Have you ever wondered what is the difference between traditional domain names and web3 domains? If so, you’re in the right place.
Traditional domains (DNS)
Traditional domain names, also known as DNS (Domain Name System) domains, are what we use to access websites on the internet.
You know how you type in twitter.com or wikipedia.org into your web browser to visit those sites?
Well, DNS domains are the human-readable names that make it easy for us to remember where to find websites. They’re shortcuts for the IP addresses of servers that host websites.
Web3 domains
On the other hand, web3 domains are used in the world of cryptocurrency and blockchain. They are not shortcuts for IP addresses, but for crypto addresses.
You know how a typical crypto address looks like a bunch of random characters, like 0xb29050965a5ac70ab487aa47546cdcbc97dae45d?
Yeah, it’s pretty much impossible to remember one of those.
That’s where web3 domains come in handy. They provide a human-readable alternative to those long and complicated crypto addresses.
So instead of sending tokens to a crypto address, you can just send them to a web3 domain (e.g. techie.sgb). Your wallet will automatically look up the address that owns the web3 domain and send the tokens there.
More than just shortcuts. Usernames 🤯
But web3 domains are more than just shortcuts for crypto addresses.
They also serve as usernames in the web3 world. As more and more web3 social platforms pop up, web3 domains will allow us to have a consistent username across all of them.
Web3 domains also give you a sense of ownership and security that traditional domain names don’t offer.
You might be wondering if this is really that important. Let me tell you a story that illustrates why it is.
You don’t own your username on Facebook or Instagram
When Facebook changed its name to Meta, they wanted to own the “meta” username on Instagram. But it was already taken by a small company.
So what did Facebook do? They just took the username from that small company without any notice or compensation. They didn’t even say sorry.
Imagine you have a business that relies on a platform like Instagram. Maybe you sell a product and your only way of marketing it is through Instagram. And then, suddenly, your profile is taken away from you. Your livelihood could be at risk overnight.
That’s why it’s important to have a sense of ownership and security when it comes to your online identity. And web3 domains give you just that.
Truly own your online identity
With web3 domains, individuals have the ability to truly own their online identity and do not have to worry about it being taken away from them.
So to sum it up, traditional DNS domains are used to access websites on the internet, while web3 domains are used as shortcuts for crypto addresses and as usernames on web3.
Both types of domains make it easier for us to remember where to find things online, but web3 domains also give us the ability to own our online identity.
Cool, right? 🤘😎