Name Price24H (%)
Bitcoin (BTC)
$10,740.99
0.11%
Ethereum (ETH)
$354.72
0.32%
XRP (XRP)
$0.241868
-0.24%
Litecoin (LTC)
$46.02
-0.47%
Unstoppable Domains Set to Auction 60 Blockchain-based Domai...
NEWS

Unstoppable Domains Set to Auction 60 Blockchain-based Domains

Unstoppable Domains, a software firm that builds blockchain-based domains which host uncensorable websites, has released a list of 60 .zil domains.

The 60 Most Watched Domains

As stated in its press release, the San Francisco-based startup Unstoppable Domains has released a list of the “most wanted” domains it plans to auction off to the highest bidders on June 27, 2019.

According to the firm, the 60 most watched .zil domains are: bitcoin, crypto, porn, blockchain, money, insurance, gold, cars, hotels, satoshi, bra, zil, usa, bank, wallet, beer, ethereum, carinsurance, lasvegas, pay, trump, weed, travel, toys, pizza, cannabis, xxx, litecoin, privatejet, music, xrp, fb, z, shop, 366, coffee, coin, cash, vacationrentals, porno, hotel, payme, booking, diamond, insure, game, exchange, 1, ripple, donaldtrump, abc, cardano, auction, shoes, ai, car, we, domain, elonmusk and israel.

The firm claims the top bitcoin.zil domain has already attracted 505 potential buyers.

Commenting on the matter, Matthew Gould, CEO of Unstoppable Domains, expressed his excitement over the growing enthusiasm people have shown towards its product so far.

He said:

“These domains provide two very essential benefits to users: they enable people to send cryptoto a single human readable name, and they offer a platform to create uncensorable websites. The concepts of free speech and growing the cryptosphere are really resonating with our customer base.”

Specifically, the team has made it clear that the auction will be divided into two broad phases.

During phase one, the above listed 60 watchlisted domains will be auctioned for a “buy now” price of $10,000 each.

Interested buyers can pay for the domains with either bitcoin (BTC), ether (ETH), litecoin (LTC) and bitcoin cash (BCH).

READ  The Debacle of the Lightning Network and Wiki Editors

In phase two, zilliqa (ZIL) will be the only accepted mode of payment and bidding will start between $10 and $1,000 depending on the price of the particular domain in the pre-order phase. Participants cannot bid above $10,000.

In the initial stages, blockchains can keep up with the demand on their network. However, as usage increases, the ledger struggles to meet the needs of the ever increasing number of participants, as is especially visible in large networks such as the Bitcoin or Ethereum.

While there are improvement proposals that aim to better the response and throughput of these networks, most are unable to adequately keep up with the growing demand created by the growing group of participants.

The Zilliqa white paper explains that is a result of the structure and design of distributed ledgers at their inception:

“The limitations in scaling up existing protocols are somewhat fundamental – they are rooted in the design of the consensus and network protocols. Therefore, even though reengineering the parameters of the existing protocols in say Bitcoin or Ethereum (e.g., the block size or the block rate) may show some speedup, to support applications that need processing of thousands of Tx/s however requires rethinking the underlying protocols from scratch.”

As such, to create blockchains that are able to scale adequately, it is essential to re-work the thinking that goes into the creation of distributed ledgers.

Zilliqa aims to achieve this by introducing a new concept to the fundamental architecture of their blockchain, referring to their innovative design tool

READ  Africa Spearheads Crypto Adoption Despite Lack Of Government Clarity

Each new bid must be at least five percent higher than the previous bid, and if a person is outbid, they will get their funds back immediately. The team says the auction event is open to participants from across the globe and anyone can watch the auctions live.

In related news,informed that the Ethereum Name Service (ENS) announced that users would be able to claim their unique .xyz domain names on the ENS platform.

The announcement implies that anyone who currently owns a .xyz domain name (regardless of the DNS registrar purchased from, will now be able to claim the identical name in ENS’ mainnet. A claimed web address can be used in the same capacity as any other .eth name including the integration with a digital wallet, the creation of sub-domains, and naming smart contracts (EDCCs), among other things.

Leave a Comment

Your email address will not be published. Required fields are marked *