ZNS is Coming! — The First Layer 2 Domain Name System
Dear ZKSpace community,
After months of research and development, we are excited to announce that ZNS (ZKSpace Name Service), part of the infrastructure of our Layer 2 ecosystem, is now open for application!
First, let us brief you about what exactly ZNS is, and what value it provides.
I. What is ZNS?
ZNS is a Layer 2 domain name service provided by ZKSpace. You are free to register and manage your ZNS domain name, which will represent your Web3.0 identity in ZKSwap, ZKSquare, ZKSea and other Layer 2 products to be launched by ZKSpace in the future.
Similar to ENS on the Ethereum mainnet, the role of ZNS is to map 42-bit wallet addresses to human-readable names. While an ENS name ends with .eth, a ZNS name ends with .zks. With any ZNS name, your secure and decentralized transactions on ZKSpace will no longer require copying and pasting long and complex addresses.
For example, when you use ZKSquare to transfer money to your friend Kevin, instead of entering a lengthy wallet address of the recipient, you fill in their domain name, which could be “Kevin.zks”. Then the system will automatically translate it into the corresponding address of Kevin’s, and send the money. Conversely, you can ask your friends to send money to you by telling them your address is “me.zks”.
It reduces the likelihood of any input errors when typing out or pasting the recipient’s address to send funds. You don’t even need to check the first few and last characters to ensure that you have the whole string, like most of us do after pasting an address. The risk of asset loss will be exponentially decreased.
ZNS is part of the infrastructure of ZKSpace’s Ethereum Layer 2 ecosystem, which builds a bridge between the complex blockchain computer language and human language. It not only makes all economic activities that take place on the platform more convenient and efficient, but also is a very convenient identity symbol for holders to spread and remember.
Some major public chains represented by BNB Chain have also launched domain name services, such as .bnb. However, if Layer 1 domain name owners want to change any information associated with the name, they need to pay an expensive gas fee and wait for block confirmation, which is not a friendly user experience.
II. What’s new about ZNS:
1. ZNS is the first domain name service based on Ethereum Layer 2. You will get a Layer 2 exclusive Web 3.0 identity by holding a ZNS name, and anyone can search for an address owned by you via this domain name.
2. Support reverse resolution. ZNS supports the same reverse resolution function as ENS. You can display personalized domain names (xxx.zks) in all ZKSpace Layer 2 products, such as ZKSwap, ZKSquare, ZKSea, ZKSpace Explorer, etc.
3. No gas fee. What you do with your ZNS name, including registering domain names, changing personal information, or renewing registration, incurs no gas fee.
4. Low registration costs. The registration costs of ZNS domain name are much lower than ENS, and it offers discounts for registration periods of 2 years or more.
III. What does it cost to register a .zks domain?
Currently, registration costs are set at the following prices:
3+ character .zks names: $100 per year
4+ character .zks names: $30 per year
5+ character .zks names: $5 per year
You can register on an annual basis. If you register for 2 consecutive years or more, you will enjoy a 20% discount on the total price (for renewals of 2 years or more, you will also enjoy a 20% discount).
If you register directly for 3 years or more, you can buy out the domain name permanently (If the total term after renewal reaches or exceeds 3 years, you can also buy out the domain name).
IV. Early Bird Registration:
Be the first user to grab one exclusive ZNS name! The ZNS names will be offered through early bird registration. During early bird registration, you can join the ZKSpace community and complete simple tasks to obtain a whitelist spot for ZNS sale.
The time of ZNS sale will be released later, so please stay tuned! When it comes, WL users will be able to pick and register their unique ZNS domain names. The ZKSpace team does not reserve any domain names for themselves, nor does it have any pre-registration. We will open registration for all WL users at the same time.
The ZKSpace (formerly ZKSwap) platform consists of three main parts: ZKSwap, the first Layer 2 AMM DEX utilizing ZK-Rollups technology, payment service ZKSquare supporting fast and cheap Batch Transfer, and an NFT minting center and marketplace ZKSea. ZKSpace has been running since February 2021 with hundreds of function iterations, and no security incidents have ever occurred. With innovative NFT L1-L2 transfer, unlimited token listing, cheap and smooth deposit & withdrawal and optimized efficiency, ZKSpace aims to implement EVM-compatible ZK-Rollups and bring the community more Layer 2-based products in the near future.