GoDomains today announced the launch of blockchain-based domain registration services with .GO extension. With this, users would now be able to register domains like liz.go, enterprise.go, etc.
GoDomains deploys suites of smart contracts on the XDC blockchain, functioning as distributed, open, and extensible naming systems. Blockchain domain systems map human-readable names like “mike.go” or “xdc.go” to machine-readable identifiers for crypto wallets, digital identities, censorship-resistant websites, email, and metaverse storefronts. The Blockchain Domain works as a non-fungible token (NFTs). However, unlike traditional domain names controlled by centralised entities, blockchain domain names are custodied by their owner, with a separate public registry in the form of a smart contract.
A .GO domain extension provides a welcome alternative to the currently available list of domain extensions, which are more aligned towards native blockchain typos. GO Domains are easy-to-remember names resembling a short form of “global” ambition for their owners. Similar to the “.com” The latest fever in cryptocurrency markets has buyers scooping up blockchain domain names, which are being minted and sold as NFTs.
HOW DECENTRALISED ARE GO DOMAINS?
GoDomains are fully decentralised, because the registry smart contract lacks an administrator, only the domain owner(s) or someone with their permission may transfer or administer newly formed domains. The services are created using blockchain protocols and .GO domain addresses are hosted on the XDC Network.
Currently, in beta, GO Domain offers a host of attractive domain names that could be registered and resold at a later date. The invitation price for domain name registration starts with USD $ 10 worth of XDC Tokens. Based on the number of characters, the prices keep increasing. Currently, users can register domain names in 3, 4, and 5+ letter extensions for a limited period only.