Recently, Bitname, a service provider in the Bitcoin ecosystem, announced the development of a name service designed specifically for the Bitcoin ecosystem. Bitname is the first name service provider that covers the entire Bitcoin ecosystem. It allows permanent storage of domain assets on Bitcoin and supports mutual conversion and resolution of all Bitcoin address types. It also supports the linking of Bitcoin Layer2 and sidechain addresses through unique features. It prioritizes the unification of native Bitcoin domain assets across different protocols and represents a step towards integrating the entire Bitcoin ecosystem.

SRC101 Protocol
To meet this important need, Bitname developed a name service designed specifically for the Bitcoin ecosystem. With these features, the Bitname team developed a new protocol standard SRC101.
SRC101 provides several key features:
● High scalability: supports cross-chain domain binding and protocol upgrades, ensuring integrated transactions and identity unification of decentralized and on-chain data storage systems. ● Enhanced security: decouples name assets from UTXO to prevent asset loss and phishing attacks. Assets are associated with the sender address of minting transactions, enhancing traceability and security. ● Low transaction fees: allows multiple operations in one transaction, reducing data storage requirements and miner fees. This design minimizes the impact on Bitcoin network efficiency and solves the blockchain bloat problem.

Bitname's Vision:
Through SRC101, Bitname aims to provide a Bitcoin name service characterized by immutability, security, and scalability. This service will create a comprehensive infrastructure within the Bitcoin ecosystem, greatly improving user experience and network security.

Key Features:
● Universal Address Compatibility: Supports all Bitcoin address types, including Legacy, Nested Segwit, Native Segwit, and Taproot. ● Immutability and Security: Store assets directly in UTXO on the Bitcoin blockchain, ensuring permanent on-chain storage and preventing accidental asset consumption and phishing attacks. ● MatrixLink: Anchors accounts of all Bitcoin Layer 2 solutions and supports binding with EVM-compatible chains and Web2 projects, creating a comprehensive identity matrix centered on Bitname native domain assets.

Bitname's next plan is to integrate Bitcoin Layer2 using the MatrixLink feature. In order to maintain the security and central role of local Bitcoin Layer1 assets, no cross-chain transfer or mapping operations will be performed when using domain assets on different Layer2s. This means that cross-chain account connections will be achieved by issuing tokens or creating non-tradable, non-transferable NFTs, while assets remain on Bitcoin.

Introduction of Bitname Stampcard


Source: Bitname Gitbook
Recognizing the universal difference in scarcity among domain assets, Bitname specially designed the visual effects of the domain asset cards, aiming to not only provide basic domain resolution services, but also enhance the collectibility and playability of domain assets with specially designed visual effects.

Bitname Stampcard Innovation
● Frame Tier System Inspired by traditional trading card games (TCGs), Bitname Stampcard features a visually unique frame tier system based on registration price:
Five-character fields are indicated by a white border.
Four-character fields have a blue border.
Three-character fields are marked with a gold border.
This tiered system visually differentiates the price and scarcity of the domains through the card design, providing a diverse and layered presentation of the Bitname Stampcard.
● Unique identifier (ID)
Each Bitname Stampcard is assigned a unique identifier based on the chronological order of the domain asset's minting. This ID is prominently displayed on each card, visualizing the data inherent in the asset's code layer and enhancing the user experience through a more engaging and detailed service.
● Series-based artwork
In addition to the frame level and unique ID, each Bitname Stampcard also features randomly generated artwork. This adds a layer of uniqueness and collectibility beyond scarcity. Each card is a carefully designed artwork, highlighting that while Bitname is an infrastructure project centered around products and services, it also aims to add some fun and entertainment to its users.
Bitname Stampcard brings new collectibility and playability to traditional domain name NFTs, combining functionality with creativity to enhance the overall user experience.

About Bitname
Bitname is a Bitcoin name service focused on creating a comprehensive name service for the entire Bitcoin ecosystem. Bitname developed the SRC101 standard for the service and designed an innovative NFT collectible for domain assets to differentiate it from traditional name services, making it more collectible and entertaining. Introducing a unique card design in the series, Bitname Stampcard brings new collectibility and interactivity to traditional domain name NFTs.

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Media Contact
Company Name: Bitname
Contact: Rebecca Riley
e-mail:
[email protected]
Website: https://bitname.pro/
Disclaimer: The information provided in this press release does not constitute a solicitation for investment and is not intended to provide investment advice, financial advice or trading recommendations. You are strongly advised to perform due diligence before investing or trading in cryptocurrencies and securities, including consulting a professional financial advisor.