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Tezos Plans to Introduce Vanity Addresses in Future

Tezos Plans to Introduce Vanity Addresses in Future

Tezos, an open-source platform, has recently revealed that it is planning to introduce vanity addresses very soon in the future. The firm has taken inspiration to extend its support for domain names and human-readable addresses. This firm has started planning this after receiving a new proposal from the blockchain community.

The leader of Tezos Domains projects, Miroslav Bodeček has recently posted an article in which he has explained the goals of the firm. According to the firm, thehttp://www.classifiedsciti.com/community/announcements/latest-news-on-cryptocurreny-in-india-1757729.htm standard blockchain address comes as an obstacle while using Tezos as a currency. The reason behind this is that it is not easy to read and memorize those blockchain addresses. Now with the human-readable wallet, it will become much easier for the firm to tackle this problem.

This proposal by Tezos is a draft

Even though the firm is planning to implement this plan, it is not definite whether it will be accomplished or not. The firm has only created a proposal which is still in draft and this has also been mentioned by Bodeček that the firm has not given any kind of guarantee that it will introduce this feature. Even though nothing has been clarified, the firm is still making plans for an open auction and if the domain names will be introduced they will be sold via a first-come-first-serve system. Along with this, it is also planning to avoid the phishing attack.

Other blockchain having their own name services

It has been seen that this is not only Tezos, as several other blockchain firms are planning and some have already introduced their own name service. One of the prominent one is the Ethereum name service through which Tezos has been inspired. Currently, it has a total of 274,000 ENS names. Some other blockchain firms like Zilliqa, NEO and Namecoin have also built their own name services. If the firm will be successful in introducing its name service then this is going to be a major step for the firm which will simply ease up a lot of operations.

Comments

  1. Rudy GarciaAugust 27, 2021 at 1:26 AM

    Thanks for sharing such a helpful post! This is a very informative & great Post. I got too much information about tezos futures & updates from this post. Keep Posting!

    ReplyDelete

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