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User Name System UNS
The Newcoin Network is tokenised through NFTs that represent units of ownership of the decentralised computer that can be purchased by its co-owners.
In order to sell real estate on the platform, users needs to acquire a license by staking $NCO into the infrastructure pool and receive validation from the Newcoin Platform DAO.

Account issuer license

With an account issuer license, a Newcoin member can create accounts for new users to join. App developers are the main target for account issuance accounts, but it's not mandatory and anyone who purchases a license with approval from the DAO is allowed to register new users into the Newcoin blockchain. Account issuers can monetise by charging on-chain or off-chain (for example through in-app purchases) and receive additional rewards from the system based on the average stake per user registered through them.

Name extensions

In order to be easily memorable, each public key on the Newcoin blockchain will have a username under an extension. For example alice.nco
Extensions will be available according to an NFT auction system, where the owner of a specific extension (or account issuer) will be able to commercialise usernames under such extensions.
For example, the owner of the extension .btc will have the ability to issue and sell usernames such as alice.btc or jack.btc like in the domain name market.

Benefits of the UNS model

  1. 1.
    Sybil resistance as it costs something to create an account
  2. 2.
    More chances to find short and good names, for example if alice.lol is taken, there is still going to be alice.nco or alice.luv available.
  3. 3.
    As name extension owners have skin in the game, they will make sure the account created are genuine and add a SPAM protection layer at the inception of the account creation.
  4. 4.
    Community-driven identities where extension owners would build real brands and would be selective as to who would register usernames under their brand
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Last modified 1mo ago