Saint Kitts and Nevis, May 7, 2021 – (ACN Newswire) –
Butterfly Protocol (www.butterflyprotocol.io),
the blockchain-based web naming system built for the
decentralized internet, today announced that it is opening
up additional sponsorship options for top-level domains
(TLDs), allowing anyone to create and totally control their
own decentralized, token-powered ecosystem. This move
compliments the original sponsorship option where TLDs can
be sponsored and are controlled by the common governance
contract.
The movement to a decentralized web has been
accelerating recently due to highly visible censoring such
as Facebook’s ban on allowing Donald Trump access to
posting, the takedown of the Parler social media app and the
continuing restrictions on free speech by authoritarian
governments. Blockchain domain systems such as Unstoppable
Domains, Handshake and ENS have been paving the way for
making the decentralized and distributed web accessible and
Butterfly is taking that access to a new level.
As
opposed to the existing platforms, Butterfly allows for the
sponsorship of practically any TLD. Rather than being stuck
in the confines of .crypto or .eth as TLDs, sponsors can
create their own such as .token, .defi or even .trump,
.biden, or .obama. As a decentralized autonomous
organization (DAO), Butterfly does not limit the community
to what can be created but there are measures being
initiated soon to discourage the use of existing TLDs from
other sources and those that are clearly
trademarked.
The process to sponsor TLDs can come in
two forms. The light version where anyone can go to the
ButterflyProtocol.io domain panel and contribute
approximately 9000 BFLY tokens to initiate the creation. Or
the custom option where it requires 100,000 BFLY tokens for
complete control of that TLD’s domain environment. For
custom requests, Butterfly support works directly with the
sponsor for the creation of the TLD and the subTokens
associated with that name.
To learn more about the
Butterfly Protocol, the BFLY token and how to participate in
the quickly evolving decentralized web, please click
here.
About Butterfly Protocol
Butterfly
Protocol is a blockchain-based web naming system built for
the decentralized internet. Butterfly’s Decentralized
Autonomous Organization offers a registry platform that
allows people to purchase top-level domains using
cryptocurrency in the form of its utility token, BFLY.
Butterfly Protocol uses blockchain technology to create a
system similar to ICANN without centralized control.
Butterfly Protocol allows anyone to suggest, sponsor, or bid
on the creation of new top-level domain names, and receive a
share of the tokens associated with the name, which they can
use to create subdomains and continue growing the
decentralized web. Along with domain names, Butterfly allows
for each domain address to be used for several unique
functionalities, including cryptocurrency transactions,
messaging, and social
media.