SAINT KITTS AND NEVIS, Jan. 14, 2021 (GLOBE NEWSWIRE) -- (via Blockchain Wire) Butterfly Protocol (www.butterflyprotocol.io) today announced the launch of its blockchain-based web naming system built for the decentralized internet. An immediate improvement, Butterfly Protocol provides an alternative to ICANN -- the centralized organization currently responsible for web naming databases and management of the domain name system (DNS) -- by offering a decentralized registry platform for top-level domains that can be purchased with cryptocurrency.
Under the control of ICANN, DNS and top-level domains are delegated to gatekeepers like GoDaddy, Google Domains, and Bluehost. With centralized control of the internet, censorship has become widespread, even in nations that purportedly support the freedom of information. Butterfly Protocol is part of the movement to confront this by building a decentralized internet.
Unlike the root name servers of ICANN’s centralized DNS, Butterfly Protocol’s Decentralized Autonomous Organization (DAO) allows anyone to suggest, sponsor, or bid on the creation of new Top-Level Domains (TLDs) and receive a share of tokens associated with the name, which they can use to create subdomains, or DApp ecosystems without third-party oversight. Beyond domain names, Butterfly allows for each domain address to be used for several unique functionalities, including cryptocurrency transactions, messaging, and social media.
“Private, secure alternatives for web browsing, search and messaging are quickly gaining traction. Decentralization is becoming more and more attainable, but still more tools are needed to make it a reality for the masses,” said Dana Farbo, President of Butterfly Protocol. “Butterfly offers a way to own, author and secure your data, giving users infinite control. Whether you want to own your personal domain forever, or you want to create an ecosystem of DApps, Butterfly gives you the framework and flexibility to do that.”
Showcasing the decentralized and censorship-resistant qualities of the Butterfly platform, early users can acquire a .HUMAN subdomain name which can be used to publish any type of content. No person or organization can block, censor, or cancel your subdomain. Butterfly will offer multiple clients: a browser extension to search for new domain names; a dedicated browser installed separately that always uses Butterfly, and a special DNS server that serves as a bridge to the decentralized web name system.
Beyond the .HUMAN domain, owners of the native Butterfly Protocol token, BFLY, will be sponsoring other domains such as .LEARN for lifelong learning management, .REPO for GitHub type repository DApps, .DEFI for decentralized exchanges and more. To learn more, click here.
About Butterfly Protocol
Butterfly Protocol is a blockchain-based web naming system built for the decentralized internet. Butterfly’s Decentralized Autonomous Organization offers a registry platform that allows people to purchase top-level domains using cryptocurrency in the form of its utility token, BFLY. Butterfly Protocol uses blockchain technology to create a system similar to ICANN without centralized control. Butterfly Protocol allows anyone to suggest, sponsor, or bid on the creation of new top-level domain names, and receive a share of the tokens associated with the name, which they can use to create subdomains and continue growing the decentralized web. Along with domain names, Butterfly allows for each domain address to be used for several unique functionalities, including cryptocurrency transactions, messaging, and social media.