You Can Now Assign Name To Your Bitcoin Cash Address - Bitcoin Cash (BCH) News. Tuesday, October 2nd
Bitcoin Cash Name Service (BCNS) assigns a name to your wallet address
The project aims to facilitate the exchange of deposit addresses with human-comprehensible names
A blockchain-based startup called Portal Network has just announced the development of a crypto solution that aims to facilitate the transfer of funds within the Bitcoin Cash (BCH) community. The name of the project is Bitcoin Cash Name Service (BCNS).
According to the developer, this is a service that basically turns an alphanumeric BCH address into a human-readable name with a .bch at the end of it. This way, such difficult address could become into something as easy to read as “Alicesmith.bch” – which is inevitably comparable to how DNS works for the Internet.
The concept is being worked on an Omni Layer protocol that enables them to use a smart contract. Since Bitcoin Cash has no native support for smart contracts – similarly to the IOTA Network – the devs stated that an Omni Layer would do the trick for the project. Addiotionally, this layer is tethered to an InterPlanetary File System (IPFS) hash and a BCH wallet address.
Another reason to specifically use Omni Layer as their gateway for this application comes from the relationship between this and Bitcoin. The team describe this as such:
“The relationship between the Omni Layer and Bitcoin is as HTTP to TCP/IP; Omni Layer is the fundamental transfer layer to the Bitcoin network. It is in charge of communicating with the Bitcoin blockchain on behalf of users, simplifying the process to do crowdfunding on Bitcoin Cash.”
Previous applications of this concept
This is not the first time someone tries to apply a user-friendly way to manage wallets address by linking them to a human-comprehensible phrase or name. Several attempts have been made on other blockchain protocols such as Bitcoin – which Bitdns and Bitalias – and Ethereum, with its ENS service that assign a name to an ETH addresses. An even earlier attempt to implement this concept was discussed back in 2010, and from that discussion, the Namecoin project was born.
The problem is, that the crypto community has been very reluctant to adopt these solutions. Nonetheless, Portal Network is willing to give it a try and prove it can be a key factor in the mass adoption of cryptocurrencies, with BCNS. At the moment, there is no release date for a commercial version of this service, but users are currently able to sign up via e-mail to pre-register a name.
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