Concordium Builds in a Bear Market — Bictory Finance takes the Forefront.
Compliant by design and Confident by nature are bold texts heavily displayed on the Concordium website layout, with top-tier features like regulatory compliance, privacy-proofed, fast finalization, and low, stable fees, to mention a few. The blockchain is relentlessly spearheading the Web3 Reg-Fi charge to enable businesses easily integrate the distributed ledger technology. In the words of its founder & chairman, Lars Seier Christensen, “Concordium supports regulatory compliance with built-in user identity at the protocol level allowing businesses to harness the power of blockchain tech.”
With the growing number of Dapps built into the Concordium blockchain, we see that the team is striving to harness the potential that Reg-Fi would bring in the coming years, and Bictory Finance is one of its stars!
Being the first team to win Concordium’s open & free grant in 2018, the team, from the onset, has been forward-thinking and actively growing on Concordium’s blockchain with a multi-chain NFT marketplace & collection. Now, In the quest for a better user experience to surf the Concordium chain and web3 altogether, Bictory Finance has developed a blockchain-based naming system on the blockchain.
We are proud to present the Concordium Name Service (CNS), a distributed name registry that takes the hassle of web3 interactions by abstracting off ugly wallet addresses for human-readable and memorable names. Set to launch on the this August, every user in the Concordium ecosystem can register a custom domain name in the form [YourName].ccd to ease wallet transactions and dapp logins. Your chosen name replaces [YourName].
The name service is a CIS-1 hierarchical system with the “.ccd” top-level domain. These domain names are NFTs held in the wallet of the registrant or owner and can, similar to other NFTs, be sold on BictoryNFT or any other NFT marketplace on the Concordium ecosystem.
The goal to create user-friendly names to replace long machine-generated identifiers like Concordium’s wallet address, under the hood, is achieved by two central smart contracts; the registry, which handles the top-level-domains, other registered sub-domains, registrant, as well as the time-to-live, and the other smart contract is the resolver, which translates these names into the owner’s address for operations.
We are humbled to inform you that this extra level of usability infrastructure we’ve built has won Bictory Finance another grant (worth $40k) from the Layer 1 PoS self-sovereign ID in-built blockchain open and free grant program making Bictory Finance a two-time winner of the grant program.
As more websites become decentralized, hosting their content in distributed peer storage networks to increase data persistence and censorship resistance, these .ccd domain names could play a significant role in decentralizing the Web as they can also be pointed at these distributed websites, further strengthening their resilience.
DNS came to make web2 a bit more usable. If not for that naming system, you probably would be unable to find this article on time, still guessing between numbers and periods to find the Bictory Finance profile on the Medium platform. It’s thankfully not so. CNS is leveling up the Concordium chain usability and other web3 dapps in this same way. Soon you can easily send some CCDs to Bictory.CCD to show your favorite project team some love for all of its hard work.
What is your on-chain name? Get one on the first self-sovereign ID professional blockchain network!
More information on how to buy & sell a CNS domain name coming soon.