The Blockchain Domain Registry System will focus on
enabling the Cardano community to maximize the use of
blockchain domains
British Virgin Islands, Sept 29,
2021 – (ACN Newswire) – Web23 Inc., a USA company and
NexBLOC, a British Virgin Islands company, are partnering to
develop a blockchain based naming system that runs natively
on the Cardano blockchain platform. The initiative continues
the move of the Butterfly Protocol onto numerous blockchains
to ensure that those communities have the tools needed for
full decentralized internet optimization.
The
Butterfly Protocol was originally created using the Ethereum
blockchain and continues to provide resources and tools for
the Ethereum community. But, according to Dana Farbo,
Founder of NexBLOC, the move helps expand the various
blockchain development communities’ access to a unified
naming convention. Mr. Farbo stated that, “we will continue
to lock the root domain on Ethereum but by using other
blockchains, we can prepare for wider acceptance of
blockchain DNS (bDNS) and lower costs for using the
decentralized web.”
Som Kirann, Founder of Web23 went
on to say “Cardano has been driving decentralization at its
core and with the recent deployment of their Plutus smart
contract capabilities, we wanted to be a first mover in
creating capabilities for human readable naming that exist
on other chains. Working with Butterfly and NexBLOC allows
us to move fast and prepare for a bright future within the
Cardano community.”
This marks the second blockchain
in the NexBLOC roadmap for naming system ubiquity across
chains. Earlier this year, the buildout on XDC Networks was
announced and work is progressing rapidly on the XDC
blockchain. Supported by a grant from the XDC Foundation, a
full deployment and rollout is expected for November 1st,
2021. In addition to the standard access tools for
connecting websites using IPFS, wallet authentication and
browser extensions, NexBLOC is working with XDC Networks
dApp developers to integrate specific dDNS solutions for
their projects.
Web23 is known for its work on
allowing companies or individuals to create domains at
scale. This is important for building an offensive and
defensive system around brands and professional work. The
SaaS solution creates an artificial intelligence supported
capability to acquire similar names automatically based on
trends, word searches and social media chatter. They are
integrating the system into the decentralized domain
acquisition space with low gas fee blockchains such as
Cardano. As per Mr. Kirann, “rapid and bulk domain
acquisition with the current state of Ethereum gas fees
makes it prohibitive to deploy at scale. Cardano, XDC
Networks and other blockchains allow us to provide a
solution that supports the brand owner.”
The Cardano
deployment is expected to be ready in mid-Q4, 2021, with
other blockchains planned as part of the collaboration
between Web23 and NexBLOC.
About Butterfly Protocol
(https://www.butterflyprotocol.io/)
Butterfly
Protocol is a decentralized autonomous organization (DAO)
that aims to replace the Domain Name System (DNS) system and
change the economics of domain ownership.
About Web23
(https://web23.io)
Blockchains
are starting to open whole new world of possibilities where
top level domains (TLDs) as well as long and weird wallet
addresses need to be converted into human readable formats,
the motive for existing ICANN based domains and their
resolutions to IP addresses.
As a SaaS solution, Web23
aims to:
– Automatically protect the primary domain
& neighborhood domains in the ICANN world
–
Optimize publishing of the domains to minimize the effects
of look-alike domains
– Notify owners & admin in
24X7 mode with ongoing threats targeted to the
domains
– Automatically protect the primary domain
& neighborhood domains in the Blockchain world
–
Notify users about impersonated accounts in social
media
– Assess health of the brands with respect to
domains & their resolving/publishing
At Web23,
ICANN & Blockchain domains would be bought,
administered, transferred & monitored in the secured,
optimized & automated ways
About
NexBLOC
Founded as a BVI company in 2021, NexBLOC uses
the Butterfly Protocol and other technology stacks to create
custom deployments of bDNS systems. They currently have over
ten private blockchain top-level domains (bTLD) in various
forms of deployment. In addition, they are working to roll
out a free working environment for all blockchain developers
using the .sandbox bTLD and other
extensions.
Forward-looking statements
Except
for statements of historical fact, the matters discussed in
this press release are forward-looking and made pursuant to
the Safe Harbor provisions. “Forward-looking statements”
describe future expectations, plans, results, or strategies,
and are generally preceded by words such as “future”, “plan”
or “planned”, “expects,” or “projected.” These
forward-looking statements reflect numerous assumptions and
involve a variety of risks and uncertainties, many of which
are beyond the company’s control that may cause actual
results to differ materially from stated expectations. These
risk factors include, among others, limited operating
history, difficulty in developing and marketing products,
intense competition, and additional risk
factors.
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