Portal Network is pleased to announce a strategic partnership with NEM Foundation, the smart asset blockchain built for performance.
About the Partnership
On 1st of October, Portal Network and NEM Foundation signed a strategic partnership agreement for a collaboration to establish the blockchain name service standard on top of the NEM blockchain. We believe that the naming standard will become one of the essential elements for NEM to enhance the overall user experience.
NEM Foundation is a solid blockchain infrastructure for business models and existing services. The design of NEM architecture consists of ‘REST API’, ‘Mosaics’ (customizable assets), ‘Multisig contracts’, and ‘messages’ which will simplify the utilization for developers. NEM Foundation and Portal Network share the same passion of succeeding mass user-adoption on blockchain technology.
What’s NEM Name Service (NNS)
NNS (NEM Name Service) is a domain name service governed by smart contract components that transform human-comprehensible domains, such as ‘yourwebsite.nem’, into addresses that are used to communicate among the decentralized network devices.
NNS removes the necessity to copy or type long hashed cryptographic addresses, enabling users to send and receive tokens with simple addresses like ‘myfriend.nem’ instead of a default address like ‘NDFRSC-6OVQUO-…..-’. Moreover, other extensible functions of NNS allow developers to interact with a contract at address like ‘mycontract.nem’ or visit a decentralized website hosted on Proxima X with a domain like ‘yourdweb.nem’.
What to expect
Portal Network is an incentivized and fully-decentralized platform that provides blockchain protocols and projects with identical Blockchain Name Service (BNS) standards governed by smart contracts. With the experience we have in this relative field, we will work closely with NEM Foundation to develop NNS standard as well as multiple surrounding products such as marketplace, browser extension and many more.
We have also built a product suite that allows both technical and non-technical users to create, deploy and experience the decentralized website and applications using our BNS (Blockchain Name Service). Portal Network will integrate these diverse features with NNS (NEM Name Service) in the coming future.
Thank you for reading.