Meet the “Bitcoin of DNS” – .BIT, The Decentralized gTLD

.Bit Domains

CoinTelegraph ran an interesting interview with the founder of .BIT which is branding itself as the Bitcoin of DNS, in essence a de-centralized domain extension that is run on the blockchain network.

GetDotBit allows for easy purchase of .bit domain names. The extension .bit is similar to .com, except it runs on a blockchain network. It’s the Bitcoin of DNS [domain name system]. (Source – CoinTelegraph)

.BIT was launched on April 23rd and since then 700 domains have been launched with ~30 websites now live on .BIT domains.

.bit is tricky to set up. There are less than 30 actual websites built on the .bit TLD [top-level domain]. We’ve got 707 domains registered, and 698 users. (.BIT Founder – Daniel Ternyak)

Ternyak, the owner of .BIT is the founder of NameCoin, a decentralized information registration and transfer system based on the Bitcoin cryptocurrency.

Okay, so right now you might be asking yourself, “what the heck is going on, I’m confused.” Agreed…it is pretty darn confusing at this point, however if you look a bit deeper you will find something that could be a new trend, technology based on the very decentralized system and basis that made Bitcoin take-off like a rocketship.

Sure Daniel could be way out in left field, or he could be ahead of his time. Only time will tell, for now I do have to say that .BIT is definitely doing things differently and I’m a fan of any person or business who is willing to dare to do things differently.

What do you think? Comment and let your voice be heard!

{ 5 comments… add one }

  • daniel ternyak May 11, 2015, 9:10 pm

    Hi,

    Thanks for the article. I’ve been reading this blog for a long time, I used to be somewhat of a domainer.

    Small correction, I am not the owner of .bit itself. It is a decentralized TLD, there is no owner. I am however the owner of http://www.getdotbit.com, which is a registrar for .bit.

    Regards,

    Daneil

    Reply
    • Morgan May 12, 2015, 8:00 am

      @Daniel – thanks for commenting and for clearing that up, I will update the post right now. Quick question, from my understanding someone (or some company) has to own a gTLD, was there an entity that purchased .BIT?

      Reply
  • Michael May 12, 2015, 6:33 am

    Okay I got my free .bit domain! moviestar.bit but now I don’t know what to do!

    Reply
  • daniel May 12, 2015, 9:52 pm

    @Morgan For someone to own a .bit domain name, you need to purchase Namecoin, and then spend that namecoin in the same way you spend Bitcoin to register the domain name.

    Reply
    • Morgan May 15, 2015, 6:25 pm

      Thanks for clarifying @Daniel!

      Reply

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