Blockchain Backed Website Domain-A reputable Chinese university wants its website domain to be handled on Blockchain. According to the US Patent and Trademark Office, the Shenzhen Graduate School at Peking University is examining how a “Consortium Blockchain” can be used to manage its website domain.
Many technical problems are encountered by the standard internet domain system which is based on a distributed system. Similarly, having an unevenly distributed root name server all around the world is just one problem!
“The web domain in Asia is much slower than the speed used in North America. when a root name server in Asia malfunctions, more than 20 millions internet users request the domain name and resolution is affected. Likewise, It significantly lowers the domain name resolution in Asia”.
The corresponding speed file database can be built by using Blockchain in the web domain. Similarly,Which store mapping relations between the top-level and sub-domain name systems. In this manner, trusted agencies and individuals can access information on the Blockchain. By using this method the internet can be accessed without compromising the speed at the universities. All regions can set up their server names as per their real-world needs.
Blockchain Backed Website Domain-There would be two layers in the domain, with the sub-domain being held by the TLD. Institutes can design their sub-domain either as decentralized or centralized systems according to their specific requirements. Another benefit is that no “consortium or small group” can control the entire process because of distributed nodes. As cryptocurrencies are actively prone to what’s called a “51% attack”. They are experienced to only allow “trusted” nodes which is a proof requirement for miners’ security. (A 51% attack is a potential attack on the bitcoin network whereby an organization is somehow able to control the majority of the network mining power (hashrate).
Bitcoin is secured by having all miners (computers processing the network’s transactions) agree on a shared ledger called the blockchain. Bitcoin nodes look to each other to verify what they’re working on is the valid blockchain. If the majority of miners are controlled by a single entity, they would have the power to (at least attempt to) decide which transactions get approved or not. This would allow them to prevent other transactions, and allow their own coins to be spent multiple times – a process called double spending.)
The system is completely compatible with the existing internet, albeit with a more concise and efficient consensus mechanism, which adds security, reliability, and a layered structure to increase the efficient use of the system.