A domain in Everscale is not just a name for an account address, but a useful tool that simplifies transactions and enhances security on the blockchain. So, what can a domain in Everscale do? Let’s explore its key features in this article.
What is Everscale?
Everscale is an advanced Layer 1 blockchain platform built on the EverOS framework, officially launched on May 7, 2020. This platform utilizes technology from TON (The Open Network), a blockchain project initially developed by the Telegram team. By adopting TON’s technology, Everscale has been able to save time and costs during development while benefiting from the standout features of the TON blockchain, such as scalability and superior performance.
Everscale’s core goal is to improve system performance and scalability, ensuring that decentralized applications (dApps) run smoothly and efficiently on the blockchain. Using sharding technology, Everscale can process millions of transactions per second without experiencing network congestion, providing a stable and fast environment for transactions.
In addition to performance optimization, Everscale also aims to provide security solutions, reduce transaction costs, and optimize processing speeds for businesses. This makes Everscale a reliable platform for applications and companies that require a scalable, secure, and efficient blockchain system.
What is a Domain in Everscale?
A domain in Everscale is a decentralized domain name system (DNS) that operates on the blockchain. Unlike traditional domain name systems (DNS), where you must register a domain through intermediaries and adhere to their management rules, domains in Everscale are entirely managed by the user community, with no intervention from any authorities. This offers a higher level of security and control for users.
When using a domain in Everscale, you don’t need to remember long and complex blockchain account addresses. Instead, you can use a short, easy-to-remember domain name, simplifying transactions. Each domain in Everscale can be linked to a specific wallet or blockchain account, just as domain names on the Internet help identify website addresses.
Domains in Everscale are managed through dApps (decentralized applications), enabling users to easily register, manage, and modify their domains via the EVER Wallet. These features not only make transactions on Everscale easier but also enhance security by replacing long account addresses with easily identifiable domain names.
What can a Domain in Everscale do?
A domain in Everscale offers numerous benefits and unique features for users. From replacing complex account addresses to participating in profit-making activities by selling domains, a domain in Everscale is not only an account management tool but also plays a significant role in optimizing the user experience on the blockchain. Here are the key features a domain in Everscale can offer:
Replacing complex account addresses
One of the most prominent features of a domain in Everscale is its ability to replace long and complicated blockchain wallet addresses with easy-to-remember domain names. Instead of entering a lengthy string of characters during transactions, you can simply use your registered domain name. This minimizes errors and makes the transaction process faster and more accurate.
This feature is particularly useful for those using digital wallets or frequently engaging in transactions. Using a domain also saves time and helps avoid unnecessary issues when inputting account addresses.
Easier account management
Domains in Everscale are not only tools for transactions but also facilitate easier and more efficient account management. You can easily change account settings, send and receive funds, and track transactions directly through dApps without needing to re-enter complex information.
Moreover, using EVER Wallet to manage domains helps protect your account from risks like fraud or hacking. This feature adds an extra layer of security for transactions on the Everscale platform.
Domain auction
One of the exciting opportunities provided by Everscale’s domain system is the ability to auction domains. If you own a valuable, easy-to-remember domain, you can sell it to someone else through online auctions. This allows you to make a profit from the domain you own.
Participating in the domain auction market not only offers financial benefits but also opens up opportunities for investors to find potential domains for use or resale in the future.
Creating subdomains
Everscale also allows users to create subdomains, helping manage different accounts or services. For example, you can have a main domain like yourname.everscale and create additional subdomains like service1.yourname.everscale and service2.yourname.everscale to organize your accounts and services. This makes management easier and more organized.
The ability to create subdomains is especially beneficial for businesses or individuals who own multiple accounts and need to separate various services or applications under a single main domain.
Reverse address lookup
Everscale domains also feature a reverse lookup function, allowing you to search for a domain corresponding to a specific account address. If you know an account address but not its associated domain, the reverse lookup feature will help you identify the linked domain, ensuring transaction verification and accuracy.
In conclusion, what can a domain in Everscale do? It is not only a useful tool for managing accounts and transactions on the blockchain but also provides powerful features like domain auctions, subdomain creation, and reverse address lookup. With all these benefits, owning and using a domain in Everscale will help optimize transactions, enhance security, and open up new opportunities in the blockchain space.
We hope this article has provided you with a better understanding of Everscale and answered the question: “What can a domain in Everscale do?” Be sure to continue following Blockchain Bulletin Weekly to stay updated with more useful information and knowledge about blockchain technology and the investment market every day.