A tweet by Unstoppable Domains has announced that Web3 Domain Alliance. Reportedly 52 new members have joined the alliance.
Some of the recent entrants include Blockchain.com, Rarible, Wyre, BitDegree, WazirX and Klever. The expansion of the alliance with 51 new members is a positive sign for the growth of the decentralised web ecosystem. It indicates that there is a growing interest and investment in the development of decentralised web infrastructure and applications, which could lead to increased adoption and innovation in the space.
Web3 Domain Alliance
The Web3 Domain Alliance is a global collaboration of companies, organisations, and individuals focused on advancing the development of decentralised web infrastructure and applications. The alliance aims to promote the growth and adoption of the decentralised web, also known as Web3, which is a vision of the internet that is more open, transparent, and decentralised than the current web architecture.
The Web3 Domain Alliance was founded in 2022 by blockchain and cryptocurrency companies including Unstoppable Domains, Bonfida, Tezos Domains, Polkadot Name System, Hedera, Syscoin, and Klaytn Name Service, with the aim of bringing together different stakeholders in the decentralised web ecosystem to collaborate and advance the development of web infrastructure and applications. Since then, the alliance has grown to include a diverse range of members from different sectors, including academia, non-profit organisations, and startups.
The Web3 Domain Alliance is focused on developing open-source software, building common standards and protocols, and providing educational resources and events to promote the growth and adoption of decentralised web technologies. The alliance also serves as a platform for its members to collaborate and share resources to advance the development of the decentralised web ecosystem.
Why was the Alliance formed?
The Web3 Domain Alliance was formed with the aim of advancing the development of decentralised web infrastructure and applications, and promoting the growth and adoption of the decentralised web ecosystem, also known as Web3.
The current web architecture is centralised and relies on a few large corporations to provide and control the flow of information, which can lead to issues such as censorship, lack of privacy, and data breaches. In contrast, the decentralised web architecture, which is the vision of Web3, is designed to be more open, transparent, and decentralised, with information stored on a distributed network of nodes rather than in centralised servers.
In 2022, there was a huge spike in the number of Web3 domain names. This prompted many in the industry to explore the possibility of Web3 domains replacing the conventional domain names. In such a scenario, there was the need for an organisation that could bargain with the regulator of the domain name industry, ICANN.
How would the addition of new members affect the alliance?
The new induction of 52 members into the Web3 Domain Alliance represents a significant expansion of the alliance’s membership and is likely to have several positive implications for the alliance and the decentralised web ecosystem as a whole.
Firstly, the addition of new members from a diverse range of sectors and industries is likely to bring new perspectives, expertise, and resources to the alliance. This could lead to increased collaboration, innovation, and adoption of decentralised web technologies, as well as the development of new use cases and applications.
Secondly, the increased membership base of the Web3 Domain Alliance could help to raise awareness and visibility of the decentralised web ecosystem among a broader audience. This could lead to greater interest and investment in the space, as well as the development of new partnerships and collaborations with other industries.
Finally, the expansion of the Web3 Domain Alliance could help to strengthen the alliance’s position as a leading organisation in the decentralised web ecosystem. This could lead to increased influence and impact in space, as well as the development of new initiatives and projects to advance the goals of the alliance.