‘Why we need blockchain domains?’ was written by Onchaindomain.com

Similar Problem

When the internet, then known as ARPANET became commercially available in 1974, domain names were all but a thing of the future. In order to direct your browser to a web page, you had to manually enter the IP address of the site each time. The process was not too dissimilar to how we enter a phone number today. This meant that you had to record or memorize each and every site that you wanted to visit. Fast forward all the way to 1982. This was when the Domain Name System (DNS) created .com and several other popular domain extensions that we all know and use today. These domain names allowed websites to assign an easy to recognize, memorable name. By making it infinitely easier to surf the web, this function helped the internet gain traction and grow exponentially

Modern Twist

Like the internet back in 1972 today’s blockchain sector, while at the forefront of technology is lacking in a few areas. Most notably the way in which we send and receive the vast majority of cryptocurrencies and tokens in existence. Practically all crypto assets whether they are a token or a coin, are built on the blockchain. In most cases, custody of these assets comes courtesy of a software or hardware wallet. The problem lies with how you send and receive the assets to and from these wallets. The wallets employ an address system that uses a string of alphanumeric characters. Bitcoin addresses, for example, are between 26-35 characters. That’s a sequence of 35 random letters and numbers.

This makes memorising a wallet address practically impossible. However not only that, now even the simple task of sharing and recording the address becomes a lot harder, due to its complexity. This is all without mentioning the fact that if a single character is wrong in the address sequence. The transaction, potentially a life-changing amount, would be irreversibly sent to a different wallet and gone forever with no option of recourse. It’s not surprising so many people are nervous about the prospect of getting into crypto even if it does intrigue them

The Solution

Thirty years on and once again it is a domain name system that can provide the solution to this new problem. This time however it is a multitude of domain systems, built for a range of blockchain use cases. One of these applications and perhaps the one that will have the most impact. Is their ability to point to a cryptocurrency wallet. Enabling the end-user to complete blockchain transactions without the use of a complicated alphanumeric style address. This feature alone has the potential to do wonders for the greater adoption of cryptocurrencies and blockchain technology. As now anyone can securely send and receive crypto payments by simply using a short easy to remember, hard to mistake, memorable name.

Other Functions

Some Blockchain Domain Name Systems (bDNS) can also have other functions such as the ability to create simple static websites that live completely on the blockchain. This function is achieved by pointing the domains to a decentralized storage platform and directing user traffic to the files. Plus because everything is conducted on the blockchain and therefore distributed, it is fully censorship-resistant and the owner has complete control of the website

Under Construction

There are a number of companies and organizations currently developing blockchain domain systems and the underlying technology. Specific properties and features vary from project to project but they all seem to share the shame common goals. To simplify blockchain technology, increasing its adoption and develop the technology that will provide the foundations for web 3.0 and the next generation of the internet. Below we have listed the details for the project that we believe is way out ahead leading the field in blockchain domain development. Unstoppable Domains

Unstoppable Domains

Decentralized naming service offering two blockchain domains, .zil built on Zilliqa and .crypto built on Ethereum. One time purchase – No recurring fees. Find out more here

Onchain Domain

Trade premium blockchain domain names on the open market and discover more about them via our blog

Why we need Blockchain Domains?

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