What is a Domain?
What are
Freename domains?
Are the Domains
Associated with ICANN?
Are there Renewal Fees?
Which Chains
are Supported?
Is Buying the same
as Minting?
What is Domain Minting?
What is a Wallet?
Why do i Need
a Wallet?
Can i Transfer Domains?
A domain is a human-readable name that points to the IP address of the corresponding website. Instead of using a long, complex string of characters.
Domains consists of :
For example,
“Freenamers.com” is the domain name,
Web3 domains function similarly to traditional domain names but exist on decentralized networks, giving users full ownership and control.
Freename domains are Web3 domains that allow users to create a decentralized digital identity. Unlike traditional domains, Freename domains are stored on the blockchain as NFTs (Non-Fungible Tokens), giving users complete ownership.
(Without annual renewal fees!)
These domains can be used to simplify cryptocurrency transactions (e.g. send and receive cryptocurrencies), access decentralized websites, and create a consistent identity across Web3 applications.
Freename supports various top-level domains (TLDs) and operates across multiple blockchain networks.
NO, Web3 Domains like those offered by Freename AG are not associated with ICANN (Internet Corporation for Assigned Names and Numbers), which governs traditional DNS (Domain Names System) on the internet.
Freename AG believes their domains must allow customers to operate independently of the traditional DNS. This means they don't require approval from centralized authorities imposing rules and regulations.
NO, Freename Domains don't have renewal fees.
Once you purchase a domain, you own it permanently as an NFT (Non-Fungible Token) on the blockchain, unless you choose to sell or transfer it.
This is different from traditional domain names, which require annual renewal payments. With Web3 Domains, you make a one-time payment and maintain ownership indefinitely, eliminating recurring costs.
Freename domains support multiple blockchain networks, including:
This multi-chain approach allows users to choose the network that best suits their needs in terms of transaction fees, speed, and ecosystem integration.
*Freename plans to expand its multi-chain approach by adding blockchains upon which domains can be minted.
NO, buying and minting are different processes in the context of blockchain domains:
Minting: This is the initial creation of a domain as an NFT on the blockchain. When a domain is minted(*) for the first time, it's being created and recorded on the blockchain.
Buying: This refers to purchasing a domain,
or
Domain minting is the process of creating a new Web3 Domain and recording it on the blockchain as an NFT (Non-Fungible Token), via your wallet to gain full custody of the domain.
When you mint a domain, you're essentially creating a unique digital asset that you own. This process involves a blockchain transaction that permanently records your ownership of that domain name. Once minted, the domain becomes your property and can be used for various Web3 applications or transferred to others.
A cryptocurrency wallet is a digital tool (an unique account on the blockchain) that allows you to store, manage, and interact with your blockchain assets, including cryptocurrencies and NFTs like domain names.
A wallet consists of a public key and a private key. The public key can be safely shared with anyone who wishes to send assets to the corresponding wallet, however, the private key should not be shared. Your private keys are the cryptographic codes that give you access/control to your blockchain assets.
Wallets come in various forms, including:
Your wallet serves as your identity in the Web3 ecosystem and is necessary for purchasing, minting, and managing blockchain domains.
You need a cryptocurrency wallet to interact with blockchain domains because:
Without a wallet, you cannot own or control blockchain assets, including domains.
Yes, blockchain domains can be transferred between users. Since these domains exist as NFTs (Non-Fungible Tokens) on the blockchain, they can be:
Transferring a domain changes the ownership record on the blockchain. The new owner gains full control over the domain and can use it for their wallet addresses, websites, or other Web3 applications.