Sats Names Reaches over 53,000 Bitcoin Domain Names Minted, Costs Over 105 Million SATS
On March 7, according to the data of Dune Analytics, more than 53000 Bitcoin. Sats domain names developed based on the Ordinals protocol have been minted. The …
On March 7, according to the data of Dune Analytics, more than 53000 Bitcoin. Sats domain names developed based on the Ordinals protocol have been minted. The number of independent domain names after the duplication has reached 42000, and the number of independent casting addresses is close to 24000, resulting in a cost of 105 million SATS (about 23000 US dollars). Sats Names is the standard for writing names into Bitcoin using ordinal numbers. The goal is to establish a domain name ecosystem for Bitcoin. The first domain name “helloworld. sats” was registered on February 22, 2023.
More than 53000 Bitcoin. sats domain names developed based on the Ordinals protocol have been minted
Interpretation of the news:
On March 7, Dune Analytics reported that the Ordinals protocol-based Sats Names has seen more than 53,000 Bitcoin domain names minted. Of these, more than 42,000 are independent and the number of casting addresses is almost 24,000, which resulted in a cost of over 105 million SATS or approximately 23,000 US dollars. Sats Names is considered the standard for writing names into Bitcoin, offering a promising possibility of establishing an ecosystem for the domain name in the cryptocurrency world.
Sats Names is a decentralized platform that uses the unique features of Bitcoin to enable anyone to register a top-level domain name instantly. It is the first protocol for decentralized domain name registration on the Bitcoin network. In Sats Names, domain names consist of a series of numbers, where each digit represents an index position in the list of words used to build the name. The process of registering a domain name is related to the transaction of sending Bitcoin.
The goal of Sats Names is to create a domain name ecosystem for Bitcoin that is decentralized, where users can buy, sell, or trade their domain names without fear of censorship, seizure or control. The registration of the first domain name “helloworld.sats” on February 22 is considered a landmark achievement for Sats Names. The platform has the potential to revolutionize how domain names are bought and sold, leading to a more decentralized and democratized internet infrastructure.
The ever-increasing number of independent casting addresses and domain names that continue to be minted using the Ordinals protocol is an indication of the potential growth and adoption of the platform. The cost of 105 million SATS or approximately 23,000 US dollars, highlights the value of the Bitcoin domain names registered via Sats Names, and it may become a valuable asset in the future. The Sats Names platform is a significant innovation in the cryptocurrency world, with the potential to change how domain names are perceived, purchased, and used on the internet.
In conclusion, the exponential growth of Sats Names is an indication of the potential for a decentralized domain name ecosystem for Bitcoin, bringing a promising future for the use of cryptocurrency in the domain name industry.
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