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abetterworld (42)admin5 years ago
Why are we still renting domains?
Johnny Wu Sep 23 · 3 min read Isn’t it strange how nobody actually owns their domains? We all just rent them.…
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Why are we still renting domains?
Johnny Wu
Sep 23 · 3 min read

Isn’t it strange how nobody actually owns their domains? We all just rent them. Somehow we’ve grown accustomed to paying annual fees to corporations just to use their subdomains!

The only way to actually own a domain is by owning the top-level domain, but these are controlled by an organization called ICANN. Applications for new ICANN top-level domains (TLDs) are currently closed making it literally impossible to own a domain, but that doesn’t even matter because the usual application fee to apply for a new TLD is a whopping $185,000.

However, there’s now an alternative to the ICANN TLD system and it’s been backed by venture capitalists like Andreessen Horowitz, Sequoia Capital, Greylock Partners, and Draper Associates: Handshake.

Handshake is a decentralized blockchain (source code) that distributes TLDs through vickrey-style auctions where the highest bidders only pay the 2nd highest bids.

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Why are we still renting domains?