On security perspective, BNS is more secure, free of hack and temper proof compared to the existing seemingly perfect network. The upcoming web 3.0 evolution is trying to clear the threat of losing privacy and freedom in the overly centralized web 2.0 through utilizing peer to peer protocols such as distributed storage, computing and networking resources, in the hope of giving the rights of personal data and privacy back to each individual.

On user perspective, BNS solves the identity problem in this new internet that involves many meaningless hash. By empowering users to have human readable names, BNS plays an important role that closes the gap between users and the technology, therefore, is often considered as the solution that will foster the rise of dApps, wallets, platforms and cryptocurrency. The effort of integrating DNS (.luxe and .xyz) into ENS may sounds complicated but definitely promising, and the idea of “your webpage becomes your bank account” is going to be an essential milestone towards the modern token economy.

DNS / BNS comparison

Apart from this, BNS brings breakthrough transitions to the next-generation with its multifaceted use features. In fact, starting with Namecoin, more and more projects are participating in the development of BNS applications.

Namecoin

“Bitcoin frees money - Namecoin frees DNS, identities, and other technologies.”

Namecoin is considered Bitcoin’s first innovation altcoin. In other words, this is the very first application of on the Bitcoin blockchain. Compared to other cryptocurrencies, it has a higher ideal to establish a decentralized DNS. It offers the solution to Zooko’s Triangle by providing a naming system that is simultaneously secure and human-meaningful. Based on the blockchain technology, BNS records are ensured not to be tampered with, and synchronizes the changing information more efficiently across the network.

Handshake

The goal for Handshake is to become ICANN but in a decentralized manner.The consensus protocol based on Bitcoin blockchain allows root zone file maintained distributed and permissionless. Instead of having a central server to manage and update DNS like ICANN, every node of Handshake is a root server integrates all BNS top-level domains information. It also replaces the CA entities we have today by giving the owner of the name a cryptographic key. Besides, users can purchase a top-level domain now in a transparent auction process through its collaboration with Namebase.

Blockstack

Blockstack is the new decentralized internet where users can fully control data and applications. A Blockstack ID is a BNS that represents a user’s identity and password and users’ personal data and storage are built around it. While Blockstack is established on top of the Bitcoin blockchain, it offers a cross-chain transaction that supports ETH.

ENS

Ethereum Name Service (ENS) is an identifier of Ethereum addresses, content hashes, and metadata. Basically, ENS domains eliminate the need to copy and paste long arbitrary addresses and the potential for human errors when making transactions. It proposes a readable text that can be pointed to related resources. Corresponding applications are developed on Ethereum blockchain to trade and manage domains such as to create subdomains for any other usages. The members of the Ethereum development community own the ENS root by a multi-signature. If they decide to join the TLD market someday, they will become the biggest competitor to Handshake / Namebase.

IOV

IOV empowers end-users to take advantages of the blockchain by making the exchange of values a simple and easy process. It binds the easy-to-remember domain name with the crypto wallet to avoid human errors while transferring tokens. Cross-chain solution is provided in one wallet as long as chains implement the IOV specification. The vision is to have a directory of all active blockchains, tokens, bootstrap nodes, and eventually become a universal wallet.

Portal Network

Portal Network solves the problem of user adoption, complexity, human error and lack of interoperability by deploying BNS standard across multiple blockchain protocols, such as WNS (Wanchain Name Service) for Wanchain, INS (ICONick Name Service). They work closely with each protocols to maintain and manage them. This approach allows Portal Network and each protocols share resources and users base across multiple blockchain. Portal Network’s BNS standard also explores potential implementation on other blockchain projects, such as Cryptokitties. BNS empowers each project to have uniquely identifiable domain name that can be easily interact with. They also provide other BNS related services for both technical and non-technical users.