BitShares Forum

Other => Graveyard => KeyID => Topic started by: bitmeat on September 02, 2014, 08:01:50 am

Title: [DNS] In a nutshell?
Post by: bitmeat on September 02, 2014, 08:01:50 am

So in a nutshell will BDNS work like this?

- each domain registration attempt will initiate an auction
- auctions will last some period of time (30 days?) or until there are no more bids for some period of time (like 24 hours to make sure all time zones get a decent chance to bid?)
- registration fees from winner are burned to reward investors
- renewals new auction or min fee decided by the network?

Anything I'm missing?

Title: Re: [DNS] In a nutshell?
Post by: emski on September 02, 2014, 08:15:12 am

Are the auction bids public ?
I haven't followed the whole DNS discussion closely and I'm interested in the final decision.

Title: Re: [DNS] In a nutshell?
Post by: bitmeat on September 02, 2014, 08:28:11 am

Yeah, I wasn't sure what the current decisions are, so I just wrote down a mix of what I read on the forum and how I would go about it.

If every name registration attempt always goes through an auction, it will make BDNS a great investment, but also might burn someone small trying to get a name for their needs, only to get squatted by someone more powerful.

Either way it will be interesting. A plugin/search engine would be great if it makes name resolution work seamlessly in the browser.