Ⓜ️ What is a BitInscription domain name? What are its features? What are its application scenarios? How can I get it for free? How can I purchase it?
Ⓜ️ 1. What is a domain name?
"Traditional domain name": (Domain Name) The address name of the website, referred to as the domain name, also known as the network domain. It is composed of letters, numbers and the hyphen "-", separated by a period "." in the middle, and is unique. Then the Domain Name System (DNS) will convert it into an IP address that is easy for the machine to identify and use for the address positioning of the website. In layman's terms, it is like your house number 1-1-007 (domain name). You ask the community property to enter your house number 1-1-007 into the community property system to form a unique binding relationship (domain name resolution). The takeaway brother sees the house number information you left on Meituan, finds your home based on the building information, and delivers a big meal!
「web3 domain name」: Using blockchain to power the DNS system removes power from selected management agencies, bringing anonymity, security, and control to domain name owners. In addition, it eliminates the possibility of censorship and serious network outages.
"Inscribed domain name": The so-called inscribed domain name is actually to engrave the domain name on the chain, following the basic principles of inscription: fairness and justice, first come first served!
The original intention of web3 domain name is decentralization. However, the so-called decentralized domain names such as ENS Domains, Unstoppable Domains, SPACE ID, etc. that are now everywhere are all false propositions. Most of the rights are still in the hands of some people, and true decentralization has not been achieved (some domain names are locked and cannot be registered, stored on centralized servers, and the domain name management agency is centralized, etc.), so the inscription domain name came into being!
Ⓜ️ 2. What are the characteristics of inscription domain names?
This article takes the leading BitInscription domain name as an example:
1️⃣ "Information on the chain": All information is stored on the chain, irreversible and cannot be tampered with;
2️⃣ "Decentralization": non-traditional reliance on domain name registrars or so-called DAO organizations;
3️⃣ "Fair and Just": First come, first served, all domain names can be registered at the same price, no reservation, no premium;
4️⃣ "One-time payment": Once minted, it belongs to you, no annual fee, no management fee;
Ⓜ️ 3. What are the application scenarios?
At present, the entire domain name ecosystem is actually very early, resulting in few application scenarios, but I firmly believe that this is only temporary! In my opinion, domain names have the following application scenarios:
1️⃣ "Collection": A domain name is actually a special NFT. A good domain name has a very high collection value;
2️⃣ "Transfer": Currently, the most widely used application is transfer, which avoids entering a long address every time, which is easy to make mistakes;
3️⃣ "Personal ID": One ID is universal in web3, including social networking, Web3 games, DAO voting governance, etc.;
4️⃣ "Information display": reputation, resume, social display, build your own exclusive page;
5️⃣「 Blog website 」: Build a decentralized website and enter the decentralized domain name to enter the website;
6️⃣ "Historical Imprint": According to the characteristics of decentralized domain names, all your operations on the decentralized network can be bound and recorded in real time;
Ⓜ️ 4. How to get it for free?
If you want to get your favorite domain name for free, you can follow the steps below (very simple tutorial):
Go to the Unisat website - Select Inscribe in the menu bar - Select the domain name option - Enter the domain name you want - Pay;
Website: https://unisat.io/inscribe
Ⓜ️ 5. How to buy?
I recommend two websites:
1️⃣ 「 unisat 」:https://unisat.io/market/names?dt=btc
2️⃣ 「 idclub 」：https://idclub.io/market/domain/btc
If you want to make a profit from the price difference, I personally recommend buying pure numeric domain names of .btc and .x with a length of less than 5 digits. The reasons are as follows:
1️⃣ .BTC consensus must be the strongest, no doubt about it;
2️⃣ .x domain name is the shortest and easiest to remember, no doubt about it;
3️⃣ The number of pure numbers below 5 is limited, and the price can be quantified (English domain names cannot be quantified, and the price depends on fate);
Ⓜ️ Don’t use your ignorance to deny the unknown. The only thing you can do is to learn more, think more, and improve your own cognition. I wish everyone a bright future!
Ⓜ️ Let’s study together, cheer together, and have fun together!
