Bridging the gap between DNS and blockchain
What is blockchain?
An example of a third-party interference in a centralized system is the role banks play in financial transactions or corporations like Facebook in social networks.
Applications on the Ethereum blockchain platform run exactly as programmed without any chance of fraud, censorship or hacking.
Who is Ethereum?
Blockchain and DNS
If it looks like a domain and acts like a domain, is it a domain? Ethereum Name Service eliminated the need to copy and type long hexadecimal addresses to point to assets on blockchain with .ETH. Sounds similar to how domain names operate, right? Domain names eliminate the need for Internet users to memorize strings of numbers that make up IP addresses. Instead, the domain name system (DNS) points to IP addresses associated with words that give context and meaning to the kind of content visitors will find on a website. Although .ETH operates like a domain name it has not existed in DNS – until now.
Ethereum has partnered with the .LUXE domain registry to connect DNS and blockchain for the first time and created the backbone of a new type of Internet.
Ethereum is the first blockchain technology to be recognized by the domain name governing body ICANN. .LUXE domain is reinventing their mission and taking on a new exciting meaning in the crypto industry with “Let u exchange easily”. Users will be able to register .LUXE domain names to point to Ethereum wallets and smart contracts. Anyone who already has a .ETH will be able to secure the .LUXE equivalent in a Limited Registration Period of the .LUXE domain launch, before it hits general availability.
There is over $300 billion USD invested in cryptocurrency, with Ethereum being the 2nd most popular token.