W3DNA Review: What web3 domains are and how to take advantage of them

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NFT
W3DNA Review: What web3 domains are and how to take advantage of them

Web3 domains are the blockchain equivalent of DNS addresses. With its qualities and use case, Web3 domains are taking the traditional domain sector to the next level. NFT domain services like W3DNA are reinventing the industry by introducing Web3 domains without extensions.

W3DNA redefining Web3 Domains

The internet has been crucial to human and technological advancement since its invention. It has shaped our world as we know it, with visible improvements recorded in every sector since its creation in the early 90s.

Like all industries, the Internet industry is poised to undergo the next paradigm shift to the next age. The sector is currently in its second iteration dubbed Web2, having succeeded the first age known as Web 1.0 since the early 2000s. Therefore, the current iteration of the internet is due for a change into a more modern and decentralized version.

Web 2.0 relies on dynamic and user-generated content Web with interactive resources represented over a network by internet protocol (IP) addresses or simply domains. Ideally, in Web 2, the website owner has administrative autonomy, authority, or control over the IP address.

However, this is far from what happens, as domain owners have limited authority or control over their domains due to a long-standing issue in Web 2 — centralization.

In reality, only a handful of central entities control the internet system, causing users and domain owners to suffer from bottlenecks like personalized advertising, data censorship, privacy violations, and more.

This has triggered the need for the next internet framework, one whose core quality is decentralization and ease of use, hence Web3.

Web3 is a relatively new idea to the world. Still, many innovative platforms like Ethereum, Solana, and W3DNA are already building the future of the internet by developing cutting-edge infrastructures powered by blockchain technology to enhance the adoption of Web3 domain services and more.

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Web3 domains are fully decentralized non-fungible token (NFT) domains, giving owners authority and control of their domain names while also laying a foundation for a secure, private, and censorship-free internet.

Web3 domain addresses also possess new and exciting features with the potential to transform the internet space. We will examine what a typical Web3 domain service entails and how W3DNA is perfectly positioned to be a major player in the industry.

Web3 Domains Demystified 

For the uninitiated, Web3 domain names are blockchain-based DNS addresses allowing users to create and manage domains. They are in fact user wallets that can be utilized as blockchain domain names. Anyone can access the decentralized technology by registering a Web3 domain name.

Web3 offers a more secure and private manner of content uploading and browsing. Users can host decentralized websites on a decentralized network of computers using a Web3 domain name, making it more secure from hackers.

Web3 domains are gaining global adoption at a blistering pace. Many even see them as the future of the internet. There are many Web3 domain naming solutions currently. Each of them offers users a Web3 experience at the level of 2018. W3DNA is building an innovative domain service with unique qualities offering truly decentralized NFT domains with no top-level domains (extensions), registered in any spoken language, symbol or emoji in three blockchains simultaneously. In a nutshell, W3DNA multi-chain naming protocol converts machine-readable addresses to human-readable names that owners fully own and control. W3DNA domain is by top level domain by itself.

Even more W3DNA domain names can be used for website hosting and building directly into the blockchain receiving crypto payments and much more.

How W3DNA Domains Work

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Most domain names have extensions, for example, Jane.eth, Mike.sol, and so on, but W3DNA is reinventing NFT domain names by removing extensions. Now users can have domain names as simply their names or any words they want. For example, instead of Jane.eth or Mike.sol, with W3DNA the domain will look as simply Jane or Mike. Users’ W3DNA domain names can be registered in any language and symbol without extension or length limits because W3DNA domains function independently of hosting and regulatory bodies like Internet Corporation for Assigned Names and Numbers (ICANN).

In addition, since W3DNA domains are multi-chain, you can use one Web3 account to store all your addresses and accept payments in any cryptocurrency and chain.

With W3DNA, all users need to get started is to install the W3DNA browser and add an extension to their browsers.

Advantages of Using W3DNA Domain

With W3DNA, users can create domain names without extensions. So, users are free to create their names. W3DNA approach is enhancing simplicity, transparency and mass adoption providing all opportunities to save time, effort and money.

In addition, users can register their domain names in any language or symbol to make them more unique. There is no limit to how long a domain name should be in W3DNA. You can register your NFT domain with as many letters as possible.

Unlike most domain names that are built on one chain, the W3DNA domain service is a multi-chain. Domains are interoperable with Polygon, BSC, and ETH blockchains and receive cryptocurrency on any blockchain.

Since W3DNA domains are stored on the blockchain, they are more decentralized and secure. Domains cannot be tampered with or taken down by anyone, making them perfect for hosting censorship-resistant information. 

As the internet moves towards a more decentralized model, W3DNA domain names will increase in demand for adoption, making the early minted NFT domains much more valuable on the open market. They are decentralized and offer owners absolute control not only over the domain itself but also over the info uploaded their along with access to it.

How to Earn with W3DNA Domains

Web3 domain names are the new trend in the crypto industry these days. Historically, once the Web 2 domain names came out, lots of people bought these names for cheap and sold for more profit in the future. Now the users know this same path well enough, buying unique domain names for as low as $15 and reselling them for much higher later.

Since the rise of Web3 domains, communities have witnessed sales of ENS or Unstoppable domain names in which domain owners have made astonishing gains. For example, in September, pjfi.eth domain was bought for 0.12 ETH and sold for 350 ETH. So far, the most expensive ENS domain is “paradigm.eth,” which sold for $2 million last year. And this is not the ownership but the traditional renting model. Imagine the investment value for the domains that are bought once and forever.

As per ENS Domains data, registrations climbed 57% in September from 301,000 the previous month. Since May, the number of ENS domain names registered has more than doubled to 2.6 million. This means that the price of domains is growing, as the demand and mass adoption grow and early W3DNA customers can take advantage of it.

Conclusion

Despite the crippling bear markets and the unfortunate events in the crypto space in recent weeks, the long-term potential of Web3 remains quite solid. With its multi-chain support, flexible domain names, affordable pricing, and complete decentralization, W3DNA seems to be ready to redefine the world of Web3 domain names currently dominated by heavy hitters like Ethereum, Solana, and a few others.

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Ogwu Osaemezu Emmanuel

Ogwu Osaemezu Emmanuel is a graduate of Mass Communication and Media Studies. He joined the blockchain movement in 2016 when a friend of his introduced him to an investment platform accepting bitcoin. He has never looked back since then. Emmanuel believes the world needs real change and freedom from poverty. He sees crypto and the underlying distributed ledger technology as the catalyst to a better future for all.