Did you reserve your ethereum domain name yet?
Most people still don’t know this yet. Internet 3.0 is now being built. Based on mesh networking an privatepublic cryptography, your internet IP address will be included with you wherever you are. It won’t need to be fixed to a piece of static hardware. How would you like your own permanent web address? How will people find you?
When you type ‘google’ in your web browser search window (URL line) – how does the Internet know where to go? Google has a server with an IP address which is how computers find each other on the network. For an experiment – try http://www.monitis.com/traceroute/ for the website of your choice and it will show you all of the router ‘hops’ it took to get to that URL location.
Google’s name is registered with ICCAN which was, until recently, was the organization in charge of maintaining the master record (Domain Naming System – or DNS) that converted strange looking IP internet addresses to human-readable names like “Google”. When the internet revolution was beginning – some companies were slow to recognize the potential and some continued to consider it a ‘fad’ until they were driven out of business by it.
At first, there was no nice easy way to remember all of these internet addresses and you had to keep a spreadsheet or something to remember how to reach them until DNS came out and was recognized as ‘the standard’ everybody could use to keep track of these indexed names. Nowadays people will contact a service that will help them register a new domain name through services like “GoDaddy”. But GoDaddy will just contact ICAAN (or whoever replaced it when Obama let go of the US right to maintain it).
No Etherreum is pegged by many to be the backbone of the next version of the internet. The “IP addresses” of the future will be ethereum addresses. They are big ugly strings of hexidecimal numbers that start with 0x…and go on for 40 more digits. Far too many to memorize.
One person can own an unlimited number of them and they are randomly generated. The odds of two randomly generated are about the same as finding a particular grain of sand on the planet by random chance. These can be used to pay somebody in ether, or identify an object or person, a piece of property, intellectual property and anything that can be recorded on the public ledger called “blockchain’.
But are you going to keep a spreadsheet in your pocket to remember everybody’s 42 digit hexadecimal address? No. There will be a service that will do like ICAAN did for the Internet you use today. Though the new ethereum addresses will already were assigned by random chance, a smart contract computer program will record for us by use of an auction process. Never decided by a person who might be tempted to censor, or refuse. Some day, instead of you submitting a tip to me for providing you such potentially valuable information to an address I own like 0x265EA20aD80132b348133a006FBF535432f70488 – you will be able to send it to a friendly name I’ve registered on the contract that will then be recognized by the ethereum network.
When will such an amazing and exciting service exist? You may wonder. As of last week – it is already here. The new system is appropriately called the (Ethereum Naming System or ENS). People are now bidding on names and places today that others will be envious of later, perhaps years from now when they are shocked that somebody already ‘owns’ their name. In the early days of the internet, this became known as ‘cybersquatting’. Some made fortunes from nothing but being their first and choosing the correct name to register. Of course a court system might allow a trademarked or copy write name to be used and would likely win in a court of law – but one word “Weather” sold for auction recently over $24,000 dollars. “CBSNews” also went for a price similar. Hopefully to the actual CBSNEWS or the unfortunate bidder will likely be in for some bad news.
I do not believe people’s names are copy writeable so it might be in your best interest to buy your name when it is available. There are rules like it must be at least seven characters – and there are more rules about when you can claim it, and other auction specific rules that you should read carefully or you could forever lose your ether you bid on it. It also won’t be used in the live system for two more years – so if you do this, know you are very early. But that’s why you read my posts, isn’t it? Early bird gets the worm.
You can use “myEtherWallet.com’ to see if yours is available for purchase. (I recommend owning a Nano Wallet to pay for it). Names will become available to purchase at random times and I bought mine because it happened to be available before most. Anybody famous names you know that might like to purchase their name back from you? Somebody is paying early low auction prices for them now, while 99.99999999% of the world is oblivious.
One day I will be able to say – “Just Pay MarkRees”. – In perhaps two more years when the system is live. I now know with certainty that I will be the first in the world.
Learn more about the rules and process – including setting up a ‘watch’ list for when your coveted name becomes available here: http://registrar.ens.domains/
Good luck – tell me how yours went.
Gold and Silver down again…. : (
It's just amazing how volatile that supply vs. demand is for Gold and Silver! (sarcasm off)
Unbelievable how many names are already gone. There is even one account that is already holding more than 17.000 names. Even secondary market places are setting up: https://ether-domains.com
However it seems there is not much demand, yet for the Ethereum names. It's still a niche that only a small group of crypto geeks knows of.