Nowadays all exchanges are developing with cryptocurrencies. In the early days, they were only institutions that provided transaction matching services for cryptocurrency holders. Later, as the digital currency market continued to expand, specialized transactions were finally formed. Therefore, the scope of services has gradually expanded too.

The prosperous development of digital currency exchanges has also facilitated the digital currency transactions of many blockchain projects. Now, the ecology of many blockchain projects relies on the series of tokens in their ecosystems. Tokens play an important role in the ecosystem of their entire projects.

As a senior project in the field of blockchain domain name system, BitDNS has launched a token based on its own ecosystem, this token was named as DNS coin. As the value support of BitDNS, the DNS ecological token guarantees the decentralization of BitDNS and enables stakeholders in the ecosystem to participate in network governance freely and fairly. In addition, the DNS ecological token can pay for various goods and services in the BitDNS ecosystem.

The necessity of blockchain domain names

As the decentralized blockchain has been recently recognized by the market, more and more relevant practitioners have begun to gradually build applications based on blockchain technology. With the emergence of the shortcomings of the traditional Internet, many users even began to discuss about the subversion of the traditional Internet. That is why the web3.0 and DWeb4.0 technologies appeared.

As just like the development process of the traditional Internet, domain name became the first important prerequisite for the development of the new Internet. The infrastructure of convenient Internet access must include the domain name system which plays a decisive role in improving user’s experience and at the same time boosts the popularization of the new Internet. Moreover, from a commercial point of view, domain names can be compared as companies with online trademarks, and their importance and value have been recognized by most companies.

Just like NFT has become a hot spot in the industry DNS has become the first listed currency in the blockchain domain name system

NFT has unique, scarce, and indivisible attributes. In the encryption field, it is mainly used in multiple application scenarios such as domain names, games, artworks, collectibles, virtual assets, real assets, and identity. As a well-known digital currency exchange, the MXC Exchange has been committed to support blockchain projects with in-depth value and exploring relevant digital currencies with actual value anchoring.

As a domain name system project in the blockchain field, BitDNS aims to create a mature and practical application domain name system through continuous innovation in technology and concepts. Currently BitDNS launched DNS and promoted the circulation of the ecosystem. With the strategic cooperation with the MXC Exchange, DNS will become one of the currencies in the blockchain domain name system, which will promote the prosperity and development of blockchain domain names.

BitDNS ecological token DNS carries out ecological rights and circulation attributes

DNS Ecological Token has become a global token which connects BitDNS ecological application, carries ecological rights and circulation attributes. For example, ETH related to Ethereum network, which generates value circulation in the process where users can practice their rights. In the future, as the ecosystem will continue to grow, BitDNS will provide users with a more complete incentive system.

At the same time, as the BitDNS ecosystem will continue to expand, DNS will have more usage scenarios, such as mortgage transaction fees, regular airdrops events, redemption of DNS ecological tokens, platform event tickets, lock-up rewards, etc. In the BitDNS economic system, DNS covers multiple dimensions of business scenarios, forming a fully closed-loop economic system centered on users.

In the future, with the completion of the ecological construction of BitDNS and the successful landing of DNS on mainstream digital currency exchanges such as MXC Exchange, the development of the blockchain domain name system will usher in major benefits, and it will also promote the development of a new type of Internet based on blockchain technology.