Key Points
- Bitcoin infrastructure firm Trust Machines has launched Orange Domains to expand Bitcoin Name System (BNS) functionality.
- Orange Domains will connect the traditional Domain Name System (DNS) with Web3 digital identity, creating more blockchain interconnectivity.
Trust Machines, a company focused on Bitcoin infrastructure development, has introduced a new entity named Orange Domains. The primary objective of this venture is to enhance the functionality of the Bitcoin Name System (BNS) via decentralized applications and to establish a stronger link between the traditional Domain Name System (DNS) and Web3 digital identity.
DNS and Blockchain Interconnectivity
The current internet, powered by DNS, lacks a direct connection to contemporary blockchains. Orange Domains plans to bridge this gap by linking traditional DNS addresses directly to Bitcoin-based BNS addresses. This approach is set to foster more interconnectivity between the two systems.
Web3 domains, under the new system, will operate as a nonfungible token. This setup will give users keys to their corresponding domains, allowing them to construct websites, send emails, create smart contracts or manage finances from a single blockchain-based domain.
Partnerships and Future Plans
The launch of Orange Domains comes after Bitcoin surpassed $60,000 on February 28, marking the first time in over two years since its peak in November 2021. The initiative was launched in collaboration with internet services company Tucows and Hiro, a company dedicated to developing Web3 tools for Bitcoin. Trust Machines has already secured $150 million in funding to establish the largest ecosystem of Bitcoin applications.
Orange Domains intends to set an essential industry standard for domain names and Web3 identity, according to Tucows Domains CEO Dave Woroch. He stated that Tucows, with its 30 years of experience in the domain industry, is well-positioned to support this venture. The company brings DNS infrastructure, vital distribution channels, and critical industry expertise to help Orange Domains connect Web3 with the traditional internet experience.
Orange Domains will also expand the functionality of the BNS namespace built on Stacks, a leading Bitcoin layer-2 network with smart contract functionality. Currently, users can purchase .btc Web3 identities on BNS, with registration finalized directly on the Bitcoin network.
Orange Domains is set to create a new paradigm for Web3 digital identity, according to its general manager, Don Ruiz. He mentioned that BNS has gained popularity within the crypto community, with nearly 312,000 digital identities registered organically. Orange Domains is expected to play a significant role in expanding the new economy of Bitcoin applications and adding even more value to the Bitcoin and Web3 ecosystem.
