BLOCKCHAIN DNS — NEXBLOC
The meteoric rise of blockchain technologies has given developers a variety of blockchain platform protocols on which to run their smart contracts. Every month, developers release new blockchain protocols and standards, introducing different application features, different requirements for throughput, security, cost and so forth. This proliferation of blockchain protocols has led to a blockchain wild west, where protocols and standards are evolving separately while users are kept in their siloed version of their data/ liquidity.
Since 1983, the Domain Name System (DNS) has been at the heart of the Internet, connecting domains to IP addresses. In recent years and with the emergence of blockchain technology, an exciting development has taken place in the decentralized world.
Blockchain-based bDNS has arrived, ushering in a new evolution of DNS. Blockchain domains are connecting digital assets to the bDNS. Anyone eager to register a digital domain on a blockchain-based bDNS can do so and experience several unique benefits with this pre-mainstream ecosystem, such as stronger security and greater transparency.
NexBloc is a blockchain-based bDNS marketplace with features that are disrupting conventional DNS systems. NexBloc is a platform to trade blockchain domain names with true ownership and control for the domain owners. NexBloc will integrate multiple blockchain protocol standards to sit on top of a trustless Omnichain Interoperability protocol platform to deliver decentralized, secure and credible bDNS services at the buyer’s end along with Non-Fungible Tokens (NFTs) for domain ownership to achieve true ownership.
Instead of the traditional .com, .net, or .org extension, blockchain domain name system bDNS use .crypto, .eth, .bit, and so on. In terms of functionality, they share some similarities with traditional DNS as they map individual blockchain addresses to human-readable domain names. However, rather than pointing to centrally located servers, blockchain domains use globally distributed computer networks.
As such, decentralized domains are tokenized assets represented as Non- Fungible Tokens on the blockchain. In turn, they are mapped to other addresses on the network to which users are directed depending upon their request. Apart from making addresses more accessible, blockchain domains also unify them.
