On 25th of March BitDNS conducted an AMA in Crypto Revolution Community. Our guest was BitDNS CEO Karen New! Pretty good interest from our Community.Let’s take a look at most interesting points from our Conversation with Karen!
INTRODUCTION
Danny | Crypto Revolution: Let’s start our AMA and please welcome BitDNS CEO Karen New!
Karen New | CEO BitDNS: Hello, everyone, I am BitDNS CEO Karen New. I have been researching and exploring the blockchain industry for a long time. And I have done many works for blockchain projects, such as strategic guidance and the construction of smart contracts, etc. I also have some experience in Tokenomics, DAPP and so on. It is my pleasure to be invited by the Crypto Talkz community and share some knowledge about BitDNS and its exploration and study on blockchain technology.
Danny | Crypto Revolution: As I know, the BitDNS domain name system is mainly known for its blockchain domain name system. Could you please share with us what is the traditional DNS and decentralized DNS?
Karen New | CEO BitDNS: DNS is simply known as the Domain Name System, and it is the basic service of the Internet. As a database that maps domain names and IP addresses to each other, DNS makes it easier for users to access the Internet. It is used to convert machine-identified addresses into human-identifiable addresses (such as google.com, baidu.com, etc.). Since computers can only recognize IP addresses and cannot recognize domain names in network communication, DNS services can facilitate users to access the Internet more conveniently without remembering IP addresses. DNS realizes the translation function of IP addresses and domain names.
Compared with traditional DNS, decentralized DNS is mainly based on a new type of Internet with blockchain technology as the bottom layer. For example, BitDNS focuses on providing blockchain domain name and domain name data resolution services for blockchain networks, helping enterprises and individual users to participate in digital assets transactions and manage value data information on blockchain more conveniently and safely. Unlike the infrastructure of traditional domain name service, BitDNS’s smart contract can replace the roles and processes of most registrars. Any organization or individual can create subdomains by the rules of the registry. The resolution system acts as a translator to translate domain names into hash addresses and some major public blockchain addresses. Based on the cross-chain design, BITDNS can serve the existing public blockchains like Ethereum, IPFS, etc, which makes file access, address transfer, and smart contract invocation more convenient and fast.
Danny | Crypto Revolution: As you mentioned from above, BitDNS mainly focues on decentralized domain name system. I am curious, the current traditional DNS can’t satisfy our needs now? What are the advantages of the decentralized “Domain Name System” compared to the traditional “Domain Name System”?
Karen New | CEO BitDNS: In fact, most users might think that, there is no obvious difference between these two DNS systems. But from a technical perspective, traditional DNS has many disadvantages. Due to historical reasons, the traditional DNS is highly centralized, and the stability of the entire system relies heavily on the central node. And centralized structure caused the contradiction of security and performance, so that DNSSEC security extension protocol has been quit for many years, but the popularity is still not very optimistic. As one of the underlying foundations of the entire Internet service, DNS handles billions of Internet access requests from around the world every day. If the DNS server crashes, users wouldn’t be able to access the Internet. Due to the fragility of its architecture, it is easy to cause large-scale network crash. For example, the two large-scale crash incidents that occurred in AWS this month, has caused a huge bad impact on users.
From the following performance comparison table, you can obviously see that, compared with traditional DNS, BitDNS has made a lot of reform and optimization to its drawbacks.
Danny | Crypto Revolution: Everyone is very interested in BitDNS. Would you please give more info about BitDNS to us?
Karen New | CEO BitDNS: BitDNS is committed to building a decentralized cloud computing platform to build the core infrastructure to achieve DWeb4.0. Our vision is to build a pure decentralized network ecosystem. In the future, the services based on the BitDNS decentralized cloud computing platform will include: elastic computing, edge computing, Internet of Things, distributed AI computing, distributed application components (database, storage, CDN, streaming media, microservices, messaging services, etc.). Application scenarios will include: websites, APP servers, forums, blogs, chat tools, cloud computers, cloud live broadcasts, cloud games, e-commerce/O2O, etc. Among them, BitDNS’s domain name resolution technology will serve as the core component and key interconnection tool for the realization of decentralized cloud computing platform.
