Welcome to bulliscoming media, a wallet address domain name is a custom name that can be used to receive cryptocurrency anytime, anywhere.
Instead of going through the stress to copy strings of numbers and alphabet mixed as a cryptocurrency wallet address, you can receive the cryptocurrency with just 5 – 10-letter words easily. You can easily receive the cryptocurrency even when you’re not with the device that you have your wallet in.
Algorand Name Service – ANS wants to make it easy for Algo users to receive Algo anytime, anywhere by registering a (.algo) domain name that is linked to the user wallet address. You can register a (.algo) domain name with just your preferable name and receive Algo with it, e.g. joy.algo.
The question that may have been hovering around your mind is, “how can this be possible?”
In this article, I will explain how it can be done and how you can get free Algo on a testnet faucet to register an Algorand domain name.
What Is Algorand Name Service (ANS)?
Algorand Name Service – ANS is a decentralized name service on the Algorand network. Similar to ENS, it allows users to register .algo domain names for wallet addresses. Users are then able to share their (.algo) domain names in place of wallet addresses for receiving payment and in other interactions.
Algorand Name Service Journey
Sai Medury and Lalith Medury started building ANS in August 2021 and demonstrated the initial prototype of ANS at Encode Hackathon Finale on October 11, 2021, which was awarded second place! Following the hackathon success, ANS was accepted in to Encode Club accelerator program starting from November 2021. With the support of Encode Club members and Algorand developers, the ANS team continues to iterate and improve the prototype.
How Is Algorand Name Service (ANS) Built?
ANS is designed to be decentralized and cost-effective, there are mainly two components:
An Algorand Stateful smart contract (ASC) is used to build a domain name registry. ASCs have global storage of up to 64 key-value pairs and local storage of up to 16 key-value pairs. Domain-related information such as the domain suffix and metadata are stored in global storage. And each name is an Algorand account that opts into the registry smart contract and stores the owner’s wallet address for future resolution.
- Name Record
A name record is a standardized Logic Signature program (written in TEAL) with an arbitrary name input variable. For each unique compiled smart signature program there exists a single corresponding Algorand address.
This address is used to opt in to the registry smart contract and store the value of the owner’s wallet address. The logic sig account is subsequently re-keyed to the name owner’s wallet to avoid any unauthorized transactions in the future.
How To Register An Algo Domain Name
To register a domain name for your Algo wallet address, you will need some amount of Algo for fees but the Algorand Name Service is currently allowing users to earn Algo on a testnet faucet to facilitate their Algo wallet domain name registration because ANS is currently on testnet mode. Below is the step-by-step guide to earning testnet Algo for Algo domain name registration.
How To Get Algo On Testnet Faucet
To get Algo on tesnet faucet is very simple, but Puffin browser is recommended to use during this process in order not to encounter any issue, firstly create or import an algorand wallet on MyAlgo wallet.
After you’ve successfully created the wallet, claim 40 Algo on testnet faucet , you claim four-time because it’s 10 Algo/requests. The 40 testnet Algo will reflect in your MyAlgo wallet immediately, you can see it by switching the “mainnet” to “testnet” as indicated in the image.
After that, you then create a domain name on the Algorand Name Service website here.
In conclusion, ANS aims to establish a name service for the Algorand community with the maximum degree of decentralization. The ANS smart contracts are currently being peer-reviewed and will be audited for security in the coming days.
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