Zoltan Vardai8 hours agoOrange Domains aims to expand Bitcoin Name System functionalityOrange Domains seeks to expand the use cases of BNS domains while creating more interconnectivity with traditional DNS-based domains.5165 Total views6 Total sharesListen to article 0:00AnnouncementOwn this piece of crypto historyCollect this article as NFTJoin us on social networksTrust Machines, a Bitcoin infrastructure development firm, announced the launch of a new entity, Orange Domains, which aims to expand the functionality of the Bitcoin Name System (BNS) through decentralized applications and to better connect thtraditional Domain Name System (DNS) with Web3 digital identity.
Today’s DNS-powered internet has no direct connectivity to modern blockchains. Orange Domains aims to create more interconnectivity by connecting traditional DNS addresses directly to Bitcoin-based BNS addresses, according to a March 4 press release shared with Cointelegraph.
The new Web3 domains will function as a nonfungible token, providing users with keys to their equivalent domains, enabling them to build websites, send emails, create smart contracts or manage finances from one blockchain-based domain.
The launch was announced nearly a week after Bitcoin breached $60,000 on Feb. 28 for the first time in over two years since its all-time high in November 2021.BTC/USD seven-day chart. Source:CoinMarketCap
Orange Domains was launched in partnership with internet services company Tucows, and Hiro, a firm focused on building Web3 developers tools bringing Web3 to Bitcoin. Trust Machines has previously raised $150 million in funding to build the largest ecosystem of Bitcoin applications.
The new entity will set a critical industry standard for domain names and Web3 identity, according to Dave Woroch, the CEO of Tucows Domains. Woroch wrote in the announcement:
“As a pioneer in the domains industry with 30 years of experience, Tucows is particularly well positioned to support this venture. We bring the DNS infrastructure, vital distribution channels, and critical industry expertise that will help Orange Domains bridge Web3 with the traditional internet experience of everyday users.”
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Orange Domains aims to expand the functionality of the BNS namespace built on Stacks, one of the leading Bitcoin layer-2 networks with smart contract functionality. Users can currently buy .btc Web3 identities on BNS, with registration finalized directly on the Bitcoin network.
Orange Domains will create a new paradigm for Web3 digital identity, according to Don Ruiz, general manager for Orange Domains. He wrote:
“BNS has risen within the crypto community, with over nearly 312,000 digital identities registered organically, as of the time of publishing. Orange Domains will be a major player in expanding the new economy of Bitcoin applications and add even more value to the Bitcoin and Web3 ecosystem.”
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