Butterfly protocol today announced the launch of its new distributed ledger blockchain-based web naming system designed for the decentralized internet to support distributed applications as an enhancement of the domain name system.
Internet DNS is currently under the control of the Internet Corporation for Assigned Names and Numbers, a US nonprofit organization. Its role is to manage several databases related to the namespaces that make the Internet work by resolving names such as “google.com” or “siliconangle.com” to Internet protocol numbers.
According to Butterfly, this channels domain management through controllers such as GoDaddy Inc., Google Domains, and BlueHost. In turn, this creates centralized control of the Internet and the potential for censorship.
Butterfly Protocol allows anyone to suggest, sponsor or bid on the creation of new top-level domains – beyond the standard “.com”, “.org”, “.edu” and others – and receive a part of the tokes associated with the Name. This can be used to create subdomains or Dapp ecosystems.
“Private and secure alternatives for browsing, searching and messaging the web are rapidly gaining traction,” said Dana Farbo, president of Butterfly Protocol. “Decentralization is becoming more and more achievable, but more tools are needed to make it a reality for the masses. “
Beyond registering and managing domain names, Butterfly Protocol will also allow each domain address to be used for several unique functions, including cryptocurrency transactions, messaging, and social media.
“Butterfly provides a way to own, create and secure your data, giving users infinite control,” Farbo said. “Whether you want to own your personal domain forever or want to create an ecosystem of DApps, Butterfly gives you the framework and the flexibility to do so. “
First-time users will have access to the “.human” subdomain name, which can be used to post any type of content. No person or organization can block, censor or cancel this subdomain.
At launch, Butterfly will offer multiple clients: a browser extension to look up new domain names, a separately installed dedicated browser that still uses Butterfly, and a special DNS server that acts as a gateway to the decentralized web-based name system.
Other examples of existing blockchain-based DNS include projects such as Namecoin and the Ethereum naming service. Although Butterfly has similarities with these other projects, unlike Namecoin, there is no need to renew domains once they are registered and it is possible to exchange and sell domains in the form of tokens. Butterfly also has similarities to ENS, but intends to expand top-level domains to include language-specific names and emojis.
Butterfly Protocol uses Ethereum for its initial environment, and owners are given a native currency, BFLY, which can be used to sponsor domains. Other such domains include “.learn” for lifelong learning management, “.repo” for the GitHub Dapps type repository, “.defi” for decentralized exchanges and more.