Butterfly Protocol is a decentralized autonomous organization (DAO) and XDC network that establishes a decentralized naming system. It was announced this week that the Butterfly Protocol will be used in the XDC blockchain specific domain system.
Created by XinFin, XDC network It is an open source delegated proof-of-stake consensus network (XDPoS) that supports hybrid relay bridges, instant block certainty, and interoperability with the ISO 20022 financial messaging standard.About the Butterfly Agreement
Through grants Xinfen, Will create a blockchain registration system that allows dApp developers and users to register domains, and use more and more open source tools to develop standardized URL paths for data and processes.
In addition, in order to access the dApp built for the XDC blockchain, the plan will create a human-readable wallet name and have the opportunity to create single sign-on access across the entire dApp ecosystem.
“We are very happy to be a partner of the XDC network. The butterfly protocol will be used to create a blockchain top-level domain (bTLD); the blockchain is known for its scalability, stability, and extremely low transaction costs. This progress will accelerate The use of decentralized networks.”
– Dana Farbo, Head of Partnership, Butterfly Protocol
The XDC network is an enterprise-ready hybrid blockchain, which is very suitable for connecting legacy systems with blockchain technology. In addition, the XDC network is compatible with EVM, allowing interoperability with Ethereum, and advanced smart contract features suitable for various DeFi use cases.
With the continuous development of the decentralized Internet and distributed computing environment, the blockchain domain is gaining recognition. In addition, hybrid cloud and local nodes are improving file storage; providing a more powerful infrastructure to handle the needs of a data-driven society. The decentralized naming system is easy to use and access; at the same time, it provides an additional layer of security for fraud prevention.