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Btc.us was originally developed by Hiro to provide decentralized .BTC names using the Blockchain Name System, similar to the Ethereum-based ENS domain system, but secured by Bitcoin. Since its launch in June 2021, over 312,000 .BTC names have been registered to date, all through organic growth.
All BNS transactions are finalized on Bitcoin, so .BTC names are ultimately secured by Bitcoin and are completely under the user’s control. The current functionality of a .BTC handle means an owner can use their .BTC name as a crypto wallet address to receive digital assets and as a unique identifier to sign into and authenticate with decentralized apps. But we have just scratched the surface of the possibilities for .BTC names. The project needed a dedicated team to take .BTC names to the next level. That’s where today’s announcement comes in.
A New Web3 Onramp
Trust Machines, an independent entity building the largest ecosystem of Bitcoin applications, will be the majority owner of Orange Domains with Tucows, an internet services and telecommunications company joining them. Hiro will remain a stakeholder in Orange Domains and support its growth however we can.
Trust Machines, which raised $150 million in 2022, will provide capital for Orange Domains and will focus on growing the team to expand the btc.us app's functionality. Tucows will bring its expertise in DNS and the web registry business. This partnership with Tucows, a publicly traded company, is a powerful signal of Bitcoin’s staying power, and together we will help introduce a new audience to the power of Web3, decentralization, and Bitcoin security.
Stronger Together: Web 1.0, Web 2.0, and Web3
Orange Domains isn’t trying to rewrite the playbook and build everything from scratch. It’s integrating “traditional” internet infrastructure with Web3 innovation to provide a better experience for users. That’s a key difference from most of what I see happening in Web3 today.
So much of the dialogue I hear from other founders revolves around Web3 being a revolution that will replace the internet as we know it. I don’t see that happening. Web 2.0 isn’t just going to go away. Not everything needs a blockchain, and Web3 isn't a fix for all of the problems that exist in the internet as we know it today.
The way I see it, Web3 is an important step forward in a long line of innovation, a line that looks something like:
- Web 1.0: Networks
- Web 2.0: Applications
- Web3: Ownership
The internet is the first truly global network that people have created. It transcends international borders and is beyond the control of any single government. The ability to take your own device and connect to anyone in the world via common protocols was the massive innovation at the heart of Web 1.0, but the barrier to entry was quite high in the early days.
Then in Web 2.0, applications that made it easy for every user to contribute were the real innovation. Content generation, new services, social media, and a whole host of applications transformed how we live. But that easy user experience and central gathering points came at the cost of massive centralization and company ownership.
In Web3, we can transform the way we think about digital ownership. Blockchains enable radical evolution in how we handle user identity and the decision-making process—bringing together the benefits of the mainstream adoption of Web 2.0 with the original vision of ownership and decentralization of Web 1.0.
With Web3, developers can build applications that allow everyone to centrally gather, but users maintain the ownership and control of their identity and data. And Orange Domains is one of the fundamental pieces of that. Giving you the power to own and control your domains, secured by BTC, rather than just renting it from a registrar.
Imagining the Future.btc
That brings us back to today’s announcement, one that connects a startup building on bitcoin and the second largest domain registrar for websites in the world. Companies from Web 1.0 to Web3 coming together to bridge the gap and provide a better user experience. That’s innovation, and it brings a whole world of possibilities.
By connecting .BTC names to the traditional web we can create new worthwhile experiences for users, such as allowing them to use their .BTC names as web pages. Imagine how powerful Web3 can be when it leverages the tools innovators have refined for decades and when it integrates with an internet that is already used by 5 billion people. This announcement is a step towards that integration.
Orange Domains aims to significantly expand the use cases of .BTC names by unlocking seamless Web3 app authentication, human-readable crypto wallet addresses, and more. I can’t wait to see the unlock for Bitcoin applications, the Stacks ecosystem, and the internet at large.
