Web3 is getting easier with IoTeX Improvement Proposal 22: IoTeX Domain Name Service.
Crypto addresses are frustratingly long, garbled strings like “lswli4yuofd8a0s” – a clunky mechanism that often leaves room for error when inputting. And as cryptocurrencies become mainstream, there will be a substantial market for Web3 addresses.
IoTeX Name Service (INS) proposes to map human-readable names like “raullen.io” to lengthy crypto addresses, immensely simplifying the Web3 experience.
Similar to the Ethereum Name Service (ENS), INS allows users to register and manage human-readable domain names for their IoTeX addresses, smart contracts, decentralized websites, and other IoTeX-based resources.
As "everyone" eventually adopts a Web3 wallet, human-readable wallet addresses will be as commonplace as email addresses.
Community voting for IIP-22 is open until July 24, 2023 at 10:00 PM EST. Cast your vote on the IoTeX Governance Portal.
On the path to a seamless Web3 experience
The original Domain Name Service (DNS) of the 1980s made surfing the web easy; similarly, INS makes navigating the IoTeX ecosystem intuitive by replacing lengthy crypto domains with short, recognizable names.
INS is one of IoTeX’s many adaptations to simplify onboarding the masses to Web3. IIP-14 Account Abstraction, for example, breaks down technical barriers (like managing private keys and wallet addresses) when interacting with the blockchain.
Let’s take a look at the benefits of INS and how it will enhance the IoTeX experience, invite new users to Web3, and promote a collaborative ecosystem of builders.
Simple and customizable
Say goodbye to copying and pasting long addresses. Users can register and manage their own domain names, which means secure and decentralized transactions can take place without dealing with long and complex addresses.
A better user experience = a more welcoming Web3 environment for the less technically inclined.
Furthermore, INS gives users total ownership and control over their domain names and associated cryptocurrency addresses. Users have the flexibility to update or transfer their domains as needed, providing a sense of empowerment and autonomy.
Branding and discoverability
INS supports various top-level domains (TLDs) beyond the “.io” extension, allowing organizations to establish a memorable identity on blockchain to promote branding and help them stand out from the competition. Users can easily search and discover websites and services.
INS can also attract Web2 companies to have a Web3 presence by making it easier for them to reach their customers on the blockchain.
Decentralization and security
INS operates on the IoTeX blockchain, leveraging the decentralized nature of blockchain technology. This ensures that domain ownership and control (e.g. domain updating, selling, and transferring) are in the hands of the users themselves rather than centralized authorities like GoDaddy, Bluehost, or NameCheap.
INS provides a unified namespace across multiple dApps and blockchain platforms. This eliminates the need to remember different addresses for different services like ioPay, iotexscan, Account Abstraction wallets and various dApps.
Compatible now and in the future
INS can be integrated into popular wallets, exchanges, and decentralized applications, allowing seamless use of domain names across the Web3 landscape.
It is also designed to be future-proof – compatible with evolving blockchain technologies and standards. It can adapt to changes and upgrades in the IoTeX network, ensuring its longevity and relevance in the ever-changing blockchain landscape.
Fostering community and innovation
INS fosters a community-driven ecosystem where developers, organizations, and individuals can collaborate, build upon, and innovate using the INS infrastructure. This drives creativity and the development of new decentralized applications and services.
A robust and decentralized infrastructure
Built on the IoTeX blockchain, the INS system is made up of four main parts:
- The INS Registry is a single contract that serves as the core infrastructure of the IoTeX Name Service. It functions as a decentralized database that maintains the mapping between domain names and resolution to their corresponding IoTeX addresses or resources.
- Resolvers are smart contracts associated with individual INS names. They enable INS names to resolve to specific resources such as IoTeX addresses, decentralized websites, or content hashes and allow users to configure and update the settings associated with their INS names.
- Registrars act as intermediaries between users and the INS Registry. They facilitate the process of registering and managing INS names by allowing users to reserve, release, and transfer names securely. They typically implement additional rules, policies, and pricing structures that govern the registration of names within their specific TLD.
- Name Wrapper is a smart contract that will allow issuing subdomains (such as sub.domain.io) as separate Non-Fungible Tokens (NFTs). It is already possible to make and use subdomains, but they are not created as separate NFTs and can not be transferred between wallets, rented, or sold.
Together, the INS Registry, Resolvers, Registrars, and Name Wrapper form a robust infrastructure that powers the IoTeX Name Service ecosystem.
Whether it's simplifying transactions, enhancing user experiences, or supporting the growth of decentralized applications, INS plays a vital role in making the IoTeX ecosystem more accessible and intuitive for users worldwide.
Contribute to the improvement of the IoTeX network and cast your vote for IIP-22 today!