Internet users, at the start of 2018, are just a bit shy of hitting 4,000,000,000 in total. Online business is at a scale never seen before. The whole e-commerce system almost entirely runs on the internet and platforms reaching out to customers all over the world need to register themselves through domains. As of Q1, 2017, .net and .com, the most popular domains had a total of 143,600,000 registered users and there was a 3.7% increase in worldwide domain registrations, a whopping 1,300,000 in three months!
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Issues in Today’s Market
In today’s setup, domains are registered through a few, selected and centralized servers. This poses unique problems that can be devastating to the e-commerce industry:
Server Downtime: Although many servers claim to have multiple backups and a 99% uptime guarantee, even a fraction of downtime means all registered businesses will stop.
Censorship: Governments can order and control domain servers, leading to censorship and complete shutdown of systems.
Poor Management: Centralization in such a vast network leads to inefficiencies in management.
Data Privacy: Users do not know how and what type of data pertinent to them will be monetized by the domain registrars, leading to an invasion of privacy.
Dynatiq: Decentralizing The Domain Market
Dynatiq, is a decentralized domain and website marketplace that counters these issues. Based on Blockchain, the platform counters the menace of centralization:
Trusting information to a third party always leads to a breach of ethics and user data is sold off. Decentralization will eliminate the need for that trust.
Always On: Through Blockchain’s always on feature, there will not be a single point of failure. A disturbance in single or multiple nodes will not affect the performance of the others since each node will be working independently of each other.
No Censorship: With multiple nodes running all over the world, governments and other Big Brothers will not be able to control and shutdown partial or complete services.
Other Benefits of Dynatiq
Dynatiq, apart from being a domain and website marketplace, will also allow users other benefits. This includes an escrow service, where the platform will act as a guarantee on both sides of the trade, holding money by the buyer until the transaction of product or service is completed.
The platform will also have a rating based system for users. Websites and domains will be rated according to user feedback, allowing for audience and customer attraction.
DTQ, The Dynamic Dynatiq Token
Service on the Dynatiq market will be monetized by their ERC20 standard Ethereum based DTQ token. Of the 11,000,000 DTQ ever to be made, 10,000,000 DTQ will be available for early backers in their token generation event, starting 25th April 2018.The event will run until 9th of June. The DTQ will be available for 1 ETH = 2000 DTQ. There will also be a bonus for the first month of the distribution event, starting from 50% for the first 10 days, 25% for the next 10 and 10% for the last 10 days of the first month.
For more information, visit the Dynatiq website: https://dynatiq.com/