Useful Info.
What is a Crypto domain?
Very simple: Web01 gave birth to the first domains ".com" (.gov, .org, etc ) which expanded along the Web02 era. The most expensive Web02 domain reported was Voice.com for $30 million. But now Web03 brought ".crypto" domains (eth, .zilliqa, etc) and not many people are aware of them. It is superior tech, so they are far beyond the .com.
A ".crypto" domain belongs to the Web 3.0 generation which is known as the Internet of value. Since the web has been built among layers, it's worth remembering that to understand it better.
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The Web 1.0 was the first generation of the Web, a "read-only" version with protocols such as HTTP, open standard markup languages such as HTML and XML, the first Web browsers, etc.
Web 2.0. it's the second generation of Internet with social networking sites, a "read-write" version with communication tools, mobile Internet and mobile devices (including camera phones) as a major new platform driving the adoption and growth of the Web, particularly outside of the United States.
Web 3.0. it's the third generation of Internet known as the ‘the intelligent Web’ or 'interactive Web' and it will find, understand, and create content by "meaning" using semantic web, microformats, natural language search, data-mining, machine learning, recommendation agents, Blockchain, and artificial intelligence technologies. Currently the centralized Web2 already interacts with the Web3 decentralized one.
For that reason, a crypto domain is a blockchain domain which has a double functionality:
1) Provides you an address to send or receive tokens in your crypto wallet (eg tokens: Bitcoin, Ethereum, NFT's of course, etc). Therefore, it is similar to your email address but instead of receiving emails to your "John.crypto" you will receive your crypto tokens in your wallet. In the future, you'll get emails too, but currently not. And 2) Provides the functionality to setup a Website and keep its property in your wallet.
This type of websites are hosted in the decentralized Web, or Web3, and can't be put down by any entity or government. Take your time and visit this example of one that I launched with my Nftdesign.crypto address; you won't notice the difference but it is different. Currently, we are used to the Web2 which is based on servers that are centralized, and can easily be “unplugged” by governments. One main advantage of a blockchain domain relies on its capacity of publishing content online over the Web3 which is already up and running (and constantly being developed). Another advantage of a blockchain domain is that it relies on this new technology which will bring a superior performance for the other technology associated with the 4th industrial revolutions tech such as Augmented reality, Virtual reality, and because of its trust and security, it will facilitate new financial services. As we can realize, the Internet as we know it, will improve dramatically with this new layer brought by the Web3.
The decentralized Web3, runs in “nodes” and its constantly developing. If you decide to run one of these nodes you can download a software and collaborate with it.
What is a token?
Here we are talking about crypto tokens such as Bitcoin and Ethereum because Non Fungible Tokens (NFT's) are relatives of this same family. If you want to learn more, there are plenty of sources of information. Since a token has a digital signature, it becomes something “real” and suitable for property. That verification capacity didn't exist for digital products before blockchain technology. Before blockchain, any digital product could just be downloaded by anyone, and then property was lost forever for its owners. Millions of copies were equal to the original. Now with this technology, transactions are secured by cryptography, so a token of this kind is also stored in a Crypto Wallet with a private key that only the owner knows.
This capacity of ownership without the need of a mediating institution is having deep implications on key aspects of our society. The first one is finance, and that is the reason why the development and growth of the crypto industry, just keep in mind the famous Bitcoin use case. The other applications are spreading around supply chain health, ID, documentation, etc. In art the consequence is being the capacity to bring real world art to the digital World via creating tokens of it. For instance, we could tokenize a Picasso real Paint and divide it into as many little pieces we want and then sell those pieces of the Picasso painting. Then the owners of the painting will together own the painting and could claim it. However, this is not the only possibility. The other one is that digital art is becoming unique. That because now a digital art piece can be tokenized and set apart as an "original" exactly as we've been doing with digital signatures for the past years. The value added is that the originality of the item facilitates its storage, insurance, traceability, and compostability. About compostability I will just ask you to imagine that you could deposit your token in a bank account and gain interests for doing that! That is exactly what is happening right now. Of course, first you have to know what you're doing to avoid painful mistakes.
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