Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.

Crypto domain name: Understanding .eth, .crypto and .sol

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What is a crypto domain name?

A Crypto domain name, or Blockchain domain name, is a solution that makes it possible to simplify interactions in the world of cryptocurrencies and web3 . It transforms complex cryptographic addresses (e.g. 0x4b20993bc481177ecdcd9… ") into simple and memorable identifiers, such as“ monportefeuille.eth ”or“ charity.crypto ”.

These domain names play a central role in decentralized finance, simplifying transactions, facilitating decentralized accommodation and offering a new way of managing its digital identity.

Table of contents

Blockchain domain names operation

Decentralized and immutable management

Unlike traditional domain names (.com, .fr), managed by centralized authorities such as ICANN (Internet Corporation for Assigned Names and Numbers), Crypto domain names are based on decentralized blockchains. These blockchains guarantee security, immutability and total property.

What does it mean to record a domain name on the blockchain?

Recording a Crypto domain name involves registering it in a blockchain, via a smart contract . This inscription contains:

  • The owner : The portfolio address holding the domain (often represented as an NFT).
  • Metadata : redirection information, such as an IPFS identifier (Interplanetary File System) pointing to content or a decentralized site.
  • Actions history : Each modification or transfer is recorded, horoded and publicly accessible.

Blockchains, initially designed to record financial transactions, evolve to store complex data thanks to smart contract. These data are immutable and accessible at any time, unlike centralized DNS registers.

Differences in Crypto domain names with classic domain names

Centralized management: the case of traditional fields

Traditional domain names, such as .com or .fr, are administered via the Domain Name System (DNS).

  • Temporary property: The user rents the estate for a limited period (1 to 10 years).
  • Compulsory renewal: if the subscription is not renewed, the area can be recovered or bought by a third party.
  • Risk of censorship: the authorities can suspend an area for various reasons.

Decentralized management: Blockchain domain names

With Crypto domain names:

  • Real property: The user has the field in the form of NFT.
  • Total transparency: information is accessible on the blockchain.
  • Immunity to censorship: no third party can suspend or revoke a blockchain domain.

The main Crypto domain name platforms

1. Ethereum Name Service (ENS)

  • Extension: .eth
  • Blockchain: Ethereum
  • Ethereum addresses and fluid integration with decentralized applications ( dApp S ) such as Uniswap and Opensea. The ENS domains are particularly popular in the Ethereum due to the robustness of this blockchain and its large adoption.
  • Particularity: the .TH domains require annual renewal costs, calculated according to the length of the name. For example, an area of ​​5 characters or more costs around $ 5 per year (excluding Gas costs).

2. Unstoppable Domains

  • Extensions: .crypto, .Wallet, .x, .nft, .Blockchain, etc.
  • Blockchain: Polygon (a Layer 2 Sur Ethereumsolution)
  • Main use: Multi-blockchains compatibility, making it possible to simplify payments on different blockchains while offering the possibility of hosting content via IPFS.
  • Particularity: these areas are sold with a single payment, without renewal costs, making it an ideal solution for those looking for simple and life management. They also allow you to receive funds on several blockchains like Ethereum , Solana or Bitcoin.

3. Solana Name Service (SNS)

  • Extension :.Sol
  • Blockchain: Solana
  • Main use: Simplification of transactions and interactions in the rapid and evolving ecosystem of Solana. Very popular with active users on this blockchain, these areas can be used to identify portfolios or projects deployed on Solana.
  • Particularity: a unique purchase guarantees property of the area for life, without renewal costs.

4. BTC.us

  • Extension : .btc
  • Blockchain: Stacks (Un Layer 2 de Bitcoin)
  • Main use: Domains. btc facilitate Bitcoin payments while connecting to Lightning Network for fast and inexpensive transactions. They are particularly suitable for merchants and users who accept Bitcoin as a means of payment.
  • Particularity: domains.btc are available for a fixed period of 5 years against a payment of 2 STX (native token of stacks), after which a renewal is necessary.

Other major platforms to buy a Crypto domain name

Apart from the four platforms mentioned, many other solutions exist, each adapted to blockchains or specific needs:

  • Space ID : offers extensions like. bnb , .arb, and others for the Binance Smart Chain and Arbitrum . Mainly targeted to simplify interactions on these networks.
  • Bonfida : an alternative to SNS for Solana , offering similar features, but with often lower costs.
  • Polygon Name Service (PNS) : dedicated to users of the Polygon , these areas are designed to integrate into the dApp of this expanding network.
  • Name service base (BNS) : specific to the base blockchain (incubated by Coinbase ), with extensions like .Base, which target users of this Layer 2 network.
  • Starknet Name Service (SNS) : Allows the purchase of .Stark domains for those who interact with the StarkNet , specialized in highly scalable decentralized applications.
  • Tron Name Service (TNS) : offers areas .TRX for active users in the TRON ecosystem.

