The Open Network Foundation (TON) is the latest cryptocurrency company to upgrade its ecosystem with Ethereum Name Service (ENS)-like domain names.
The TON Foundation on Thursday announced the launch of TON DNS, a new service that allows users to assign human-readable names to crypto wallets, smart contracts and websites.
Similar to other popular crypto-related domain names like “.eth” or “.crypto”, the domain zone for TON DNS is “.ton” and will allow users to access decentralized applications in an easy way.
With TON DNS, users will be able to use simple and short domain names instead of typing a long string of letters and numbers.
A domain name created using TON DNS will not only work as a nickname but also unlock a wallet address. The TON Foundation also plans to integrate its TON DNS technology into TON Sites and TON Proxy tools which are expected to launch in Q3 2022.
“A .ton domain name will therefore be a welcome alternative to centralized domain registries, which have the ability to arbitrarily block a website’s domain,” the announcement notes.
Along with the launch of TON DNS, the foundation announced that it would hold an auction of the first “.ton” domain names on July 30. The auction was “designed to be as decentralized as possible, with equal terms” for all participants. , said the TON Foundation, adding that it will run on smart contracts for a period of seven days.
“Notably, coins from the sale of each domain will be withdrawn from circulation – these tokens will be sent to a smart contract from which they cannot be withdrawn,” the announcement notes.
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The launch of TON DNS closely follows the integration of TON Blockchain with Telegram mobile and wallet bots earlier this year. “The launch of TON DNS will simplify how users interact with the TON blockchain and continue to make TON even more accessible,” the foundation said.
According to an announcement on Saturday, support for TON DNS has also been integrated in services like The Tonkeeper, TON Web Wallet and Tonscan.
The news comes shortly after the TON Foundation announced on Thursday the completion of the full issuance of 5 billion tokens by Toncoin. The end of Toncoin mining marked a major milestone in the distribution of TON, beginning its new era as a fully proof-of-stake blockchain.