WHAT ROLE DOES TLD PLAY IN DAOs
WHAT IS A TOP-LEVEL DOMAIN?
First, we say “Top-Level Domain” (TLD) is one of the domains with the highest level in the Internet hierarchical domain name system after the root domain. Its names are configured in the namespace root zone. The final non-empty label of a fully qualified domain name serves as the final component for all domains in lower levels. For example, the TLD of the domain name “www.thedomaindao.org" is “org.” The Internet Corporation for Assigned Names and Numbers (ICANN) is a non-profit group based in the United States in charge of running the Internet Assigned Numbers Authority and maintaining the DNS root zone, which has delegated control of the majority of top-level domains to ICANN.
DECENTRALIZED AUTONOMOUS ORGANIZATIONS (DAOs)
Decentralized autonomous organizations (DAOs), one of the key elements of the cryptocurrency ecosystem, have quickly risen to prominence. They function as governing bodies entrusted with administering and overseeing the allocation of resources associated with a project, making them one of the fundamental DeFi applications. DAOs are the valued ownership of a community and operate without any central authority.
WHY TLD MATTERS TO DAOS
TLD could be seen as a big opportunity for DAOs. The top-level domain comes after the second-level domain and indicates the sort of entity a company is registered as on the internet. Examples can be “.com”, “.org”, “.biz”, and so on, but the necessity for “.dao” is of particular relevance. DAO is an emerging form of legal structure with no central governing body, every member within a DAO typically shares a common goal and attempts to act in the best interests of the entity, they are completely different from corporations and should establish their identities at first sight with .dao domains.
That’s where DomainDAO enters as they see the need and opportunity. They have already secured more than 20 DAO partners in a very short time, which can be seen as strong demand for .dao TLD from DAOs wanting to shift away from .com and .biz. DAOs have the potential to replace the traditional corporate structure in the near future.
Domain names have evolved to be recognized as a separate asset class, making it easier to make .dao domains relating to blockchain. TLDs serve as identification stamps for entities of similar goals and visions. It aids in the registration process and has the potential to prevent name clashes with other DAOs.
The information updated in the domain list encompasses a broader group of protected names which now includes everything from startups, to blockchain companies, and even national parks. It is firmly believed that trademarks and brands should be the owners of these domains. .dao domain will make it easier for DAO users to have a smooth operation whenever they need be.