Portal Network Announces Bitcoin Cash Name Service
The BCN links to a smart contract using a version of Omni Layer that’s also tethered to an IPFS hash and BCH wallet address. This allows users to create name-like BCH address on the web because BCH doesn’t have smart contract abilities like the Ethereum.
Portal Network said developers can write different information to the UTXO-based blockchain at JSON-RPC interface, and get related information stored in the Bitcoin Cash script. The company adds that Omni Layer plays a crucial role for BCNS because the Op-Return script is where all the BCNS information is stored.
According to Portal Network, Users can use the very same Bitcoin Cash domain to interact with their favorite smart contracts, and IPFS-hosted sites — In other words, users can efficiently manage their crypto and transactions without worrying about losing their assets.
BCNS Not Just BCH
Efforts are currently ongoing to create multiple blockchain name service platforms, said Portal Network. Developers are said to have already completed applications using different standards for a WNS (Wanchain Name System), QNS (Qtum Name Service), and INS (Iconick Name Service).
There have been many attempts to create a more simplified name service for cryptocurrencies but so far none of them have really caught on with the crypto community. BTC has had attempts like Bitalias, Bitdns, and the Ethereum network now has a platform called ENS, an ETH-based name service. A cryptocurrency-based name service system was first discussed in early 2010 and the Namecoin project spawned from this very idea in 2011.
Portal Network developers seem to think they can pull off the crypto-powered name service model for multiple blockchains, but ultimately it will boil down to the digital asset community adopting the name standard. The creators of BCNS say that not only can a user set up a human comprehensible name in the future, but they could interact with IPFS-hosted domains and smart contracts as well. At the moment, the bcns.portal.network website is registering name service credentials for those who sign up via email. Portal Network says they will notify users who registered their .bch name space in the near future.