Tezos News Today – Headlines for June 6

  • Tezos set to launch domain names like Ethereum
  • Tezos may launch human-readable addresses soon
  • The addresses will be attached to regular wallets

Tezos News Today – Tezos is set to introduce vanity addresses. The network drew inspiration from the Ethereum Blockchain. Tezos might soon support domain names along with human-readable addresses. The network is considering the plan thanks to a new proposal issued by the Blockchain community.

The move will ensure that usability, is comparable to regular email addresses or site domains. It will surely improve the network. By doing this, Tezos has bought an idea already implemented by Ethereum. There are also other Blockchain-based name services out there including those built for Namecoin, NEO, and Zilliqa. Ethereum also offers support for other name services, including  Unstoppable Domains.

How Will Tezos Domains Function?

The leader of the Tezos Domains project, Miroslav Bodeček in an introductory article earlier this week explained the primary objective of the project. According to Bodecek, standard Blockchain addresses block the practical use of the Tezos (TRX) token as a currency. Because they can’t be easily read, communicated, or memorized. The Blockchain name services tackle this issue by attaching human-readable addresses to standard addresses. For example, users can replace addresses like tz1VSU…jcjb with addresses like Alice.tez after Tezos names have been introduced.

Simpler names will make it easier for users to move their Tezos tokens. Developers could attach names to the smart contracts, which will make it less difficult for dApps to discover and mingle with the contracts. Blockchain names have been challenging to put into play, they are an essential step forward if the network has to be made easy to use (just as it is with regular email addresses or site domain names).

Further Details About the Initiative

Bodeček said the proposal is the early draft stage. Meaning, there isn’t any guarantee that the feature will launch on Tezos. Even if it does, it might change significantly. Plans have been put in place to sell names in an open auction during which bidding will be known to the public. Each bid must be higher than the one before. Domain names that have expired will be sold. The team plans to prevent phishing attacks. This is why Tezos’ names will support limited characters initially (these characters will exclude lookalikes).

Expanded Unicode support might arrive in the future. The team will also work on a smart contract designed to coordinate the service, an in-browser app that offers name lookups, and a lightweight indexer. Several other Blockchain networks have name services as well. The most notable of them all is the Ethereum Name Service. This service had been integrated with different services including Opera, MetaMask, and Coinbase Wallet. At press time, there are 274,000 ENS names

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.


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