🤔How does BNS work?

BNS functions as a decentralized Domain Name System (DNS) but for blockchain identities. It maps human-readable names to underlying blockchain addresses and metadata, making blockchain interactions simpler and more accessible.

Key Components:

1. Names:

   • Unique identifiers like yourname.btc or yourbrand.id.

   • Names are stored as on-chain records, ensuring immutability and security.

   • Users can associate their names with Stacks and Bitcoin wallet addresses.

2. Namespaces:

   • Each BNS name exists within a namespace (e.g., .btc, .id).

   • Custom namespaces can be created (e.g., .brand) and managed by their creators, enabling branded or purpose-specific names.

3. Zonefiles:

   • Metadata associated with a name (e.g., Bitcoin address, profile data) is stored off-chain in a zonefile, with its hash anchored on the blockchain.

   • Zonefiles ensure the flexibility to update information without altering on-chain records.

How Names are Registered, Renewed, and Managed:

1. Registration:

   • Users register names using Stacks tokens (STX) via dApps like BNS One, btc.us or bnsv2.com.

   • The process involves sending a smart contract transaction to claim a unique name within a namespace.

2. Renewals:

   • Names typically have a renewal period to maintain ownership.

   • Renewals require small STX fees, ensuring active names are retained by engaged users.

3. Transfers:

   • Names can be securely transferred between addresses.

   • The transfer process is initiated through a smart contract to reassign ownership.

4. Management:

   • Owners can update zonefiles to change metadata, link new wallet addresses, or even sell/trade their names on marketplaces.

Example Workflow:

1. Register a Name: Use BNS One to search and register a name like yourname.btc.

2. Renew Ownership: Receive alerts and renew your name with STX before it expires.

3. Manage the Name: Link your Bitcoin address or update metadata for use in apps.

4. Transfer/Sell the Name: Use marketplaces like Gamma or directly transfer ownership via a smart contract.

Why Does This Matter?

• BNS provides a foundational layer for Web3 identity on Bitcoin.

• It simplifies transactions, supports dApp integrations, and enables custom namespaces, making it a cornerstone for Stacks’ growing ecosystem.