How to buy a crypto domain name step by step

Buying a crypto domain name, like .eth, .crypto, .sol or .x, is relatively simple thanks to specialized platforms. Here are the steps to follow:

  1. Choose a suitable platform:
  • Identify the platform corresponding to the extension you want, for example:
  • Prepare a crypto wallet:

Download a portfolio that supports the blockchain associated with the desired domain name. For example, Exodus is an excellent option, because it takes care of many blockchains, which avoids multiplying different portfolios. Otherwise, you can use Metamask for Ethereum and the compatible and Phantom EVM channels for Solana for example. Place the cryptocurrency necessary for the purchase. For example :

      • Eth for Ens.
      • Floor for SNS.
      • USDC or MATIC for UNSTOPPIGHT DOMAINS.
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  1. Search for an available name:
    • Connect your wallet to the platform.
    • Enter the name you want to buy in the search bar.
    • Check its availability. If the name is already taken, the platform will often offer alternatives or means to contact the owner to negotiate a buyout.
  2. Configure the purchase:
    • Choose the recording time for platforms with renewal (like ENS). For example, a .eth name can be recorded for a period of 1 to 10 years.
    • On Unstoppable Domains or SNS, payment is unique, without renewal.
  3. Pay and confirm:
    • Validate the transaction via your crypto wallet. You will also have to pay network fees (called Gas costs ) on certain blockchains like Ethereum .
    • Wait until the transaction is validated on the blockchain. This can take from a few seconds to several minutes, depending on the congestion of the network.
  4. Manage your domain:
    • Once purchased, your domain name is visible in your Crypto portfolio in the form of a NFT.
    • Configure it to associate your portfolio address, a decentralized website (via IPFS), or information related to your web3 identity.

Practical example:

If you want to buy monentreprise.eth:

  1. Prepare 0.03 ETH (approximately $ 5 for 1 year of registration + Gas fees).
  2. Connect your exodus wallet to ENS
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Crypto domain name
  1. Look for "monentreprise.eth".
  2. Configure the recording period.
Crypto domain name

3. Validate the transaction in Exodus.

4. The domain is now yours and linked to your Ethereumaddress.

  • Resistance to censorship

The Domaine Blockchain names, combined with IPFS, guarantee decentralized and incensurable accommodation.

  1. Final property and total control

Certain areas, such as those of Unstoppable Domains, are acquired for life, offering total freedom and resistance to external interventions.

The challenges and limits of Crypto domain names

Although Domaine Blockchain names offer many advantages, they are not free from challenges and limitations. It is important to be aware of it before engaging in this technology.

  1. Compatibility limited with the traditional web

Blockchain domain names are not directly accessible via traditional web browsers such as Google Chrome or Safari. Unless you use specific extensions or compatible as brave browsers, these areas will not work like traditional fields.

  1. Absence of centralized regulation

The absence of a central entity, although a force for decentralization, can be a brake in the event of disputes or cybersquatting. Unlike the procedures established for conventional domain names, such as the UDRP for disputes, there is no universal mechanism to manage conflicts linked to Domain Blockchain names.

  1. Adoption still limited

Despite their rapid growth, these areas are still mainly adopted by web3 and crypto players. For consumer use, especially in companies outside the crypto ecosystem, Blockchain domain names must still prove their value.

  1. Cost of transactions

For certain platforms, such as ENS, the costs of Gas sur Ethereum can be prohibitive, especially during periods of high network activity. This makes the acquisition or renewal of an area sometimes expensive.

Future prospects for Crypto domain names

Blockchain domain names are part of a broader vision of the web3: a decentralized, secure and autonomous internet. Here are the key trends for their development:

  1. Increased interoperability

As blockchains develop bridges together, domain names could evolve to be even more interoperable. For example, a .crypto domain could be used for interactions on blockchains like Aptos, Base or Avalanche.

  1. Best integration with the traditional web

Initiatives are underway to make the Domain Blockchain names compatible with the DNS, allowing a wider adoption. These efforts could reduce dependence on specific browsers and extensions.

  1. Extended use case

Beyond crypto payments, Blockchain domain names could become universal identifiers to access digital services, manage online identities or even participate in decentralized governance systems.

  1. Institutional adoption

Companies and institutions are starting to explore the use of Blockchain domain names for specific use cases, such as cryptocurrency donations or the creation of decentralized hubs for their communities.

Practical tips for choosing and managing a Crypto domain name

  1. Evaluate your needs: Determine if you need a domain compatible with a specific or multi-network blockchain.
  2. Favor recognized platforms: Choose platforms like ENS or UNSTOPPIGHT DOMAINS to guarantee the safety and reliability of your field.
  3. Anticipate the costs: if you opt for a .eth field, take into account the renewal costs and the Gas costs. For a .crypto domain, make sure that the initial cost meets your expectations.
  4. Use compatible tools: make sure your browsers and wallets are configured to use these areas.

Conclusion on Crypto domain names

In conclusion, Crypto domain names are not only a technological innovation, but also an opportunity to reinvent the management of digital identities and online interactions. By exploring this area, you participate in building the future of the web3.

Investments in cryptocurrencies are risky. Crypternon could not be held responsible, directly or indirectly, for any damage or loss caused following the use of a property or service put forward in this article. Investments linked to cryptocurrencies are risky by nature, readers must do their own research before undertaking any action and investing only within the limits of their financial capacities. Past performance does not guarantee future results. This article does not constitute an investment .

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Yohan Uzzan image

Yohan Uzzan

Training engineer, I quickly became interested in the field of finance. Convinced that decentralized finance has a bright future ahead of it, I participate in its democratization by developing Crypternon.