.SATS domain names by Bitcoin Ordinals
With the initiation of the Bitcoin Ordinals project, it is now possible to register domain names directly on the Bitcoin blockchain. Sats Names establishes a standard for registering names on Bitcoin through Ordinals. The ultimate objective is to create a name ecosystem for Bitcoin, developed and maintained by Bitcoin enthusiasts.
The Sats Name System (SNS) has formalized this process, introducing the first JSON protocol on the Bitcoin network and introducing the .SATS namespace. Today, SNS has gained widespread adoption and has catalyzed the emergence of numerous namespaces and JSON meta-protocols on the Bitcoin platform.
These are the guiding principles of the SNS project:
1. All namestate resides on the Bitcoin mainchain
Bitcoin transactions, and only Bitcoin transactions, are all that is required for registering and updating names. A Bitcoin node contains all the necessary information to manifest the complete namestate. No other databases or trusted services are necessary. Any client can independently compute the true state of all names.
2. The standard shall remain credibly neutral
No gatekeepers: Nobody can deactivate the standard or block others from registering names. There are no smart contracts or front ends with privileged access. No tokenomics. No premine. No gas token. No governance. No perverse incentives.
3. The first registration of a name on Bitcoin establishes ownership
For instance, the initial user to register an ordinal containing "satoshi.sats" possesses that name and the rights to update it. With ordinals, anyone can write any data they desire, including duplicate names. This may result in collisions and competing factions of naming standards.
Engaging in disputes over various standards is a misuse of our community's energy. There is only one neutral, objective method for resolving collisions: First come, first served.
Why should you own an SNS Name?
Name systems play a crucial role in our online existence, but they typically fall under the control of centralized companies. A Bitcoin-based naming system has the potential to transform online identity by providing names secured with the robust security and decentralization of Bitcoin. We envision a future where numerous wallets, marketplaces, and applications emerge, built around the SNS standard.
The most popular SNS namespaces are:
.SATS and all SNS names can be transferred and traded
All SNS names are essentially Ordinals and are tradeable commodities. The wallet that possesses the initial occurrence of a name will be recognized as the current owner by our indexer. You have the option to register domains through us and subsequently transfer them to your personal Bitcoin address or someone else's Bitcoin address. Only the transaction fees are applicable.
Can someone stop or seize .SATS domains?
All .SATS and SNS-based domain names operate on the Bitcoin base layer. In the same vein, just as no one can forcibly seize your Bitcoins, no one can forcibly confiscate your .SATS domains. Bitcoin stands as one of the most secure systems globally, safeguarding hundreds of billions in value. There is no more censorship-resistant system anywhere in the world.