Danny | Crypto Revolution: Can you briefly introduce the investment value of BitDNS?
Karen New | CEO BitDNS: Regarding the investment value of BitDNS, I will give you a brief introduction from two angels. The first is the hype value of domain names. The current decentralized domain name hype market is just like the eve of the Internet’s outbreak, which is a blank market with huge commercial potential. A good domain name is easily discovered by some commercial institutions. Imagine if you had several domain names like “www.geeogle.com" more than ten years ago, you may have millions of dollars now.
The second is the practical value of domain names. As we all know, the relationship between the blockchain domain name and the wallet address is like the relationship between the .com domain name on the Internet and the IP address and mailbox system. It has many application scenarios. The blockchain domain name has the features, such as high recognition, and user-friendliness, which solves the problem that the traditional address is easy to make mistakes and is convenient for the user to transfer assets. We can say that the blockchain domain name is the foundation of the blockchain. In addition, domain name resolution is the key to the interaction between users and business. And domain name resolution is essential for the access to the website. In the same way, BitDNS will be indispensable if you want to access decentralized websites and applications.
Danny | Crypto Revolution: How can ordinary users purchase BitDNS’s decentralized domain name?
Karen New | CEO BitDNS: On January 16, 2021, our team officially launched the BitDNS APP. The current BitDNS APP already has the “domain trade” function. Users can search for their favorite domain names. Currently, users can use DNS and USDT to purchase the domain names. The domain name will be yours forever after purchase, and users who have the domain name can enjoy various services of the subsequent development of the APP.
With the continuous study and development of our technical team, BitDNS APP will gradually launch a variety of application services such as BitMail encrypted mailbox, BitAppStore, BitDNS cloud game system, BitDNS cloud live broadcast system, BitDNS cloud desktop system, BitALLSNS which isdiversified social network services, etc. This is the download link of our APP: https://www.bitdns.vip/BitDNS.apk
In the future, BitDNS APP will become a platform which will integrate multiple applications, and users can enjoy the one-stop multi-dimensional service of “one APP, multiple functions”. Similar to the current WeChat app, users can enter through the interface of the domain name system account, then use all the functions and services of the APP.
Danny | Crypto Revolution: Btw, what is the latest development of BitDNS?
Karen New | CEO BitDNS: At present, we have been continuously carrying out daily technology research and development and promotion according to the plan, gradually improving our ecology, and in-depth cooperation with many blockchain ecology.
It is worth mentioning that, BitDNS was officially launched on Huobi ECO Chain yesterday. The mining event started at the same time. And we also launched the domain name which ends in.ht and has a high degree of relevance to HECO. Through the functions of registration and resolution, we will help users in the ecosystem to realize simple and convenient transfer operations, so as to improve the value circulation efficiency of Huobi ecological chain.
As a leader in the field of decentralized domain names, BitDNS has always insisted on promoting the popularization of blockchain ecology through innovative technologies and advanced concepts, and promoting the landing application of more blockchain products. The multi-faceted in-depth strategic cooperation with Heco this time not only benefits both parties, but also promotes the leap-forward development of the blockchain industry to a certain extent.
The fixed APY of the mining is 548%! Here is the guidance of mining: https://bitdnsofficial.medium.com/how-to-participate-in-bitdns-mining-on-heco-4bb7f4e45d3a
TWITTER QUESTIONS
Q1 from @dungtroc899
Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the blockchain industry?
Karen New | CEO BitDNS: First of all, we have our own core technology and innovative concepts, and have unique advantages in the decentralized domain name track; secondly, as the infrastructure of the blockchain network, we continue to cooperate with other public blockchain ecosystems to expand our influence ; Finally, our product has been launched, the market has responded enthusiastically, so it has been recognized by a large number of users. Therefore, in terms of technical strength, partners and market prospects, our market potential is still great.
Q2 from @Sarathvmohan
What’s the roadmap of BitDNS, what can investors expect in 2021?
