SHOW ALL

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

TON Foundation releases domain names resembling the Ethereum Name Service

TON_Foundation_releases_domain_names_resembling_the_Ethereum_Name

The Open Network (TON) Foundation is the most recent cryptocurrency business to improve its ecosystem with domain names resembling Ethereum Name Service (ENS).

The debut of TON DNS, a new service that enables users to provide human-readable names to cryptocurrency wallets, smart contracts, and websites, was announced by the TON Foundation on Thursday.

Users will be able to access decentralized apps easily thanks to the “.ton” domain zone for the TON DNS, which is similar to other well-known crypto-related domain names like “.eth” or “.crypto.”

Users won’t have to type in a lengthy string of letters and numbers when using TON DNS since they may utilize short, easy-to-remember domain names.

In addition to serving as a nickname, a domain name created using TON DNS will also reveal a wallet address. Additionally, the TON Foundation intends to include its TON DNS technology into the TON Sites and TON Proxy products, which should debut in Q3 2022.

The release states that “a.ton domain name will be a welcome alternative to centralized domain registrars, which have the power to ban a website’s domain unilaterally.”

The foundation said that it would hold an auction for the first “.ton” domain names on July 30 in connection with the launch of the TON DNS. The TON Foundation said that the seven-day smart contract-based auction has been “planned to be as decentralized as possible, with equal conditions” for all participants.

Notably, coins generated from the sale of each domain will be taken from circulation and placed to a smart contract where they cannot be withdrawn, according to the release.

The integration of the TON Blockchain with mobile and wallet Telegram bots earlier this year is quickly followed by the deployment of the TON DNS. The Foundation said that the introduction of TON DNS will make it easier for users to interact with the TON blockchain and would further increase accessibility.

The Tonkeeper, TON Web Wallet, and Tonscan services have now incorporated TON DNS functionality, according to a June 30 statement.

The announcement was released immediately after the TON Foundation said that on June 28, all 5 billion Toncoin tokens have been mined. With the termination of Toncoin mining, TON’s distribution reached a significant turning point and entered a new phase as a completely proof-of-stake blockchain.

About Nicolle

She is an Indian Freelance writer. She loves thinking, learning, and writing about all things Web3.

SHARE:
Latest NFT News, Trendings and Tutorials, right in your inbox, every Monday

IMPORTANT DISCLAIMER: All content provided here in our website, hyperlinked sites, social media accounts and other platforms are for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them.

Recommended Posts

Leave a Reply

Your email address will not be published. Required fields are marked *