press release
PRESS RELEASE. It truly is time to rejoice now that .btc domains have come to Bitcoin. BTCDomain is a user-friendly domain system built on Bitcoin that allows users to begin registering, trading, and searching .btc domain names. By combining Ordinals and Zero-Knowledge (ZK) technologies, they can securely store all of their metadata on the Bitcoin network while consistently maintaining the integrity of their domain registrar and resolver.
Why Are Blockchain Domains Important?
A domain serves as a symbol of an individual’s personal identity. The simplicity of using a.btc domain for transactions not only prevents transfer errors caused by complicated wallet addresses, but it also protects users from clipboard replacement attacks, which change wallet addresses during the copy-paste process and is one of the most common and recurring fraudulent acts.
A memorable domain name is also essential for effective marketing and brand awareness for businesses and brands. A distinctive domain name can therefore provide a significant competitive advantage for brands looking to stand out in an age of information overload. Put simply, a great domain name could potentially make all the difference in an age where online competition is at an all time high.
Storing Data On The Bitcoin Network
First and foremost, it is important to remember that the Bitcoin network does not support smart contracts. Bitcoin’s embedded programming language is Bitcoin Script, which allows for programmable payment functionality. However, it is not a Turing-complete programming language; its definition and functions are primarily intended for completing various payment scenarios and are incapable of handling more complicated business logic.
So, how does BTCDomain actually store data on the BTC network? The solution is to use ordinals technology. Ordinals distinguish these Satoshis by assigning sequential numbers to 1 BTC, which is equivalent to 100 million Satoshis. Satoshis can be assigned a stable identifier by using their sequence numbers. Ordinals refer to this “attachment” action as “inscribing,” which is similar to the process of minting Ethereum NFTs.
Moreover, because all inscription data is stored on the blockchain rather than on external storage such as IPFS or AWS S3, it is truly decentralized and preserved in the blockchain alongside all other Bitcoin transactions. To achieve this, .btc domains are inscribed as formatted JSON text onto the Bitcoin…
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