Domyn: A Decentralized Domain Name Marketplace Using Blockchain and NFTs

Abstract

The conventional space title industry is overwhelmed by centralized recorders that force tall recharging expenses, limit possession rights, and show security vulnerabilities due to single focuses of disappointment.This paper presents Domyn, a decentralized space title commercial center leveraging blockchain innovation and NFTs (Non-Fungible Tokens) to empower genuine possession of advanced spaces.Built on the Ethereum blockchain, Domyn utilizes ERC-721 keen contracts to tokenize space names, permitting clients to mint, purchase, offer, and exchange proprietorship without mediators.Furthermore, IPFS (InterPlanetary Record Framework) guarantees decentralized capacity, making the framework censorship-resistant and tamper-proof [8].Through an in-depth investigation of its design, exchange stream, and savvy contract execution, we illustrate Domyn's capacity to supply security, straightforwardness, and productivity compared to conventional space enlistment centers.The paper assist presents execution measurements, test case comes about, and a security assessment to approve the viability of the proposed framework.We moreover investigate future upgrades, counting Layer 2 scaling arrangements and multi-chain interoperability, to progress gas proficiency and selection.