IoTeX Blockchain Governance Community Votes in Favor of INS Domain Names

The IoTeX Blockchain Governance Community Votes in Favor of IIP-22 for Simplifying Domain Names

The IoTeX blockchain governance community recently voted with a 94% majority to stake 54 million IOTX tokens in support of IIP-22, aimed at simplifying domain names on the IoTeX blockchain. This move is similar to Ethereum’s ENS and brings several benefits to users.

Key Points:

Crypto addresses can be long and difficult to remember, leading to input errors. IoTeX aims to make Web3 addresses more user-friendly by introducing human-readable domain names through IIP-22.
IIP-22, known as INS, allows users to register and manage human-readable domain names for their IoTeX addresses, smart contracts, decentralized websites, and other IoTeX-based resources.
INS makes it easier to search and navigate the blockchain ecosystem, promoting mass adoption of decentralized services and applications.
INS provides a unified namespace, enabling the use of the same domain name for multiple services across different dApps and blockchain platforms.
INS operates on the IoTeX blockchain, ensuring decentralization, security, and user control over domain ownership. It can be seamlessly integrated into popular wallets, exchanges, and decentralized applications.

Hot Take:

IoTeX’s introduction of IIP-22 and the INS domain name service reflects their commitment to simplifying the onboarding process for Web3 adoption. By providing human-readable domain names and empowering users with ownership and control, IoTeX aims to foster a community-driven ecosystem that promotes innovation and collaboration.