Orange Domains has revealed ambitious intentions to enhance the Bitcoin Name System (BNS) capabilities to revolutionize its functioning and increase interconnection within the digital ecosystem. In a press release distributed to Cointelegraph on March 4, Orange Domains stated that their goal is to close the gap between conventional DNS and Bitcoin-based BNS addresses.
Built on the Bitcoin blockchain, the Bitcoin Name System, or BNS, is a decentralized name system. It makes transactions more accessible and user-friendly by enabling users to give Bitcoin address names that humans can read.
The company hopes to improve the general usability and functionality of the BNS ecosystem by streamlining the process of gaining access to Bitcoin-based services and applications. Orange Domain was introduced with Tucows, an internet services firm, and Hiro, a web3 development tool company. The report says that Orange is partnering with these companies to bring Bitcoin closer to the Web3 space.
Trust Machines Joins the Innovation in the Bitcoin Name System
The company has explained that this will be the new opportunity for smooth communication between the two domains, making it simple for consumers to switch between conventional websites and blockchain-based services.
The news from Orange Domains coincides with increased funding and interest in creating infrastructure and applications for Bitcoin. As pioneer in the field, Trust Machines says it has already raised $150 million to create the biggest network of Bitcoin apps.
With the backing of important players such as Trust Machines, Orange Domains is in a strong position to promote innovation and uptake in the Bitcoin Name System. The company is looking to build a more integrated digital environment where blockchain-based systems and traditional web addresses work together seamlessly by enhancing the functionality of the BNS ecosystem.
Ethereum Name Service Warms up, Orange Domains Works on TLDs
Orange Domains says it is also expanding its reach in the Bitcoin Name Service (BNS) domain name sector built on Stacks. Using smart contract features, stacks have been named one of the top Bitcoin layer-2 networks. When completed, users can decide to purchase a .btc domain in the web3 space while on the BNS.
This is expected to happen after the complete registration is done directly via the Bitcoin network. This launch is coming at a time when the BTC has crossed the $60,000 price mark for the first time in 2 years. The report also states that Bitcoin’s closest competitor, Ethereum, is planning a similar event with its Ethereum Name Service.
Information gathered so far says this project will allow these domain names to multiply cryptocurrency wallet addresses. Orange Domains says the most important part of the project is the effort to launch top-level Domains (TLDs) designed especially for Web3 purposes. Ethereum domain project is a bit different from the Bitcoins’, as it is working to compliment to the .box web3 TLDs and the proposed .vana domains which are also designed to introduce web3 functionalities into the domain name industry.
Tucows Domains CEO Comments, Assures Users of Quality Outcome
According to the Tucows Domains CEO, Dave Woroch, the new product, when completed, is believed to set a standard in the industry regarding Web3 identity and domain names. In an official announcement, Dave said that his company is working as the forebearers of the online domain industry, considering their 30-year experience on the job.
The CEO also said that his company is bringing the DNS facility, important distribution channels, and major industry products that will facilitate Orange Domains’ smooth and fast transition into the web3 stage, using the conventional experience of an average internet user.
In his statement, the Orange Domains general manager, Don Ruiz, believes that the introduction of Orange Domains will bring about a new shift in the Web3 identity space. He added that the BNS has grown among the cryptocurrency community, recording more than 312,000 online identities organically registered at press time.
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