Since its launch, the total transaction volume is only US$40,000. How much is the Unisat domain name worth?

读者

2023-06-04 06:39

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This is not the first domain name system to be based on Bitcoin.

On the last day of May, Unisat officially launched domain name transactions, supporting both .sat and .unisat domain names. This function, which has been circulated in the community for a long time, has finally officially met with users. This domain name asset based on the Bitcoin network has also become a "local hotspot" within the BTC ecosystem.

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Fewer than 500 transactions with a volume of only $40,000

Up to now, the Unisat market transaction records show that .sats domain name has a total of 398 transactions, and .unisat has a total of 55 transactions.

It has been on the line for 5 days, and this bleak figure has to arouse investors' concerns. Specific to turnover, it is even more sluggish. Take the .sats domain name, which is more actively traded, as an example. After counting all transactions, Odaily found that the current total transaction value is only 40,100 US dollars, and 79% of the domain name transaction prices are below 30 US dollars.

And what about Ethereum's ENS transaction data? According to NFTGo data, the transaction amount of ENS during the same period was 92.55 ETH, or about 174,000 US dollars.

Of course, as a well-known and old-fashioned project, such a comparison of .sats domain names is not fair, but this data can also be used as a perspective for horizontal observation.

From the perspective of the supply side, there are currently 18,232 pending orders for .sats domain names in the market, which is 45 times the current total transaction volume.

However, this data does not have too much reference value. Due to the high degree of customization of domain names, there are a large number of long-tail domain names in various domain name assets of each chain for a long time, and it is difficult for these domain names to be traded at the end of their entire lifespan.

Currently, .sats, which is more actively traded, is a short-digit purely numeric domain name.

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Domain names are sold fairly, but the landing scenarios are limited

The Sats Names domain name system aims to build a bitcoin domain name ecosystem built by bitcoin users and fully developed on bitcoin.

According to the official documentation, since the domain name is stored on the Bitcoin network using Ordinals, all name states are stored on Bitcoin. From a narrative point of view, the domain name may be more "orthodox". The status of domain names can be obtained without additional databases or other networks, and any client can independently calculate the true status of all names.

A feature that is quite different from other domain name systems is that Sats Names does not have a smart contract that acts as an administrator, and there is no token economics, no pre-mining, no governance, and no incentives.

What's more interesting is that the domain name registration fee will be provided to Bitcoin miners, and the domain name issuer will not obtain income through domain name sales. This is also quite different from some common domain name projects.

This DNS is currently available in Nostr, or as a Lightning Network address.

The Bitcoin-themed domain name system is not the first to appear in the crypto world. There are currently two projects for the .btc domain name alone.

Previously, the Bitcoin smart contract platform Stacks had launched the .btc domain name. Stacks was launched as early as 2018. The project uses the PoX consensus to link the Stacks blockchain and Bitcoin, and empowers developers with smart contracts and computing capabilities on the Stacks network. The BTCDomain project also produced another .btc domain name system based on Ordinals. Odaily was in"What stage has the Bitcoin ecology in the hurricane developed?" "A brief introduction to the project is given in this article.

Different from the mainstream public chains, BTC network dApps are not active, and domain name usage scenarios are still quite limited. The decentralized Bitcoin network also makes the market more free and open, and some "semi-official" domain name services with the official background of the public chain do not exist on the Bitcoin network. Therefore, all domain name systems have almost equal opportunities, and we can predict that there may be more bitcoin domain name services joining the market competition in the future.