BNS: Decentralized domain name system and DID account system on the BNB chain

In July, the decentralized domain name track ushered in broke out. Taking ENS (Ethereum Name Service), the most widely used decentralized domain name, Dune Analytics data shows that the number of newly registered domain names in ENS reached 378,442 in July, a new high, surpassing the previous record of 365,652 in May , the total number of creations exceeded 1.86 million, and the number of independent addresses participating in the registration exceeded 500,000.

On the other hand, the well-known NFT domain name service provider Unstoppable Domains also completed the 6500 A round of financing of US$ 10,000, led by Pantera Capital, with participation from Mayfield, Gaingels, Alchemy Ventures, Redbeard Ventures, Spartan Group, OKG Investments, Polygon, CoinDCX, CoinGecko, etc., with a post-money valuation of US$1 billion.

These decentralized domain name projects not only provide users with the original underlying address of the blockchain Mapping to a human-readable "username" also greatly improves the accessibility of some wallets and apps by integrating with the latter. However, in addition to head projects such as ENS and Unstoppable Domains, there are still some similar projects with great potential in the market. For example, BNS (Binance Name Service), a domain name service provider on the BNB Chain, is an open and scalable domain name service based on the chain. Extended, distributed domain name system.

Decentralized Domain Name: The Basic Component of the Web3 Era

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Blockchain has created a wonderful asset recording method, and with the acceleration into the Web3 era, the blockchain network can not only carry the user's assets, but also in the smart contract With the blessing, various businesses or services can also be provided. For example, the emergence of more and more decentralized domain name services also creates a strong identity system for users while mapping a series of addresses into more readable names for users.

Before, traditional Web2 applications were mainly composed of "domain name" and "server". Through the DNS domain name service system, the domain name and the "IP address" corresponding to the server are mapped, so that ordinary users can access the website.

Nowadays, the storage and computing power provided by the "server" can gradually be accessed through IPFS, Ethereum And other decentralized technology combinations, so the community is gradually decentralizing the "domain name" through the blockchain network to improve user experience.

In addition, the decentralized domain name can also be used as a wallet address to receive multiple Cryptocurrencies, including BTC, ETH, and other integrated assets. Even after connecting a decentralized domain name to DNS, transactions can be sent to specific websites for payment without going through a payment middleman.

In terms of creating a decentralized identity system, that is, with the help of DID (Decentralized Identifier), Decentralized domains put control of identity and data back in the hands of users. Moreover, while getting rid of the control of the centralized data service platform, the information aggregation of DID will make the user's digital identity richer and more three-dimensional, and then lay the foundation for diversified application scenarios such as decentralized finance and games. These will undoubtedly become Web3 world basic component of .

Therefore, the ultimate benefit of decentralized domain names does not come from a single use case alone, but rather from an aggregation of potential use cases. At the same time, as an application with native payment and potential censorship resistance, decentralized domain names are in their early stages, but they have received a lot of attention.

In addition to the decentralized domain name on Ethereum, the domain name service on BNB Chain recently, It has also been sought after by users and enterprises. With the help of BNB Chain's vigorous application and user ecology, BNS, which focuses on the domain name service of the chain, has not only effectively filled this market demand, but also made great contributions to the interconnection and prosperity of BNB Chain.

Currently, any user can upgrade the original BNB Chain address by registering a BNS domain name, and will have an NFT representing the ownership of the domain name. In addition, users can also use thousands of Dapps in the BNB Chain ecosystem to enjoy an easier user experience without friction after the BNS domain name is integrated with a series of wallets and applications.

Decentralized domain name service on BNB Chain

BNS is the domain name service system on the BNB Chain, and it is also a decentralized With the personalized mailbox service, the user's domain name is his mailbox, and he can send and receive emails with all mailboxes during use, and these data belong only to the user.

At the same time, any product side can define users in the Web3 user information distribution center based on domain name identity Behavioral characteristics of the other party's chain can be shared in real time after cross-correlation.

In general, in addition to providing decentralized domain name services, BNS is also an expression of identity Even a socially enabled infrastructure designed to enable widespread adoption across wallets, BscScan, cross-chain bridges, exchanges, Dapps, and Web3 domains.

