Mike Ward wrote a very interesting piece on Coin Telegraph with regards to the Blockchain and domain names. Ward takes a look at how the DNS can run on a decentralized platform, he talks about the flexibility this would provide and how it would create greater freedom, reduce costs and provide less exposure to risk.
I thought the most interesting part of his article was talking about how some see domains as becoming obsolete. He points out, “Despite the claims from many that a perfect storm of factors is making domain names obsolete, the indicators suggest otherwise. The naysayers cite the prominence of mobile apps, and the convenience of things like Facebook pages, Etsy stores and more. But after basically stagnating since the late 1990s, the Domain Name System is about to undergo big changes. Stick around, DNS is not done.”
From the article:
The current system is hierarchical in nature, both technically and politically. Technically, this system’s root servers (think central database) represent a high-value attack vector, and a single point of failure that could by itself take down large chunks of the Internet with a single incident, as threatened by Anonymous in 2012.
Politically, the decision-making power is concentrated within the governing body making the rules of operation and letting the contracts. This represents a source of significant risk in terms of potential for corruption, and is susceptible to coercion by those entities with great power.
The term “blockchain” refers to the underlying technology that powers Bitcoin, a distributed data store that achieves a state of consensus. Every node on the network will agree about the historical facts, with minimal reliance on trusting central authorities.
The Domain Name System (DNS) is used every time you interact with resources on the Internet. This system allows us to turn easy-to-remember names such as “CoinTelegraph.com” into useful IP addresses such as “141.101.125.184”. Your computer needs the latter, but you can more easily remember the former. DNS provides this mapping function between names and addresses, much as a phone directory lets us look up a person’s phone number, given their name.
Read the full article on Coin Telegraph
Hmm a little late on the corruption & coercion issue!
Interesting. thanks for sharing.
Interesting
Hello Ray,
If anyone thinks for one moment that the most powerfull CADRE of Global Legacy .COM Platform Extension Holders will allow removing their URLs , You are pipe dreaming. NEVER HAPPEN,NEVER –
This is why :
The strategic importance of Domain Names to modern distribution channels, is just now beginning to be realized in today’s global market place. Yet even savvy business people do not fully understand the value and strategic magnitude of Domain Names.
In fact, Domain Names are often confused with trademarks. Although they have some similarities, Domain Names in actuality are far more valuable marketing tools than most trademarks. The similarities between the two? Both the Domain Name and trademark are considered intellectual properties of a global nature. However that is where their similarities abruptly end.
The big difference? A trademark can be owned by multiple different entities, in multiple global locations, pursuing multiple businesses. A Domain Name, on the other side of the spectrum, is a one-of-a-kind, unique World Wide Web address, which can have only one controlling owner.
The Domain Name commands many strategic advantages over a trademark. A trademark reveals a very limited amount of information, while the Domain Name actually “leads” the consumer or corporate buyer to an all-inclusive, information-rich website. Done successfully, the website embodies the information needed to effectively close the sale, slash prices and ultimately distribute goods and services more profitably.
These strategic advantages derived from using the Domain Name arguably position the Domain Name as the most important known key to unlock the potentially awesome marketing power of the World Wide Web.
It’s a well-known fact that the companies, who discover the Holy Grail of marketing over the Internet, will be the world’s leading mass marketers. To do this these companies need only to “master the first step.”
And the first step or key to accessing and unleashing the power of the World Wide Web is to simply own and control the most universally recognized branding-rich Domain Name!
Jeffrey A. Schneider,
Former Marketing Analyst, Rockefeller Foundation,
Owner/Founder http://www.USeBiz.com
Gratefully, Jeff schneider (Contact Group) (Metal Tiger)
A DNS-less internet will happen. Current authentication techniques are not adequate and the move towards a de-centralized, 100% secure identification on connection will render domain names obsolete. in some areas of the internet they already are.
Doubtful in anyone here’s lifetime is at the end of the day domain domain investors really don’t matter neither do hackers what matters is the general public and what they feel comfortable with. people remember names and they’re going to go to a name to transact their business or to read or to shop or to do whatever else they like.
Hello h4ck3r says or is that R2D2,
Well now we have it , the real voice of authority. Please Identify yourself as more than something of a joke. Another case of Circular Psycho- Babble.
Please inform the top 500 Lecgacy .COM Branded Corporations Globally of your profound Statement and you will find that the top 10 .COM Branded Internet Companies cannot and will not succed. If they try this they will be CRUSHED Henceforth. ( COUNT ON IT ) JAS
Gratefully, Jeff schneider (Contact Group) (Metal Tiger)
I tried reading about this the other day, and for me it got very bogged down, tedious, and I was feeling like I just wasn’t buying it at all. Maybe it’s just me though…
P.S. I’m not saying this as someone with an interest in domains, either, but as a person who tends to just be pathologically honest about whether I buy something or not…
…as well as someone who is otherwise pro-bitcoin and pro-blockchain…
I read the article but could not understand the underlying concept. Can someone explain in plain English how you can have a permanent place on blockchain where you can publish all your information and conduct business? Thanks.
Jeff……well spoken.
Your comment not only makes sense, it is eloquently and articulate. Thanks
Not quite related to DNS, but:
I expect the companies offering escrow service for domain transactions need to be very mindful of how Blockchain could destroy their business. When you add smart contracts into the mix the need for trusted intermediaries may become obsolete. There are also implications for fraud reduction and transaction costs, both of which could be reduced substantially by blockchain technology.
I believe there are a few companies trying to apply blockchain in the domain space, but unless WHOIS moves to blockchain I don’t see anything significant happening in this space yet. If that does happen I think we’re going to have some very profound changes to how domaining industry works.