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Home > Blockchain > XDC Network selects the Butterfly Protocol

XDC Network selects the Butterfly Protocol

The Blockchain Domain Registry System will be unique to the XDC blockchain and provide access to domains, tools, and support for decentralized application (dApp) developers.


Julide Gamze Cecen Julide Gamze Cecen
August 12, 2021
2 min read
XDC Network selects the Butterfly Protocol for Initial Blockchain Domain Naming System for the XDC Blockchain

Butterfly Protocol is a decentralized autonomous organization (DAO) that aims to replace the Domain Name System (DNS) system and change the economics of domain ownership. Butterfly Protocol and the XDC Network announced that the Butterfly Protocol blockchain domain system will be used for an XDC blockchain-specific domain system.

Blockchain registry system will be created

Through a grant from XinFin, a blockchain registry system will be created that allows developers and users of dApps to register domains and use a growing set of open-source tools to develop a standardized URL path to data and processes. In addition, to access dApps built for the XDC blockchain, the initiative will create human-readable wallet naming and the opportunity to create single sign-on access across the dApp ecosystem.

Dana Farbo, Partnership Lead for Butterfly Protocol and founder of Avrilar Inc
Dana Farbo, Partnership Lead for Butterfly Protocol and founder of Avrilar Inc

Dana Farbo, Partnership Lead for Butterfly Protocol and founder of Avrilar Inc. stated that,

“We are excited to be an XDC Network partner. The Butterfly Protocol will be used for creating blockchain top-level domains (bTLD) with a blockchain that is known for scalability, stability, and very low transaction costs. This advancement will accelerate decentralized web usage.”

As an enterprise-ready, hybrid blockchain, the XDC Network is well-positioned to bridge legacy systems with blockchain technology, enabling institutions to take advantage of blockchain’s innovative use cases.

File storage is improving

The XDC Network is EVM compatible, allowing seamless interoperability with Ethereum, and offers advanced smart contract capabilities for enterprise use cases, including asset tokenization and decentralized finance. The network is receiving increased interest from institutions looking to keep pace with rapid fintech disruption.

Blockchain domains are rapidly gaining acceptance as the world moves toward Web 3.0 with a growing decentralized internet and distributed computing environment. In addition, file storage is improving with hybrid cloud and local nodes providing a more robust infrastructure to handle data-driven societies’ demands. Naming systems for the decentralized space allow for ease of use and access while providing additional layers of security for fraud prevention.

See more Blockchain News


Tags: Butterfly ProtocolXDC Network
Julide Gamze Cecen

Julide Gamze Cecen

Julide Gamze Cecen is the multimedia editor of the Cloud7 News. Julide is a solid Linux user, opensource and cybersecurity enthusiast and a front-end web application developer.

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