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Binance Name Service

Link every user in the Web3 world, Binance Name Service is the decentralized domain name system

About Binance Name Service:

Web3 is a new world based on users’ personal characteristics, and users themselves are the most important blockchain nodes. BNS (Binance Name Service) aims to build a brand-new platform to link every user in the Web3 world so that BSC chain users can become the new growth engine of Web3, and beneficiaries. A decentralized domain name system is undoubtedly the infrastructure to achieve this. Similar to the popular NFT, a domain name has its unique and scarce value, and can become the user’s personal identity.

The core goal of BNS is to “resolve simple human-readable domain names into blockchain address”. For example, a domain name“ moon.bsc” will be resolved to your BSC blockchain address (0xbb************). We hope that anyone can use the BSC address to register one or more domain names to achieve “single sign-on” for personal accounts in Web3 world.

BNS will enable and enhance all user scenarios in BSC application layer, for example, allowing BSC users to see their personalized short readable domain names in transaction records in the NFT trading market, rather than long wallet addresses. Users can use their own web3 names in decentralized games to interact with their web3 friends. Users can see their own short domain names in all K-line scenarios in the trading market, and even discover the short domain names of friends, to realize the social attributes of domain names. BNS will eventually enable the decentralized application scenarios and the mainstream exchange trading scenarios and display your BSC domain name on the Binance browser as well.

Five core values ​​of BNS (Binance Name Service) ecosystem:

1. Web3 Identity: Identify users in a human-readable way.
In Web3, ownership and control are decentralized. Users and builders enjoy Web3 Internet services by holding tokens, i.e., blockchain addresses. Token does not quite represent a unique internet identifier like an internet user, it’s more like a string of random characters. The vision of BNS is to form personalized permanent records (domain name) of all the experiences, achievements, and interests of a person. Users can control their own identities so that they can be used safely.

2. NFT:
Exclusive domain names are intangible assets for individuals and even communities.Brands such as Budweiser and Puma have already registered exclusive brand domain names on Ethereum. The price of four-digit Ethereum short domain names are approximately between 1–10 ETHs. Domain names are the same non-fungible token as NFTs, and their value increases over time significantly.

3. Strong social attributes:
users can transfer funds and assets with domain names and meanwhile build and strengthen social relationships.The vision of BNS is to form personalized permanent records (domain name) of all the experiences, achievements, and interests of a person. Users can control their own identities so that they can be used safely.

4. Build user + community: BNS will build an ecosystem for user + community, which will be part of the larger BSC ecosystem, thus promoting Web3 together.
After expansion to multiple user scenarios, BNS will be displaying user-specific domain names on multiple platforms, so the image of a person in Web3 will be much closer to the person in real life. It will be much easier to identify property, achievements, and works belonging to that short domain name, and thus the Web3 users behind this short domain names, all of which do not need to be proved by on-chain interactions.

5. Binance ecosystem value: BNS domain name creates three scenarios:
personalized, auctionable, executable. Personalization is equivalent to PFP, reflecting the significance of the owner‘s personal value. Auctionability reflects the liquidity properties of domain names, endows data services with financial value, and enables personal data liquidity. Executability means that BNS itself is a hardcore and real requirement for Web3 users.

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