking pools.
  • 80% of DWEB sales go back to stakers
  • The earlier action is taken, the better your chances of securing that special domain name you have in mind. 

On a closing note, Decentraweb seems to have a very clear roadmap of evolution which indicates that they are really looking into the future. So far, they have demonstrated admirable focus and it appears they’ll stay focused. The domain name industry has not seen many things like this before. 

Indeed, many may have believed that decentralization is the way to go but Decentraweb has taken their decentralization game in the direction of domain names. Join their Telegram group to learn how to benefit from this Innovation. 

Editorial Desk Editorial team Account! Bringing you entrepreneurial stories. Flourishive views the world through the eyes of entrepreneurship—ambition, ​empathy, the ​grind. Be inspired by articles curated by Flourishive Contributors.