The Open Network Foundation (TON) is the latest cryptocurrency company that has upgraded its ecosystem with Ethereum Name Service domain names.
The TON Foundation announced Thursday the launch of TON DNS. This new service allows users to assign human-readable name to crypto wallets and smart contracts.
Like other crypto-related domain names such as “.eth” and “.crypto”, the domain zone for TONDNS is “.ton”. This will allow users to easily access decentralized applications.
TON DNS will allow users to type in simple domain names rather than long strings of numbers and letters.
A domain name created with the TON DNS will be used as a nickname and will unlock a wallet address. The TON Foundation plans to integrate its TONDNS technology into TON Sites, TON Proxy and other tools. These are due to launch in Q3 2022.
The announcement states that a.ton domain will be an alternative to centralized domain registrations, which can block domains arbitrarily.
The foundation has announced that it will hold an auction for the first “.ton” domain names in conjunction with the launch of TON DNS. It will take place on July 30, According to the TON Foundation, the auction is “designed to be as distributed as possible with equal conditions for all participants” and will last for seven days on smart contracts.
The announcement states that coins from each domain’s sale will be taken out of circulation and will be sent to a smart-contract, from which they won’t be withdrawn.
Similar: The 4-digit ENS domains continue to rise in demand and are in high demand
The TON DNS launch closely matches the integration of TON Blockchain with wallet Telegram bots and mobile earlier in the year. The oundation stated that TON DNS would simplify the way users interact with the TON Blockchain and make TON even easier to access.
A Saturday announcement stated that TON DNS support was also integrated into services such as The Tonkeeper, TON Web Wallet, and Tonscan.
This news comes just a few hours after the TON Foundation announced that Toncoin had completed its entire issuance (5 billion) of tokens. Toncoin’s mining ended on Thursday, marking a significant milestone in TON distribution. This marks the beginning of a new era with TON as a fully proofed-of-stake cryptocurrency.