Aptos has recently announced the launch of its domain name renewal service, which is seen as a crucial step in ensuring users maintain ownership of their digital identity.
The company, known for its layer 1 blockchain and smart contract platform, was founded by former Facebook Diem engineers.
With a scalable Proof-of-Stake blockchain and the Move programming language, Aptos aims to provide high throughput and robust security for smart contracts.
Notable features include enhanced security through resource objects, a Byzantine Fault Tolerant consensus mechanism, and a multi-stage transaction processing system.
https://twitter.com/aptosnames/status/1706774045352718586
Web3 domain name services
Traditional domain name services are widely known for their centralized nature. However, with the advent of Web3 domain name services, there is a significant shift towards decentralization and censorship resistance.
Web3 domain name services, also referred to as NFT, crypto, and blockchain domains, leverage blockchain technology to provide users with personalized and manageable domains.
Prominent services in this domain include Unstoppable Domains, Ethereum Name Service (ENS), Freename.io, and Web3 Name Service, each offering distinctive advantages.
These Web3 domains serve a multitude of purposes, such as facilitating secure login to the decentralized web, constructing digital identities, accepting payments, and building Web3 websites.
The advancements in blockchain technology enable users to explore new dimensions of online presence and maintain control over their digital assets.
Free one-year renewal
Aptos has announced that domain names can be automatically renewed within 6 months of their expiration date. Users who registered their domain names before March 6, 2023, will be eligible for an extra 1-year renewal.
However, it’s important to note that if a domain name is listed for sale on an NFT marketplace, it will not be visible in the “Renewal Promotion Page” view. To take advantage of the free renewal offer, users must first remove the domain name from the NFT marketplace.
Aptos has also provided details on the pricing for renewals. The renewal cost for domain names with 3, 4, 5, and 6 characters will be 20 APT, 10 APT, 5 APT, and 1 APT respectively.
In order to give users ample time, Aptos has implemented a 30-day grace period, allowing them to renew their domain names within 30 days from the day of expiration.
