Since the advent of the internet, we have seen all kinds of projects get built on it. In terms of building these projects, there has been a need for registration and ownership of domain as well as subdomain names. Interestingly enough, the process of registering and owning a domain may not exactly be as simple as it seems as there are lots of regulations and bureaucratic protocols around it.
Here’s the full story. The internet is one big centralized system where just a few big tech companies control a staggering majority of the world’s cloud compute and storage. Needless to say, there is no telling what impact this dominance and control will have on internet users if it is leveraged negatively. But then, some innovative minds understand this perfectly and that is why we have many startups trying to make a difference in the internet and web technology space. One of these projects which quickly comes to mind is Decentraweb. As they say, the idea is to help people take back the internet, one layer at a time. For the sake of brevity and clarity, here are the most important facts.
We know there’s a lot of noise out there and it can be very difficult to spot a worthwhile project in the blockchain space. And even when good ones are spotted, it can be uninspiring to read several pages of content about them. That is why we share the basics you need to know about Decentraweb in a concise manner so you can easily get involved without delays.
About
Decentraweb is a tech startup that aims to bring transformation to the internet and Domain Name System (DNS) by making it possible for people to create and own their own Top Level Domain (TLD) on the ethereum blockchain without having to obtain permission from anyone. Put in simpler terms, you can now own domains as NFTs which are tradeable on OpenSea or any other NFT market. The technology can be used by businesses, corporations, individuals as well as stakes.
Goals
The team at Decentraweb has a clearly defined roadmap for their project. They are creating a full ecosystem that will offer email, hosting, token, and domain registration services all in one place. This path has been clearly defined and so far, they have remained on it without deviation.
Usability
Another interesting fact about Decentraweb is its ease of use. Registering a TLD on Decentraweb is so easy that even crypto beginners can do it without a hitch. As soon as you’re on the platform, the first thing to do is to search for a domain and choose your registration duration. The next step would be to make payments. You will get a 50% discount if you pay through DWEB which is Decentraweb’s native token. After that, your TLD NFT is minted and transferred directly to your wallet.
Token
DWEB is the native token of the DecentraWeb ecosystem. It is the medium of payment for products, services, governance, DNS Validator Nodes, staking, and more. However, payments for TLD registration are also accepted in ethereum, thus making payment very flexible. Very obviously, Decentraweb is a multi-faceted project as it features domain NFTs, DWEB tokens, and multiple staking pools. Talking about staking, 80% of DWEB sales go back to stakers.
Pricing
Registering your TLD or subdomain on the ethereum blockchain with Decentraweb costs $50 per year using DWEB tokens or $100 per year using ethereum. Your registered TLD at this rate will be active for a maximum of five (5) years. Owning a domain and an NFT in one digital asset is probably a phenomenon many people never imagined but here it is with us. Another benefit here is that owners of domains can afford to sell subdomains, thereby generating extra income for themselves
Team
The people who are working together to bring Decentraweb’s goals to life are people who have gathered tonnes of experience working in the domain, security, and blockchain space. The team includes industry veterans from GoDaddy, Intel, Dow Jones, Microsoft, Dell, ServiceNow, Bloomberg, HP, Deloitte, TrustSwap, CoinMarketCap (CMC), and others.
Conclusion
Innovations occur when people challenge the status quo and push beyond boundaries. This is what Decentraweb is ambitiously doing. The project is already cash flow positive as many TLDs have been sold out. Whether or not you will come on board is your decision to make. But if you must act, as every early adopter would, it is wise to act now. You can start by joining their Telegram group where most of the action happens.
