IOV Announces the Creation of a Blockchain Name Service to Empower the Next Generation of Blockchains
IOV introduces a blockchain and a protocol, which provides human-readable addresses meant to simplify sending and receiving cryptocurrencies and tokens.
IOV SAS, a Paris-based blockchain startup, introduces a suite of technologies, which aim to improve the way cryptocurrency holders send and exchange value.
“When it comes to actual end-users, blockchain platforms have failed to solve the user experience problem around wallet addresses,” observed Isabella Dell, co-founder of IOV. “With the explosion of blockchain-based assets and the potentially game-changing effects this will have on the way people transact, IOV will be as important to blockchain as Web standards have been to the adoption of the Internet.”
The company is announcing the creation of a DNS-like system for blockchains, the Blockchain Name Service, or BNS. As the first global decentralized blockchain address registry, BNS would offer several benefits.
- Human readable addresses: While traditional blockchain addresses (e.g. 17Rts7fvY9Co2kja4DirzAbFX57j858yfx) are hard to remember, painful to transmit, and prone to error, BNS introduces human-readable addresses such as isabella*iov.value, which are memorable and easy to share.
- Blockchain wallet interoperability: While users handling multiple cryptocurrencies and tokens are forced to manage different wallets, BNS operates across blockchains, allowing users to receive value from different blockchain networks on the same BNS address.
“The Blockchain Communication Protocol takes blockchains out of the dark ages of 34-character addresses and QR codes, and propels the industry towards the future,” says Antoine Herzog, Co-founder of IOV. “Mass adoption of the Internet began in the mid-90’s as Web, and email addresses became widespread. We believe a universal and human-readable address format is essential for cryptocurrencies to gain adoption by consumers and brands.”
The IOV Token, the fuel of the Blockchain Name Service, will be used by the BNS to pay the fees required to update and maintain the address registry.
“IOV is an opportunity to empower people and give them access to the blockchain technology with a simple and secure user experience,” concluded IOV Co-founder Karim Ganem.
An influential leader in the blockchain world, Isabella Dell has conducted several successful implementations of technical infrastructures. In 2016, she was the first technical employee at Lisk, one of the top 20 blockchains in the world, and launched successfully their mainnet. After having watched first hand the birth and growth of a blockchain, she was ready to launch her own project. Karim Ganem and Antoine Herzog are serial tech entrepreneurs and won a Cosmos Blockchain Hackathon in 2016, which started their idea about IOV. All together, they founded the French company IOV SAS in March 2018. IOV’s mission is to make the blockchain technology easy and secure to use, to allow anyone to create their own blockchain and integrate it into a global ecosystem.