Karen New | CEO BitDNS: 1. 3.31,2021 BitDNS domain name resolution client/APP will be launched
2. 2021.6.30 BitDNS wallet version 1.0 and the core module of the BitMail mailbox system will be launched
3. 2021.12.31 BitDNS one-click cloud access, one-click to blockchain tool, BitMail mailbox system will be available
4. 2022.12.31 dWeb4.0 system will be completed
5. 12.31,2023 IPv8/rTCP decentralized cloud computing network will be completed
So far, BitDNS has been officially launched on Huobi ECO Chain. The mining event started at the same time. And we also launched the domain name which ends in.ht and has a high degree of relevance to HECO. Through the functions of registration and resolution, we will help users in the ecosystem to realize simple and convenient transfer operations, so as to improve the value circulation efficiency of Huobi ecological chain.
Q3 from @bimasuryaatmaj1
In general, Internet of Value development has three main elements namely the underlying platform, domain name resolution, and various applications. How did BitDNS build these 3 elements? and what strategies will you use to achieve them?
Karen New | CEO BitDNS: The underlying platform: We have built a decentralized cloud computing platform that can provide users with decentralized data storage and calling, with high security and efficiency;
Domain name resolution: Decentralized domain names have been launched already. With the launch of the resolution system, users will be able to use domain names for transfers, website construction, and other operations;
Various applications: We will launch variuos apps later, such as BitMail.
UPTRENND QUESTIONS
Question 1:
What are the differences between BitDNS and traditional DNS? How is your project better in terms of cost and efficiency?
Karen New | CEO BitDNS: The current DNS domain name system is highly centralized in design due to historical reasons, and the stability of the entire system relies heavily on the central node. As one of the underlying foundations of the entire Internet service, DNS processes billions of Internet access requests from the entire world every day. If the DNS server goes down, users will not be able to access the Internet. The resolution process of our BitDNS system is decentralized, and no one can tamper with the data. Secondly, compared to the domain name project on the same track, BitDNS is not limited to a certain field, but links the Value Internet and the Information Internet.
Question 2:
As I know BitDNS bring dWeb4.0 technology services. can you tell us about these services? why did you decide to focus on web4.0 instead of web3? what are the benefits of your products?
Karen New | CEO BitDNS: DWeb4.0 mainly put forward the concept of a decentralized cloud computing platform, which truly stores the user data of Value Internet in a distributed manner, and builds various applications of Value Internet on this basis; web3.0 is fundamentally not decentralized enough which is not in line with the development trend of the Internet; and our products will ensure that users are highly decentralized in the Internet, and that users have completely independent management rights of their own data.
Question 3:
I read that BitDNS technology supports chainlink. Only support chainlink as oracle? is the bitdns platform compatible with more oracles?
Karen New | CEO BitDNS: We have always been in contact with partners in different fields. Our principle is to create a high-end industrial alliance. Therefore, not only in terms of database selection, but in other public blockchains and other dimensions, we will choose the most creative partners for exploration.
QUIZ PART
Question: Which exchanges has DNS been listed on?
A?MXC B?BitTok C?BTCMAX D?Btex E?All above
Answer: E. All above
Question: What are the values of DNS?
A?Deduction of transaction fees B?Regular candy airdrop C?Lock up reward D?Redeem DNS ecological token E?All above
Answer: E. All above
Question: Which public blockchain will BitDNS be launched on?
A?BSC B?Huobi ECO Chain(HECO) C?ETH
Answer: B. Huobi ECO Chaon ( HECO )
CONCLUSION
Karen New | CEO BitDNS: What are the best ways for people to know more about BitDNS updates?
First, Join our telegram and we update all infor on Medium.
2nd, this is our website in English and Chinese
http://www.bitdns.vip/
https://medium.com/@bitdnsofficial
BitDNS English
Web site:http://bitdns.vip/
Thank you for your time : ) Hope that you can spend some time to DYOR!
Danny | Crypto Revolution: Thank you Karen ?? Enjoy your day
The fixed APY of the mining is 548%! Here is the guidance of mining: https://bitdnsofficial.medium.com/how-to-participate-in-bitdns-mining-on-heco-4bb7f4e45d3a
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