Major domain name registry Verisign, controlling the ‘.com’ and ‘.net’ domains, has acquired a blockchain-based patent.
On July 21 The United States Patent and Trademark Office (USPTO) granted patent number 10,721,060 to Verisign.
The new patent will definitely help in providing major benefits and technical advantages associated with registrants utilizing their domain name system (DNS) domain names in a blockchain network.
Verisign gets blockchain patent – Domain Name Wire | Domain Name News READ MORE: https://t.co/5arHWNg1kT#Bitcoin #blockchain #BTC #Crypto #cryptocurrency #decentralization #DistributedNetwork #Ethereum #FinTech #Ledger pic.twitter.com/ZLNQUjiOrB — IAM Platform (@IAM__Network) July 21, 2020
The ability to use domain names purchased through DNS within a blockchain space is now a possibility.
The registry will enable users to turn traditional domains into a “blockchain user address” while interact with other participants on the network.
Moreover, it will allow users to use domains as “their blockchain presence”:
“If a registrant owns example.com, they may wish to be able to use it as their blockchain user address. This enables a human friendly way to interact with other blockchain participants by using domain names as addresses instead of numbers […] it permits blockchain participants to utilize their web presence, e.g., example.com, as their blockchain presence.”
The patented techniques will include management of public and private keys through a DNS registry on the blockchain network as well as operating requests for the so-called “proof of registrar” records.
A blockchain network will receive and store data about the domain name and its connection with an existing blockchain user address for the registrant.
It can also enable secure two-factor identification by:
“consulting the blockchain for a given blockchain network.” while unlocking additional tools to verify user identity:
“For example, if a given address on a blockchain has an attached phone number or email address, those could be consulted on chain as a source to send a message to, to confirm proof of address ownership.”
Domain name industries are not completely new to the crypto and blockchain technology.
Crypto companies such as Unstoppable Domains and MyEtherWallet have been already collaborating to enable the crypto community to buy ‘.crypto’ domains that provides decentralized domains.
In March 2020, Opera became the first major browser to integrate the ‘.crypto’ domain extension.