Various blockchain projects have shifted some of their attention to disrupting the domain name services industry. Tezos is the latest project to do so, as Tezos Domains are now officially a thing.
For some time now, the Tezos team has been exploring new avenues to pursue.
Tezos Domains are Progressing Nicely
Rather than focusing just on cryptocurrency, its underlying blockchain has a lot of untapped potential as well.
One option to explore is to create a new DNS to rival ICANN.
All of this will be achieved through smart contracts that act as a proxy contract.
This proxy contract will act as an upgrade mechanism, allowing the Tezos Domains functionality to be upgraded accordingly.
All domains will be sold through auctions, rather than standard registration procedures.
It is not the first time that a crypto project ventures into the domain name industry.
How big the demand for these offerings will be moving forward, remains to be determined.
For now, the project is still in development, as the design of the smart contracts is far from finished.
There is also work to be done in terms of launching a browser-based dApp providing lookup functionality, subdomain information, and overall domain management.
Another interesting development for the overall industry, assuming there is a real demand for such services.