Pat8
Established Member
- Impact
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Hello NP,
Since many days I have been thinking about this idea to auction domain names on Blockchain. It's not an idea but it's rather a solution to existing problem of "Public Auctions" that are "Not so Public" . I understand that we need to respect everyone's privacy but if an auction is done publicly each individual has the right to know who they are bidding against or atleast those who participate must have that information.
This is a major loophole that I find in domain names industry and again if we try to create a 3rd party for handling this situation we would end up at same point.
Hence, I propose a sytem of domain name auction implemented through Ethereum Blockchain by programming Ethereum smart contracts that are compatible to domain names.The currency of exchange would be ether.
It's not a farsighted goal that I am talking about, because there already has been some work done in the area of trading Non-Fungible goods on Blockchain and here is one such example : https://github.com/dob/auctionhouse.
Through NP, I wish to spread this idea of building a decentralised community based Domain Name Auction platform and to get feedback on the same.
Click here to view the doc that briefly explains the idea and I wish to know if anyone would be willing to take this up further.
Thanks,
PAT (Prathmesh)
LinkeIn : https://www.linkedin.com/in/prathmesh-tokekar
P.S.: Please let me know if there is any technical or grammatical error
Since many days I have been thinking about this idea to auction domain names on Blockchain. It's not an idea but it's rather a solution to existing problem of "Public Auctions" that are "Not so Public" . I understand that we need to respect everyone's privacy but if an auction is done publicly each individual has the right to know who they are bidding against or atleast those who participate must have that information.
This is a major loophole that I find in domain names industry and again if we try to create a 3rd party for handling this situation we would end up at same point.
Hence, I propose a sytem of domain name auction implemented through Ethereum Blockchain by programming Ethereum smart contracts that are compatible to domain names.The currency of exchange would be ether.
It's not a farsighted goal that I am talking about, because there already has been some work done in the area of trading Non-Fungible goods on Blockchain and here is one such example : https://github.com/dob/auctionhouse.
Through NP, I wish to spread this idea of building a decentralised community based Domain Name Auction platform and to get feedback on the same.
Click here to view the doc that briefly explains the idea and I wish to know if anyone would be willing to take this up further.
Thanks,
PAT (Prathmesh)
LinkeIn : https://www.linkedin.com/in/prathmesh-tokekar
P.S.: Please let me know if there is any technical or grammatical error
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