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| 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.
Topic: Press release summary
Source: Butterfly Protocol
Sectors: Crypto, Exchange, Blockchain Technology, ICOs & Tokens
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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