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I've posted some ideas here: http://news.ycombinator.com/item?id=1954992 http://news.ycombinator.com/item?id=1954992 The Bitcoin approach that I've mentioned l
by gst 16y ago
I've posted some ideas here: http://news.ycombinator.com/item?id=1954992 http://news.ycombinator.com/item?id=1954992
The Bitcoin approach that I've mentioned looks basically like the following:
Basically, you use Bitcoin's block chain described here: http://www.bitcoin.org/wiki/doku.php?id=block_chain http://www.bitcoin.org/wiki/doku.php?id=block_chain However, instead of using the chain for monetary transactions, you store new domain registrations in each individual block.
Now you just need a mechanism to fend off the domain squatters. Again, we can use an approach similar to Bitcoin (and to Hashcash): If you want to store your registration in a block you need to "pay" for this with some CPU power. So if you want to register a given domain you need to calculate SHA-256(domainname + data), where data is chosen in a way that the first X bits of the resulting hash are zero. So basically you need to use a brute-force mechanism to find appropriate data. If it, e.g., takes on average 1 week to find this data, this is acceptable for an individual who wants to register a domain, but (hopefully) too expensive for a squatter.
However one problem with this approach is that there's no incentive for someone to participate in the block generation. In bitcoin participation gives you Bitcoins which have a real monetary value. But I think creating some incentive shouldn't be too hard. E.g., it should be possible to couple the block chain to Bitcoin, so that generating blocks for the secure domain system also gives you Bitcoins (as a side effect).
- mortimor 16y agoThe incentive that has been proposed by BitDNS is that awarding blocks is equivalent to registering domains. So using the current protocol of awarding 50 bitcoins for every block generation would translate to awarding 50 name registrations. Plenty of incentive for early adopters to build a strong network.
- narrator 16y agoYou could also use bitcoins to buy access to restricted torrents and to get leach credit on p2p sites as well as to pay opennic dns providers.