XinFin selects Butterfly Protocol for XDC blockchain domain naming system

The blockchain domain registry system will be unique to the XDC blockchain and provide access to domains, tools, and support for decentralized application (dApp) developers...

Butterfly Protocol, a decentralized autonomous organization (DAO) building a decentralized naming system, and the XDC Network, announced this week that the Butterfly Protocol will be used for an XDC blockchain-specific domain system.

Created by XinFin, the XDC Network is an open-source, delegated proof of stake consensus network (XDPoS), which enables hybrid relay bridges, instant block finality, and interoperability with ISO 20022 financial messaging standards. About Butterfly Protocol

Through a grant from XinFin, a blockchain registry system will be created that allows developers and users of dApps to register domains and use a growing set of open-source tools to develop a standardized URL path to data and processes.

In addition, to access dApps built for the XDC blockchain, the initiative will create human-readable wallet naming and the opportunity to create single sign-on access across the dApp ecosystem.

“We are excited to be an XDC Network partner. The Butterfly Protocol will be used for creating blockchain top-level domains (bTLD); with a blockchain that is known for scalability, stability, and very low transaction costs. This advancement will accelerate decentralized web usage.”
– Dana Farbo, Partnership Lead for Butterfly Protocol

The XDC Network is an enterprise-ready, hybrid blockchain, and is well-positioned to bridge legacy systems with blockchain technology. Further, the XDC Network is EVM compatible, allowing interoperability with Ethereum, and advanced smart contract capabilities for various DeFi use-cases.

Blockchain Domains

Blockchain domains are gaining acceptance with a growing decentralized internet and distributed computing environment. Also, file storage is improving with hybrid cloud and local nodes; providing a more robust infrastructure to handle data-driven societies’ demands. A decentralized naming system allows for ease of use and access; while providing additional layers of security for fraud prevention.