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The third generation of the internet (or Web3) is a new vision for the web. I recently wrote about the interconnected future of the knternet here if you want a refresher but here’s a quick overview: Web 1 was considered to be only text, Web 2 added 2D images and video. Web3 is the word internet scientists are using to describe a more interconnected internet of smart devices, the decentralized web and the future of the internet. If you need some assistance learning about the future of Web3, then this article is for you! Introducing – Web3 for dummies!
Are Web3 and the Metaverse the Same?
No. Though they are somewhat related. The term Metaverse refers to the perfect combination of hardware and software in our lives that blurs the line between digital reality and natural reality. This is often achieved through artificial reality, virtual reality, or the very rare mixed reality product or service.
The term Web 3 is used to describe the internet that is built on blockchain and crypto technology. Although many believe that the metaverse and web 3 come hand in hand, they are not the same thing.
For example, the popular metaverse decentraland is built using blockchain technology. However, Horizon worlds – the metaverse built by meta or Facebook, is built using the traditional internet of web 2.
Although VR is used in a handful of web 3 technologies, most of the time they do not interlap.
What is a Domain?
Before you learn about web 3 domains, you will need a quick crash course on how regular domains work. A domain, or a domain name, is not actually your website.
Website V.S. Domain Explained
Your domain name is not your website. Instead, most websites are just files that sit on a computer somewhere.
When you type a domain name into your phone or computer, you are asking to see the files of that website.
In the last 20 years, coding tools like browsers and development languages (HTML, CSS, and JavaScript) made it possible to show website files in artistic ways which we now call Web design and Web Development.
If you are interested in having a website built for you, check out my WordPress and Shopify Portfolio here!
What is a Web 3 Domain?
A Web 3 Domain is the domain name used to find a website that is hosted on a decentralized server.
Web3 domains can also be used to connect to decentralized applications (DApps) and smart contracts on Ethereum’s blockchain.
What is a decentralized server? Glad you asked.
On a regular website, the files are hosted on a different single computer. Usually, that computer (or server) is hosting hundreds of websites at a time and is owned by one corporation that sells its hosting services at a monthly rate.
Introducing Decentralized Hosting!
Decentralized networks work basically the same but the data is shared privately between a network of computers that run or validate the data through Blockchain technology.
Additionally, the cost of hosting is shared among a network of peers which helps to reduce the cost of server implementation.
What is ENS?
These networks are often named after the network they are validated on. For example, the Ethereum Naming Service is a blockchain domain name service run on the Ethereum Blockchain network. Hence the name, ENS.
Should I get a Web3 Domain?
For most people, the answer is no. Web 3 Domains are cool and catchy, but require special browsers or connection technologies to make them work.
For example, you can visit my Web3 domain at MetaverseMarketer.nft, but unless you have the right browser or web browsing tool, the page will time out.
Although some browsers like chrome support these technologies, they don’t do so by default. If you have these settings enabled, clicking on metaversemsrketer.nft should just redirect you to my website.
Why Aren’t Web3 domains popular?
The biggest reason why Web3 domains haven’t taken off is that despite being a better bang for the buck, they are generally slower to load site files, aren’t supported by major browsers like Safari, and they don’t add much extra to your domain name anyway.
Mostly what a Web3 domain does is shows other Web3 and cryptocurrency enthusiasts that you are in the same group of early adopters.
Is it cool to have a Web3 domain name? Absolutely. Is it useful? No.
Problems with Web3 domains:
In a lot of ways, Web3 domains have the same problems that the regular internet had in its early stages.
For example, do you remember how slow the early internet was? If not, it’s possible your phones mobile internet connection is 500x faster than early internet speeds.
What are the Benefits of Owning a Web 3 Domain?
Web 3 domains are a new type of domain name that is designed to be used in conjunction with the decentralized web. Regular domains on Web 2 have been centralized and hosted by a number of various companies like Godaddy or Google. Now, instead of having to rent server space or build your own server, you can share the lifetime hosting cost by building your website on Web 3 Domains instead.
The benefits of owning a web3 domain may not be obvious at first, because it’s more of an investment in future technology than anything else. But there are some benefits to owning a Web 3 Domain today.
- Using universal sign-on features in Web 3 helps your site stay more secure and private.
- Only require a one-time purchase on networks like Polygon.
- No Monthly Hosting or Annual Domain rental fees. You own your nft domain as long as you want to keep it.
An added benefit of owning A web 3 domain is it shows your audience that you are an investor in the future of the internet.
How to Get Your Own Web 3 Domain Name?
Web 3 is the next generation of the internet. This is a decentralized network that will not be controlled by a single entity or organization. It will be more secure, private, and reliable than the current internet.
Web 3 Domains can vary from
1) Register your domain through a trusted Web 3 registrar like Unstoppable Domains
2) Using your preferred cryptocurrency network, purchase a domain at any address (I used Polygon for cost-effectiveness).
3) Connect your newly purchased Web 3 Domain to your crypto wallet.
Can I Connect my Existing Website to a Web 3 Domain?
Yes and No. You can upload your HTML, CSS, and other static site files to your domain files. But you will need to make some structural adjustments before the actual site will appear on your domain.
If you use a service like WordPress, Shopify, or any other CMS, the answer is no. But if your not afraid to get your hands dirty and are familiar with the way your website is built in code, you can upload your website’s files to a Blockchain network like Ethereum or polygon.
Just make sure you follow the instructions carefully as there are a few important things to consider that will vary greatly depending on your website.
Conclusion: Should You Buy a Web3 Domain?
No. Web3 is a cool technology but it’s still very early technology. It’s not for those who want a quick solution or to be able to “figure it out in an afternoon.” Uoloading a redirect file that makes my NFT redirect to my website was a hassle to learn and it took ages.
I have an Ethereum sign-in wallet option connected to my site right now and it takes hours to connect to my Ethereum wallet.
I had the same problem when a friend of mine tried to buy an NFT from me using a polygon. It took almost an hour for his request to be received on my end and almost another hour to confirm the sale.
Will crypto be the future of the internet? It’s possible, but it has a long way to go and a very short attention span to compete against.
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Disclaimer: None of the information presented on this site constitutes legal, business, tax, or medical advice. In each scenario, it’s recommended to first chat with a medical, legal, business, or tax professional before making any decisions.
