Domain name registration company, Verisign, has been granted the patent to register domain names on blockchain technology.
Verisign just got a patent to secure its position as a blockchain-based domain name registrar. The company is known to be a leader for the ‘.com’ and ‘.net’ extensions.
The patent was given on July 21 by the U.S. Patent and Trademark Office (USPTO). The patent can be verified with the number, 10,721,060.
Domain names will serve as addresses
There are a couple of benefits to derive from Verisign’s domain names in a blockchain network. One is that such domain names can be used in a blockchain environment. Verisign said that even though their domain names are registered traditionally, they can be used as a user address on blockchain and therefore interact with others on the network.
Verisign’s domain names can now be used to perform blockchain activities:
“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.”
Improved security for accounts
Blockchain domain names are secured because Verisign would have every data about it recorded and this includes its connection. The security is also improved since the blockchain is contacted to authenticate a blockchain network. This improves security greatly:
“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.”
Crypto and blockchain technology have been used in time past to register domain names. ‘.crypto’ domain name extensions have been registered by Unstoppable Domains and MyEtherWallet and these two have been creating awareness since they started. Beginning from March this year, internet surfers started using Opera to search for websites that have the ‘.crypto’ extension.