Feed for tag: names
A Proposal Called Numerifides for Solving Zooko's Triangle

Following the discussion that happened around tyzbit’s proposal on advertising lightning nodes via DNS records, he followed up with a proposal that aims to provide human readable, secure and decentralized “names” and arbitrary data on the blockchain while solving Zook’s DCS triangle

I have been working on a proposal called Numerifides which would provide a general method to register human-readable names and arbitrary data (such as username->GPG key, domain->IP address, Lightning node Alias-> URI, etc).

Here are the key highlights:

  • New transaction type called “numerifides” transactions
  • Lock up Bitcoin for a certain amount of time to make the mappings valid, discourage “namesquatting”
  • Transaction puzzle attached to transactions to allow community consensus revocation of highly contested names or “squatted” name mappings.
  • Transactions are RBF so if name is contentious or miners wish to censor, one honest greedy miner can include the censored user’s high-fee transaction)
  • Solves Zooko’s triangle of Secure, Decentralized and Human Meaningful