On December 3rd, the domain name platform Chain.com confirmed that it was sold. According to relevant information, the selling price of the domain name exceeded 100 million Yuan. Chain.com was registered in May 1997. Chain is regarded as a premium domain name in the blockchain industry. Lian.com, which is also related to the blockchain domain name, was also sold at a high price of 120 million Yuan.
It is not difficult to see that with the popularity of the blockchain industry, the number of related trading platforms, informational websites and other terminals have also rapidly increased. The demand for corresponding domain names has also risen unprecedentedly. In the current Internet world, the popularity of related domain names has gradually become an indicator of the prosperity of a certain industry. At the same time, we can also see the importance of domain names for the development of corporate users on the Internet.
At present, as Internet users and practitioners are frequently dissatisfied with the current centralized Internet problems, more and more people are beginning to pursue a new generation of Internet based on the blockchain with decentralized characteristics. Similar to the domain name system of the traditional Internet, the domain name system of the new generation Internet also has the functions of connectivity, convenience and necessity.
Currently, there are three main companies that have proposed and built a domain name system, these companies are: BitDNS, ENS and Unstoppable Domains.
Now let’s compare their main characteristics and features:
|Digital currency’s address resolution||Support||Support||Support|
|IP address resolution||Doesn’t support||Support||Support|
|Traditional DNS resolution||Doesn’t support||Doesn’t support||Support|
|Bottom blockchain connection||Etherium||Etherium||Multi-chain|
|User’s authentication||Doesn’t support||Doesn’t Support||Support|
|Client‘s DNS resolution||Doesn’t support||Doesn’t support||Support|
|Decentralized website||Doesn’t support||Support||Support|
|Decentralized encrypted mailbox||Doesn’t support||Doesn’t support||Support|
|Decentralized Cloud Computing||Doesn’t support||Doesn’t support||Support|
|Decentralized dAppstore||Doesn’t support||Doesn’t support||Support|
Ethereum can only operate in its own technology
ENS is the abbreviation of Ethereum Name Service. It is a scalable, distributed and has an open naming system which is based on the Ethereum blockchain. ENS maps have easy-readable names, such as qianbao.eth. And they have machine-readable identifiers, and have the function of reading Ethereum addresses, content hashes, and metadata.
From a certain point of view, ENS and DNS is very similar, and their functions are almost the same, except that DNS resolves domain names into IP addresses, while ENS resolves domain names into Ethereum addresses. Unlike DNS, ENS is more decentralized, but due to the capabilities and limitations of the Ethereum public chain, ENS is structurally different from DNS. ENS mainly includes two components: the registry system and the parser. The ENS registry goes to a smart contract that maintains a list of all domain names and subdomains; the resolver is responsible for converting domain names into addresses. However, ENS only supports the analysis of digital currency addresses, and it is difficult to connect the traditional information Internet and the underlying blockchain.
Unstoppable Domains focuses on transfers, but has fewer application scenarios
Just like browsing the domain names of the traditional Internet, Unstoppable Domains provides users with the opportunity to host sites on the Ethereum and Zilliqua blockchains. For those who are not familiar with blockchain technology, visiting these sites is also very simple. Users only need to add .crypto or .zil (such as .com) to the corresponding Unstoppable Domain and you will be navigated to different parts of the decentralized Internet.
At the same time, Unstoppable Domains will also allow users to link any cryptocurrency address to their domain name, and can allow them to make payments only by using the domain name. In the future, it will be used to support all cryptocurrency payments and all cryptocurrency wallets. In addition to being used as payment system, Unstoppable Domain can also provide users with the service of establishing anti-censorship websites, and the domain name registration has no expiring dates. It goes without renewal, and without escrow agent, the ownership of the domain name can be transferred also.
BitDNS domain name system, connecting the Internet’s information and its value
Different from the infrastructure of traditional domain name services, BitDNS’s smart contracts can replace the roles and processes of most registries. Any organization or individual can create subdomains in accordance with the rules of the registry. The parser plays the role of translation, converting names into hash addresses and some mainstream public chain addresses. Based on the cross-chain design, BitDNS can serve existing public chain ecosystems, such as Ethereum, IPFS, and etc. BitDNS allows users to have file access, address transfer, and makes smart contract calls more convenient and faster.
In addition to satisfying function of being “equivalent” to traditional DNS domain names, BitDNS also realizes the function of connecting the traditional information Internet and blockchain value network. Compared to ENS and Unstoppable Domains, BitDNS can support traditional domain name resolution, user identity authentication, and decentralization scenario-based applications such as encrypted mailboxes, decentralized edge computing, and decentralized DApp stores.
For users, the BitDNS domain name system aggregates a new generation of DWeb4.0 applications and opens up ecosystems, such as distributed websites, peer-to-peer encrypted mailboxes/instant messaging, social relations networks, video conferences, distributed information streams, short videos, and distributed commerce. Moreover, the BitDNS domain name registration fee is cheap and does not need to be reviewed by a centralized organization. Any individual, business, or organization can own a domain name, support domain name transactions, and even register the root domain name through first-mover advantage and enjoy the share of lower-level domain names.
In general, the blockchain domain name system must not only perform functions such as benchmarking traditional domain names and complete domain name resolution, but should also achieve a larger range of links and realize the full Netcom of the blockchain world.