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Sats Names: Establishing an Ecosystem for Bitcoin Domain Names

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On March 7, according to the data of Dune Analytics, more than 53000 Bitcoin. Sats domain names developed based on the Ordinals protocol have been minted. The …

Sats Names: Establishing an Ecosystem for Bitcoin Domain Names

On March 7, according to the data of Dune Analytics, more than 53000 Bitcoin. Sats domain names developed based on the Ordinals protocol have been minted. The number of independent domain names after the duplication has reached 42000, and the number of independent casting addresses is close to 24000, resulting in a cost of 105 million SATS (about 23000 US dollars). Sats Names is the standard for writing names into Bitcoin using ordinal numbers. The goal is to establish a domain name ecosystem for Bitcoin. The first domain name “helloworld. sats” was registered on February 22, 2023.

More than 53000 Bitcoin. sats domain names developed based on the Ordinals protocol have been minted

Analysis based on this information:


The recent data from Dune Analytics reveals that more than 53,000 Bitcoin Sats domain names have been developed based on the Ordinals protocol on March 7, 2020. This has resulted in a cost of 105 million SATS, which is equivalent to about $23,000. As a result of this, the number of independent domain names has reached 42,000, and the number of independent casting addresses is almost at 24,000.

Sats Names is a new approach to providing domain names for the Bitcoin community that uses ordinal numbers as a standard for writing names into the blockchain. The primary objective of Sats Names is to create an ecosystem of domain names for Bitcoin similar to what has existed in the traditional Internet.

The Ordinals protocol is the backbone of this naming system, which encodes domain names into the Bitcoin blockchain. The protocol generates a unique and permanent name that can be registered by anyone in the Bitcoin community. Furthermore, this approach eliminates the need for centralized registration authorities or certificate authorities to authenticate domain names.

Sats Names is designed to offer several benefits to the Bitcoin community. For instance, it can improve the user experience of Bitcoin, as domain names can be easier to remember and use in day-to-day transactions. Furthermore, Sats Names can also help to reduce the risk of fraud that may occur in cases where users misspell long Bitcoin addresses, which can result in funds being sent to the wrong recipient.

The first domain name “helloworld.sats” was registered on February 22, 2023, which indicates that the ecosystem of domain names for Bitcoin is growing exponentially. It will undoubtedly take time for Sats Names to develop and become widely adopted by the Bitcoin community. However, this new initiative is a significant step in the evolution of Bitcoin as it continues to mature as a financial system.

In conclusion, Sats Names promises to establish an ecosystem for domain names in the Bitcoin world, and its adoption rate is growing rapidly. Although it may take some time for it to become the standard approach to using domain names within Bitcoin, it shows promise to provide many benefits to users and increasing the accessibility of Bitcoin.

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