Today, there is only one solution for mapping Cardano Wallets to a human readable format. Its limited to wallet mapping only, and had no solution for protecting known people/entities from having their names stolen. With the platform evolving at break neck speeds, there will be important people who join Cardano, only to find that their known name had been taken long ago, and a high likelihood of extortion for getting those names back.
This solution would not only put a checks and balances system in place, it would vastly expand upon this for full user identity, and external internet domain mapping; effectively making it akin to domain registration.
The primary goal of this proposal is to develop a smart contract, that creates an easily accessible ledger of registrations. Registrations would be bound to the wallet that creates the registration, thus eliminating any potential for reselling a taken name. It would also have built in expiry, requiring renewal within the term, or the registration ends, freeing it back up.
The high dollar amount being requested would be for ICANN registration of the top level domain .ada. The proposed solution would allow for creation of identities using .ada (i.e. cnfthub.ada). It costs ~$250,000 to complete an ICANN registration, as well as proving a proper infrastructure to maintain DNS servers supporting the top level domain. If this proposal is funded, we would work with IOHK and Cardano Foundation to ensure a complete and scalable implementation.
The process flow is as follows:
1) User/company selects an available domain name, and submits a nomination for themselves to become the holder of the domain. They will pay a nominal fee for their new domain name.
2) Domain name is reserved, with a timeout of 7 days. An API will be created to view all currently nominated names.
3) If there is a conflict, a system will be developed to resolve the conflict. (There are several potential concepts that can be used for this; whether it become an open bidding system, or creating a unbiased council to resolve them, using tokens to approve/decline a registration. If its a council, we would work with Cardano Foundation, and IOHK to develop this council).
4) Upon successful election of a domain name, an entry will be added to the blockchain ledger that assigns the domain to the purchasers wallet for a period of 2 years. Once assigned, the wallet it has been assigned to cannot be changed. This should eliminate scalping.
5) Between the period of 18 months to 24 months after registering, a domain holder can create a request to extend their registration for 2 more years.
Once a domain is registered, it can be used for anything from as little as a human readable address for wallet mapping, to as much as full DNS registrations for a corporation. The additional goal will be to leverage the Atala Prism framework to create a full identity management solution for these registered names.
If an ICANN top level domain can be secured, we would develop an open source API solution, and an open source linux distribution, that can contain the DNS entries for the top level domain .ada. The ongoing funding for maintaining the global DNS server systems will come from ongoing domain registrations. With the code open source, it would be possible for anyone to run their own DNS server for more expeditious domain name resolution.
The wallet that is assigned to the domain will have the ability to update and add DNS entries to the ledger (which will subsequently propagate out to the internet DNS servers via API). This will allow for any type of DNS Entry, A, MX, SRV, etc. This will allow for a corporation to leverage their registered domain like any other pre Web3.0 domain name.
This proposal will create a self service identity management solution, with built in protection from bad actors. It will be both easy to use, as well as fully open source, so that every person has a level playing field for leveraging it. It will allow for the establishment of personal and business usage beyond the walls of the blockchain.
The most significant risk will be completing the ICANN registration for the top level domain ICANN. Because there is a high probability of conflict resolution, we would seek the assistance of IOHK and Cardano Foundation in creating the application for the TLDN. We would also intend for them to become the trusted owner of the same.
Every other element in this proposal is well within the capabilities of the proposers, and no risks would exist for implementing the solution, regardless of gaining the TLDN.