In short, all web2 domain names are registered with a domain registrar, which manages the reservation of domain names and the assignment of IP addresses for those domain names through the domain registry. To be a domain registrar, you must be accredited by the Internet Corporation for Assigned Names and Numbers (ICANN), which is the leader when it comes to domain names in web2. ICANN is the non-profit organization responsible for maintaining domain names and related databases on web2.

Source: https://www.cloudflare.com/ …

Now you must be thinking, why are we explaining Web2 domains to you when we're all here about Web3?

This is because the Sui naming service is designed to connect Web2 domains to Web3. This way we can easily connect users to Web3.

Therefore, it is important to first learn how web2 domains work.

Web3 domains A crypto wallet address, as we all know, is a long string of random characters (e.g. 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa, guess whose wallet it is? Good luck.)

We have all experienced this stress when transferring tokens from one wallet to another, hoping that the wallet address is correct, even if we copied and pasted it. Or that mini-heart attack, when the tokens do not arrive in the target wallet for some time - makes you think:

"Shiite! did I make a mistake when inserting the address?

It sucks. Web3 domains prevent this.

A web3 domain name is a way to reduce payment stress by making your wallet address readable and easy to remember. As in Web2, a domain name is associated with an IP address; in web3, a domain name is associated with a crypto wallet address.

But who controls the Web3 domain names, is there a DNS equivalent? Are domain names generic like in web2? Find out in the next article.