With the advent of Bitcoin, people found there are new ways to do finance. The technology behind Bitcoin is the blockchain that provides decentralized ledger for users, so they don’t have to rely on trusted third parties, like banks, to transfer money between strangers. But the power of the blockchain and Bitcoin system is not only limited to money.
We believe we can use blockchain technology and Bitcoin system to reInvent the Internet, starting from the basic infrastructure — domain names.
What is wrong with traditional domains?
The traditional domain system is quite outdated. It’s designed in the 1980s, at the very beginning of the internet. It uses a centralized design, a chain of servers to resolve domain names. There are a lot of problems with that, for example,
- It’s not safe. There are many DNS breaches happened in the past and unlikely to stop in the future.
- It’s slow. Since resolve a traditional domain involves a chain of servers, any server in the chain can slow down the whole process. No matter how fast your connection is, if DNS is slow, your web browsing speed will be slow.
- It does not belong to users. Users actually ‘ RENT ’ the domain name from top domain companies. Once you failed to pay the ‘ Rent ’, you lose your domain.
How NBdomain fix these issues?
NBdomain is built on blockchain ( more specifically, BSV blockchain ). It uses a decentralized design. The domain information saved on the blockchain will be automatically saved on all Bitcoin nodes around the world. With this design, it not only fixes the old domain system but provides new features that do not exist with traditional domains.
- It’s super secure. The Bitcoin system has been running for over 10 years without any security breaches. Domain information saved on BSV will automatically enjoy this highly secured system.
- It’s fast. Since all information is saved on Bitcoin nodes. The resolving process of the domain could happen with only ONE query. Users also have the freedom to choose from different nodes, so he can connect to the fastest one.
- It can prove the ownership mathematically. Every transaction on the blockchain is signed by the sender, using his/her private key. And people can prove their ownership of it. By saving domain information on the blockchain, people can easily prove the ownership of domain information as well.
- It’s super extendable. One feature of the public blockchain system is that all data save on blockchain are accessible from all over the world. By saving domain information on the blockchain, NBdomain has enabled easy collaboration, permission-less development as well.
- … and more to come
We believe the next generation internet must be something that empowers individuals, gives power back to users instead of big companies, information is secure by default, and with super speed. We at NBdomain are building the base infrastructures of the next Internet.
The alpha test has started, please join us.
