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Cryptocurrencies are becoming more and more present in everyday life, for this very simple reason there is a need for simpler and more intuitive ways to interact with our digital wallets. This is why Bitcoin Name Service (BNS) was created, an innovative service that is transforming the way we use Bitcoin. BNS allows users to connect their Web3 wallet to an easy-to-remember .btc domain name, eliminating the need for long and complicated addresses that are difficult to remember, or easy to make mistakes when entering them. This blog will walk you through the basics of BNS, explain how .btc domains work, and provide you with helpful tips on how you can get your own .btc domain.
Source: cointelgraph
What is Bitcoin Name Service?
Bitcoin Name Service (BNS) represents a revolutionary step in the world of cryptocurrencies, what it offers is a decentralized database of names that is secured on the Bitcoin blockchain. This service allows users to register Web3 usernames through the Stacks platform, creating a bridge between human language and the complex world of crypto addresses. BNS acts as a directory for Web3, providing a clear mapping between readable names like “unchained.btc” and corresponding alphanumeric wallet addresses. Similar to how the Web2 Domain System (DNS) allows for easy search and access to websites, BNS offers an interface for buying, registering, managing, and searching .btc domains. In short, this means that you can replace your long and incomprehensible Bitcoin address with something simple like “kriptomat.btc”. However, unlike centralized DNS, BNS relies on a peer-to-peer network of servers, making it more secure and censorship-resistant. The names that BNS provides are universally unique, easy to understand by humans, and allow for strong domain ownership. By leveraging the security and resilience of the Bitcoin network, BNS enhances the user experience within the Stacks ecosystem, allowing users to not only send and receive STX, but also interact with tokens and NFTs that are based on Stacks. This system opens the door to simpler and more secure Web3 communication, and lays the foundations for the future of digital interaction.
Source: cointelegraph
How do .btc domains work?
.btc domains are an innovative addition to the Bitcoin blockchain, as they provide users with the ability to register unique names that are stored on the Bitcoin network as NFTs. These domains are managed through the Bitcoin Name Service (BNS) and registered using smart contracts on the Stacks platform. Thanks to its integration with Bitcoin’s security features and the use of the Clarity language for smart contracts, BNS creates a decentralized name registry that is secure and tamper-proof. Each .btc name has its own unique hash written on the Bitcoin blockchain, which ensures transparency and undisputed ownership. In addition, each domain and subdomain has its own Decentralized Identifiers (DIDs), which serve as persistent identifiers for public keys and enable compatibility with other systems that use DIDs. The registration of a .btc domain is done by transacting with a BNS smart contract on Stacks, thus ensuring that all BNS domains are synchronized and replicated, that is, stored on all Stacks nodes globally. This process not only simplifies the management of digital identities, but also encourages greater security and decentralization.
Source: cointelegraph
How to buy a .btc domain?
Before you buy a .btc domain, you’ll need a wallet that supports .btc domains, such as Hiro Wallet or Xverse. Also, you will need STX in your wallet to buy a Bitcoin domain on BNS. New domains cost 2 STXs. These costs do not include transaction fees, so expect to need a little more than 2 STXs. You can buy STX at an exchange and send it to your Stacks-compatible wallet. The steps to buy a Bitcoin domain are as follows;
Source: cointelegraph
Search for a .btc domain
Go to btc.us and type the name you want to register in the search bar on the homepage. A pop-up window will appear telling you if the name is available, what the prices are in STX, and how long you’ll have it (5 years for 2 STX).
Source: cointelegraph
Create an account
Once you have confirmed that the name is available, you need to create a Stacks account linked to Bitcoin to start your purchase. Connect your Stacks-compatible wallet to the website to sign up.
Source: cointelegraph
Finalize your domain purchase
When you log in, you will receive a prompt to purchase the .btc domain you have chosen. Submit 2 STXs, and you will be entitled to the domain for five years. The transaction will involve a small transaction fee. Once the transaction is complete, the Bitcoin domain name will appear in your Stacks wallet.
