Pros and Cons of Decentralized Domains
Despite the exceptional advantages, decentralization and the technology surrounding it has faced numerous threats and criticism. Microsoft's Digital Defense Report came with a typical rogue’s gallery of cyber threats. These threats include ransomware, phishing, supply-chain attacks, and blockchain domains.
The biggest threat in the future, according to Microsoft’s latest annual security report, the biggest threat in the future features domain names written into a distributed ledger. This is maintained across all the groups of computers and not stored in the traditional centralized registry.
Therefore, the storage of domain names on the blockchain might result in difficulties in shutting down and the inability to trace their owners. Moreover, it makes them difficult to access without the special software and settings.
Blockchain and cryptocurrency are not alien topics anymore. Both are on their way to becoming mainstream technologies worldwide. Undoubtedly, the idea of decentralization is the heart of the whole blockchain technology, but it doesn't mean that it comes with any cons or disadvantages.
This highly informative article will discuss the pros and cons of decentralized domains.
What are Unstoppable Domains?
Before we get to the discussion of the pros and cons of decentralized domains, it is necessary to discuss unstoppable domains. You must know what they are and their advantages and disadvantages as well. Unstoppable domains can also be referred to as blockchain domains as they utilize blockchain technology to handle the registration process and many other features.
Released in 2018, unstoppable domains have grown quite much both in popularity and in success rate. Since their introduction, they have become quite popular in the cryptocurrency community. The main reason why crypto traders prefer using unstoppable domains is that they allow you to send various types of cryptocurrencies using human-friendly addresses instead of the typical string of numbers and letters.
Unstoppable domains are also getting famous for hosting regular websites and applications. Undoubtedly, there are numerous benefits of unstoppable domains, but its drawbacks cannot be denied either. Let's discuss their advantages and disadvantages for better insight into unstoppable domains.
Advantages of Unstoppable Domains
Below mentioned are some advantages of unstoppable domains.
- One-time Registration: You only must spend your money once with an unstoppable domain. You will not have to pay any yearly renewable fee at all.
- Highly Secure: Unstoppable domains use blockchain technology, highly recognized as extraordinarily secure and resistant to brute force attacks.
- Censorship – Resistant: The traditional censorship methods of government and companies are useless in these domains. Therefore, these domains cannot be blocked or taken offline.
- Easier Cryptocurrency Usage: The blockchain domains are explicitly designed to provide the most convenient and best cryptocurrency trading. With the help of these domains, you can send or receive 276 different types of cryptocurrencies by using your domain name.
- Native Support of Decentralized Apps: These domains support the native decentralized apps. This makes them more convenient to use.
Disadvantages of Unstoppable Domains
Now is the time to discuss the disadvantages of unstoppable domains.
- Universal Adoption Nearly Unreachable: Unstoppable domains are new and are only popular among the cryptocurrency community. A great chance is that this might never spread outside of this community.
- Not supported by all Native Browsers: These domains are only supported natively by popular webs like Opera and Brave. While for Edge, Chrome, and Firefox, you must have an add-on to access them. This might change in the coming future.
- Labeled as Only for Cryptocurrency: Most people know these domains as the ones explicitly limited to cryptocurrency.
What are the Problems with Centralized Domains or Centralization?
We cannot argue that the internet is much more centralized than it was ten years ago. Only a tiny number of monolithic corporations are controlling the disproportionate number of whatever activities are happening online. These activities include your actions and data records as well.
Social media platforms such as Twitter and even the tech giants like Google are always the center of various privacy scandals and accusations of unethical behavior. But no matter how big or severe the scandals and accusations get; this doesn't stop them from prioritizing their profit margins over the user experience.
It is safe to say that the present internet is not based on user experience but is a money-making machine for a handful of companies. As a result, independent users and content creators bear a significant power loss and have a less enjoyable time online that is strictly dominated by ads to benefit particular companies. Most of these problems can be solved by decentralization, but how?
Pros of Decentralized Domains
Here are the advantages of a decentralized system.
How Decentralization ensures a Better Future?
Decentralization has various pros; we will discuss most of them under this heading. One of the significant advantages that it has to offer might be better data portability. In simpler words, we can explain it as data usage in various contexts and scenarios with a surety that it is the same data. In a decentralized economy, you are the owner of your data and are sure of it.
This is not the case right now as we are not the owner of our data, but it is the platforms and companies. This is what offends the content creators the most. They lose control over their original content and work and surrender to the centralized companies hosting their content.
While in this case, a decentralized domain system is nothing like a centralized one. The creators and independent users have more power over their content and data, more control, better revenue channels, and better money. Various social networks are introduced that enable you to use your username. This provides online autonomy and freedom to all users and content creators.
Is Decentralization adoption near?
We all know such significant changes do not happen overnight and happen eventually. It will take time to build the pieces of the decentralized internet and perceptions to change from centralization to decentralization. Being independent users, our job is to be aware of everything and learn as much as possible.
Take your time to learn about the pros and cons of decentralization and start using decentralized apps and software. You can consider going to ‘Unstoppable Domains', where you can get your domain name and can even launch your decentralized applications.
Cons of Decentralized Domains
Even though the freedom that comes with decentralization is very intriguing and attractive, the challenges that it comes with cannot be denied. One major con of decentralized domains is that once independent users like ourselves own our data and activity, people might start misusing the freedom. This freedom is not provided at present, as seen in the models of Facebook and Twitter. With total freedom, people will try to harm other people online.
Let’s take it this way. Once the people are not bound to the online rules and regulations, nothing will stop them from spreading hatred and misinformation online. As there will be no fears of getting banned, they will misuse the authority and control, leading to significant misuse and spreading hate. Are you wondering how you can control violence and potentially harmful activity in a truly decentralized system?
What are the Solutions to Prevent Harmful Activity in Decentralization?
It might look a little absurd, but the problems arising from decentralization only decentralization solves. For instance, the inherent transparency of the blockchain system enables you to verify false information and check if the person is the person they are claiming to be. This is done by linking everything back to the existing social media accounts and other verified online profiles.
All the users will be free to block the information they do not want to see. The whole responsibility will be on the users. They will have to decide what they want to see and what they don't want to see. Moreover, this won't happen overnight. There will be years of adapting and multiple roadblocks in the way of a successful decentralized system.
We can only make it easier by keeping ourselves updated on the technology and taking up all the challenges. Our responsibilities will include new ideas and solutions and educating others about the technology. If we see the pros and cons of decentralization in the long term, the pros will surely outweigh the cons by a good margin.
Final Thoughts
We cannot ignore the advantages of decentralization, but we cannot let go of the disadvantages. If we want to use the freedom of decentralization, we will have to monitor and limit the users so that there is no hate or violence online. Therefore, it is necessary to keep in mind the solutions mentioned above before promoting decentralized domains.
Until now, only cryptocurrency traders have been benefiting from these domains, but we all must know that they are not only limited to them. Using it correctly with the right goals and authorities can benefit it.
Next Steps
If you or your company would like to know how to apply these and other blockchain concepts to your business do not hesitate to reach out to us at info@nebulai.com
If you are interested in learning more about our offering please go to:
https://netcapital.com/companies/nebulai
About Nebulai Corp Nebulai Corporation is a Miami-based Web3 company that is developing a Decentralized Solutions & Talent Marketplace which will allow companies, talent, solution providers, and investors to commerce on a Web and Mobile platform.
