Abstract
Over the past decade, blockchain technology has affected almost every industry globally, including finance, digital art, game, and even music and filmmaking. Blockchain technology is now changing the domains by presenting innovations such as the NFT domain.
Unstoppable domains and Ethereum Name Service or ENS are two NFT domain projects designed to innovate and change the domain market and have similar goals, but their approach differs. In this article, we first discuss the NFT domains and then compare the Unstoppable Domains with ENS and the benefits of both projects.
Introducing NFT Domains
The NFT domain is a new domain characterized by a token. These domains, also known as decentralized domains, crypto domains, or blockchain domains, have unique benefits not available on the web. First and foremost, the NFT domains are purchased once.
Unlike traditional domains with payment plans, users can buy this domain once and have it forever. Since the user is the valid owner of the domain, the provider cannot censor the domain or change the user. Despite being new and unique, this idea has gained tremendous popularity in the digital currency industry. Here are some unstoppable domains and ENS domain descriptions and their comparison.
Unstoppable Domains
Unstoppable domains are regenerating the power of the internet among people globally. Through this growing ovation, the project has designed the NFT domains that keep the data’s privacy and other advantages.
These domains are beyond a primary web address. An unstoppable is to use to transfer digital currencies and enter the decentralized web. Also, the internet users achieve a unified identity through the global username provided by these domains.
For instance, consider people’s usernames on social media stored on the blockchain as digital currency addresses and extensions of the personal site domains.
The domains on the Ethereum blockchain come with the “crypto” extension, and domains on the Zilliqa blockchain come with the “ZIL” extension. As a result, instead of “com” domains, domains will be “crypto” or “ZIL.”
One of the advantages of Unstoppable Domains is that the whole process is completed by only one purchase. With a single domain purchase, the user can hold the NFT domain forever and no longer need to pay. Unlike the traditional domains that users traditionally must rent, buyers of unstoppable domains own the service permanently.
In addition, Unstoppable domains users can connect to their cryptocurrency addresses. In this case, previously identified addresses will be easy to verify and do not need to keep addresses that are a set of random numbers and letters.
Ethereum Name Service or ENS
DAO or a decentralized independent organization manages Ethereum Name Service. Decentralized autonomous organizations do not have centralized leadership. An ENS token uses to improve DAO’s performance. The owners of this token can submit their suggestions and vote for DAO’s future development.
The ENS token is built on the Ethereum blockchain platform and enables users to trade them in most marketplaces. However, the ENS users mostly use the token to determine the future of the DAO. For example, every ENS token holder can vote on the Ethereum Name Service Rules and rules and instructions for DAO’s management. Each ENS token is a vote, and to approve a subject, 67 % of people must vote.
Comparison Between Unstoppable Domains and ENS
Both Unstoppable Domains and ENS provide an innovative method of buying a domain that does not have many traditional domain purchasing issues. Users buy from a decentralized network in both services, and their information remains private.
One of the most significant benefits of ENS is its democratic management approach. ENS owners can determine the future of DAO by voting. In addition, users who have 100,000 tokens can submit their suggestions to the governance society. As a result, the user community determines the DAO path, and users resolve the negligence of developers.
On the other hand, Unstoppable Domains make it easy for users to buy a domain and use it as a digital currency wallet. Therefore, the problem of the digital currency domain is also solved, and it is easier for new users to use. In addition, all the domains purchased at Unstoppable Domains are lifelong, and the result is that users don’t need to rent a domain anymore, and give them full authority to use the domain.
Conclusion
Both projects have advantages and innovations that do not exist in the traditional domain market. The only time will tell which project is a better option for Web 3 users. In the article above, we compared Unstoppable Domains with ENS and explored the benefits of each.