For the registration process of BNS domain name, it is very convenient. Users can register a BNS domain name with one click. From name search to successful registration on BNB Chain, it takes no more than 1 minute, and the average cost is less than 10 US dollars, starting from 5 US dollars. In the future, BNS will gradually cover more than 90% of BNB Chain user scenarios, allowing many Binance users to obtain their own short domain names to seamlessly connect usage scenarios.

In addition, BNS will maintain all registered domain names, each domain name includes domain name owner, domain name resolution Key information such as the time-to-live of all records of the domain name under the server and cache. A domain owner can be an external account (user) or a smart contract that can set up a resolver for that domain and transfer domain ownership.

In terms of technical architecture, BNS is divided into user layer, operation layer and core layer.

User layer:

The user triggers the "controller" at the front end, the controller Responsible for routing and forwarding user requests.

Operation Layer:

-“ Domain name registrar" is responsible for user information storage, domain name address mapping, and domain name renewal management;

-"Price calculator" is responsible for the calculation of domain name prices and the price conversion of various currencies.

Core Layer:

-" "Holder Manager" to verify domain names and holders;

-Manage "Domain Name Purchase or Renewal";

-"Currency Converter" to convert various currencies;

-"Length Calculator" provides unified length calculation of Chinese, English and emoji domain names;

-"Domain Name Resolver" resolves domain names into addresses.

Therefore, BNS can not only resolve the domain name to its BNB Chain address, but also the BNB Chain The address is reversely resolved to its domain name, which will significantly improve the readability and usability of the BNB Chain address.

DID Account System in the Web3 Era

In the era of Web 1.0, which was the first phase after the creation of the World Wide Web, it was often called a read-only web, where users could not write. At that time, the website was informational, containing only static content hyperlinked together, lacking interactivity, such as the original portal websites such as Yahoo and Sohu that we are familiar with.

Later, with the iteration of the Internet, the way of interaction has also improved, and users can start writing , the World Wide Web began to enter the Web 2.0 era. This stage is also known as the ReadWrite Web, or participatory social networking, where numerous platforms include a variety of online tools where users can share their views, opinions, ideas, and experiences, such as the Tianya Forum in the early days, and the current Popular Q&A communities Zhihu, Quora, etc.

However, there has always been a major flaw in the development of the Internet. are stored on centralized servers controlled by the company. Although platforms such as Facebook and Twitter say that they store user data in their servers so that they can provide users with better content, this also causes users to stay on these platforms for too long, and personal privacy issues continue to appear. The phenomenon of being leaked.

Even these companies sell user information to advertisers to earn huge profits, But users can do nothing about it, no doubt this is an era of centralization.

But with the advent of the Web3.0 era, it is becoming more and more urgent to create a decentralized and secure Internet where users can exchange information and assets without middlemen. By adopting a decentralized model, all user data can also be controlled through wallets, private keys, and even decentralized domain names. At this time, the ownership of the data will truly belong to the user.

BNS aims to become the most influential decentralized domain name system in the BNB Chain ecosystem And the DID account system, in the future, will gradually open up the mainstream platform scenarios, link more Web2 and Web3 users by building a decentralized question-and-answer community, and create a Zhihu or Quora in the Web3 era.

Of course, the decentralized domain names created by users on BNS can be traded, a good domain name is more valuable than some NFT, Users can collect and sell domain names like ".bsc" and profit from these unique domain names.

In addition, BNS also innovatively proposed the concept of "Share To Earn", for all received Service providers who enter BNS can obtain their own income from the agreement, which provides the platform with richer monetization methods, and at the same time allows BNS ecological participants to obtain part of the income.

At present, the track of decentralized domain names has become increasingly popular after receiving a lot of attention. There are also some homogeneous projects gradually appearing. These projects are still at a relatively early stage, and there is still much room for improvement in protocol integration, user experience, and access to the Web2 world.

< p>Perhaps in the future, it doesn’t matter whether such protocols are the only one or multiple protocols coexist, but in the Web3 world, such a decentralized domain name and DID account system must be needed to carry the identities of applications, websites and users , and BNS is currently actively making contributions to this field in an orderly and non-stop manner, and its follow-up development is worth looking forward to.

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