Basics
Bitcoin Name Service (BNS) is a decentralized naming database that offers human-readable .btc domain names for users of Bitcoin's Web3. BNS functions on the Bitcoin blockchain and is secured by Stacks, with the goal of providing a user-friendly interface for managing and searching for domain names. BTC domains are stored on the Bitcoin network as NFTs.
What Is Bitcoin Name Service (BNS)?
Bitcoin Name Service is a decentralized naming database leveraging the Bitcoin blockchain. In essence, BNS serves a parallel function to Web2's Domain Name System (DNS), facilitating the acquisition, registration, management, and lookup of domain names.
What sets BNS apart from traditional DNS is its reliance on peer-to-peer server systems instead of centralized servers. This architectural choice aims to bolster resistance against censorship, offering a robust solution in decentralized technologies.
How .BTC Domains Work
A .BTC domain represents a specialized form of blockchain name registered and stored as a Non-Fungible Token (NFT) on the Bitcoin network. Managed within the Bitcoin Name Service, these domains undergo registration via smart contracts on Stacks, leveraging the robust security features inherent to Bitcoin for establishing a decentralized name registry.
Each.BTC domain's ownership is securely documented on the Bitcoin blockchain through a hashed representation. Furthermore, every domain and its subdomains within BNS are equipped with Decentralized Identifiers (DIDs), ensuring persistent identifiers for public keys and compatibility with various DID-utilizing systems.
The Advantages of .BTC Domains
.BTC domains offer distinct Web3 identities designed to streamline transaction processes and reduce errors. They present a user-friendly alternative to complex alphanumeric wallet addresses, potentially simplifying entry into the Bitcoin Web3 environment.
Adopting a .BTC domain signifies active engagement within the Bitcoin ecosystem, regardless of whether you are a trader, developer, or enthusiast. It serves as a visible marker of participation in the evolving Bitcoin ecosystem.
How to Acquire Bitcoin Domains
To obtain a .btc domain, you will first need a wallet that supports .btc domains, such as Hiro Wallet or Xverse. Additionally, ensure you have STX tokens in your wallet, as new domains on BNS cost 2 STX, excluding transaction fees. STX can be purchased from an exchange and transferred to your Stacks-compatible wallet.
1. Search for Your Desired .btc Name
Visit https://btc.us/ and enter the name you wish to register in the search bar on the homepage. A notification will inform you about the name's availability, the cost in STX, and the duration (typically 5 years for 2 STX).
2. Create an Account
Once you confirm the availability of your chosen name, create a Stacks account linked to Bitcoin to initiate the purchase. Connect your Stacks-compatible wallet to the platform for authentication.
3. Complete the Purchase
After logging in, proceed with the purchase of your selected .btc domain. Transfer the required 2 STX tokens, and you will gain ownership of the domain for five years. Note that a nominal gas fee will apply during the transaction. Upon completion, the Bitcoin domain name will be visible in your Stacks wallet. Additionally, it is possible to purchase pre-owned Bitcoin domains from secondary marketplaces. These domains offer unique Web3 identities, enhancing transactional efficiency and accuracy.
Conclusion
Bitcoin Name Service is a significant innovation in decentralized naming. It offers user-friendly .btc domain names on the Bitcoin Web3 platform. BNS is securely managed through the Stacks blockchain, and it uses smart contracts to register domains as Non-Fungible Tokens, ensuring robustness and transparency. BTC domains simplify transactions and enhance accessibility compared to traditional methods.