Verisign

Verisign’s core asset is its government-sanctioned monopoly on the.com and.net top-level domains. These domains are fundamental to the internet’s architecture, creating immense switching costs and brand value. Verisign’s contracts include presumptive renewal rights far into the future, making the business very stable.

Its operation of DNS root servers and the root zone maintainer role adds an intangible trust advantage. Together these form multiple layers of moat: regulatory monopoly, a branded indispensable network service, and economies of scale. We rate the moat very high (90/100) due to this near-unique competitive position.