Thetaboard presents Theta Name Service (TNS) for the domain extension .theta existing as smart contracts on the Theta Network.
Web 3.0 … is a leap forward to open, trustless and permissionless networks.
• ‘Open’ in that they are built from open source software built by an open and accessible community of developers and executed in full view of the world.
• ‘Trustless’ in that the network itself allows participants to interact publicly or privately without a trusted third party.
• ‘Permissionless’ in that anyone, both users and suppliers,can participate without authorisation from a governing body.
What is a website address?
A web address or URL, such as www.thetaboard.io, when entered into a browser, is translated by a Domain Name System (DNS) server into an IP address. From here, the information stored with that IP address is forwarded to your browser for you to access. DNS servers translate easily readable, and remembered, domain names into numerical IP addresses. As addresses, existing DNS addresses do a single job of pointing towards a web 2.0 IP address. DNS servers are behind closed walls and therefore limit what they can be used for, and by who.
What is a top-level domain?
Top-level domains are those domains in the root zone of the Domain Name System (DNS) of the Internet. These are maintained at the root zone database by the Internet Assigned Numbers Authority (IANA). There are approximately 1500 top-level domains in the root zone database, including .com, .net, .org, .gov as well as country level domains such as .uk, .us and .fr .
What is a blockchain domain?
The rise of technologies such as distributed ledgers and storage on blockchain will allow for data decentralization and create a transparent and secure environment, overtaking Web 2.0’s centralization, surveillance and exploitative advertising. Decentralized infrastructure and application platforms will displace centralized tech giants, and individuals will be able to rightfully own their data. (Silver, 2020)
Blockchain domains exist as a suite of smart contracts hosted on a public blockchain. Blockchain domains are just like NFTs, in that they are held within your wallet. If you lose your wallet keys, you lose control over the blockchain domains within that wallet. Blockchain domains have become popular over the last few years as the future role of decentralization becomes clearer.
With distributed ledger technology expected to play a central role in Web 3.0, they will provide possibilities such as hosting censor-proof content or being associated with self-sovereign identities in the next iteration of the web. There will be no need for the traditional 'gatekeepers' of information.
There is a single payment. No future renewal fees. No continual costs associated with the domain. They are one of a kind. There will only ever be one thomas.theta blockchain domain.
Blockchain domains are publicly hosted. The smart contracts can be read by anyone, so developers can work on top of those smart contracts to evolve the domain names and how they work into the future. Due to their open source nature, blockchain domains have great potential for different uses into the future. They are a naming service that can be applied to anything through further development. Future apps will be able to utilize blockchain domains to point to a variety of content, and control and access for the domains will always be in the hands of the wallet owner. The possibilities truly are endless.
The world of crypto has been at the forefront of blockchain domains. Crypto has been at the forefront of decentralized technology, and so have been first movers. However, many experts believe decentralization is at the heart of web 3.0, and Theta Network can play an important role in this future. One of the most common uses for blockchain domains at present is as a connection to your crypto wallet for easier user experience in transactions on blockchains. This is the initial use case for .theta TNS domains.
What is the .theta domain extension?
- The .theta domain extension exists on the Theta Network blockchain.
- Any domain is a TNT721, and can be traded, and sold as such.
- They are decentralized, meaning full control over that domain is associated with the wallet that holds it.
What are the use cases for the theta blockchain?
Once a user registers a domain, they will be able to "link" any address to this domain. It could be a wallet address, Guardian Node, Edge Node or even a smart contract. Initially, you will be able to assign the domain name to the wallet that holds the smart contract, or transfer to another wallet for a small gas fee.
Initial use cases include:
- No more copy and paste of addresses.
- Named nodes.
- Named addresses of smart contracts.
- Domain owners should be able to search for this wallet address using the domain name, instead of the wallet address. Eg: on https://thetaboard.io or on the https://explorer.thetatoken.org/
- Domains owners will be able to see more friendly names when looking at website that usually display an address: eg: https://guardianmonitor.io, or https://explorer.thetatoken.org/
- Domain owners will be able to more easily do transactions to another wallet, by instead of filling a wallet address, filling a user friendly domain name. eg: https://wallet.thetatoken.org, or https://thetaboard.io
Longer term use cases include:
- Connections between the .theta domain names and a IPFS hash to run a decentralized website will be supported. Files and websites are hosted across numerous nodes, so that centralized points of failure such as server issues are avoided. IPFS links point to content, not location, which may be hosted across nodes around the world. For example, Audius is using IPFS to host audio files. Similarly, when Edge Node storage on the Theta Network is introduced, it is anticipated this will be able to host content.
- Self-sovereign Identity using blockchain-based identifiers through domain names. Due to their open-source nature, blockchain domains' possible future use cases are not even yet conceived.
How will domains be integrated by third-party websites?
TNS domains are a one-off cost, with no renewal fee. They will be registered and purchased via Thetaboard using Metamask transactions. As seen in the accompanying video walkthrough, they require three steps with associated low gas fees. They are paid for in tfuel.
|# of letters||price|
|eight+ letters||100 tfuel|
|seven letters||150 tfuel|
|six letters||250 tfuel|
|five letters||500 tfuel|
|four letters||1000 tfuel|
|three letters||2500 tfuel|
|two letters||10,000 tfuel|
BENEFITS OF TNS ON THETA BLOCKCHAIN
- The potential for future connection between .theta domain extensions and hosting decentralized websites, or any content really, on the Theta Edge Node Network is exciting. Edge nodes on theta create a fully decentralized network for data delivery, edge computing, and storage planning.
- Theta Network utilizes a proof-of-stake (POS) governance, requiring less energy than existing proof-of-work (POW) blockchains. Hosting content for Web 3.0 on POS makes sense.
- Low gas fees of the Theta blockchain.
- The future role of Theta blockchain and edge network within the entertainment industry makes .theta domain extensions and connection to the world of entertainment a perfect fit.
- Importance of video/AR/VR in all forms of entertainment and marketing in the future web 3.0. Theta Network will be central to this. A .theta blockchain domain extension will reside within the same ecosystem as this infrastructure.
- Audit of the TNS smart contracts.
- Release to mainnet (currently running on testnet).
- Launch TNS domain self-creation with price based on character length.
- Launch TNS with auctions for popular names.
- Secondary marketplace, including TNS trading.
- Theta wallet integration of TNS for transfers.
- TNS contracts: https://github.com/thetaboard-org/smart_contracts_core