Quick Summary:
- Members will support the development of Web 3.0 domains and fight bad actors, cybersquatting, and domain collisions.
- The Web 3.0 Domain Alliance aims to proactively engage in discussions with ICANN to raise awareness.
Related: Mastercard Launches New Crypto Fraud Protection Tool
What is Web 3.0 Domain Alliance
It was founded in 2022 to improve the technological and public policy environments for Web 3.0 naming service users. It promotes development of the Web 3.0 naming industry and the integration of blockchain and traditional web applications into Web 3.0 domain registries. Also, the Web 3.0 Domain Alliance promotes technological advancement and interoperability among Web 3.0 domain registries.
It is Web 3.0 domain names that are not regulated by ICANN, an American nonprofit organization charged with coordinating namespace databases. Cybersquatting, malicious phishing, and conflicts between Web 3.0 domains are among the issues the alliance seeks to address.
Among the members of the group are Unstoppable Domains (.crypto, .nft, .x, .wallet, .bitcoin, .dao, .888, .zil and .blockchain). Bonfida (.sol), Tezos Domains (.tez), Polkadot Name System (.dot), Hashgraph Name System (.hbar), Syscoin (.sys) and klaytn.domains (.klay). Polygon, Ethereum, Solana, Tezos, Polkadot, Hedera and Klayton are included in this cross-chain coalition.
Additionally, the Web 3.0 Domain Alliance aims to proactively engage in discussions with ICANN to increase ICANN’s awareness and recognition of W3TLDs.
Web 3.0 domains are vital to a person’s Web 3.0 identity. The holder is provided with an easy-to-read Web 3.0 domain, such as sandy.nft, to send and receive cryptocurrency instead of lengthy alphanumeric wallet addresses.
It can also be used to host websites, forward emails and as a single sign-on method for apps, games, metaverses, etc. A Web 3.0 domain is created on the blockchain and stored in the user’s wallet, putting more control in their hands.
The Web 3.0 Domain Alliance works to prevent naming collisions that make users navigate this new technology and distrust everyone. The Web 3.0 Domain Alliance will also protect consumer interests.
Conclusion:
The Web 3.0 Domain Alliance promotes the development of Web 3.0 naming. Moreover, they will promote Web 3.0 domains as distinctive, technologically advanced and useful for consumers. Also for regulators, and industry participants. Goal is to advocate for reasonable governance and recognition of Web 3.0 naming services by browsers. Also for Web 2.0 companies and technology partners. Visit official website for more information.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
