Last Updated on August 16, 2022
- Beam Anonymous Domain Service (BANS) officially launches its decentralised app on August 17.
- The company is joining a list of companies that have ventured into the Web3 domain service space.
- BANS secure identity service features an annual subscription fee starting from $10 to $320.
Beam Anonymous Name Service has announced the launch of its Web3 identity service on Beam Blockchain. The company said Tuesday its BANS decentralised app will debut on August 17, allowing users to create their own personalised identities and easily scalable addresses on the Beam blockchain.
Announcing the launch via a Medium blog post, the company wrote: “The BANS DApp will allow for the purchase of addresses ending in .beam for example privacy.beam, 1337.beam, and anything else you wish to use that has a minimum of 3 alphanumerical characters.”
Web3 identities utilise non-fungible token (NFT) technology allowing users to create unique profiles on the blockchain. The domains look similar to URL domains, but because of decentralisation can be accessed by the public in a similar way global users can visit a website.
BANS said it will be accompanying the BANS DApp launch with Beam Space to talk that will discuss the importance of Web3 identity and the critical role BANS plans to play in both Beam blockchain and the broader crypto sphere.
The BANS IDs will be offered to the community in a fair manner, allowing users to compete for their preferred choices without restrictions on a first come first served basis.
The $BEAM identities will also be used for trading the Beam ecosystem token $BEAM, the company announced earlier in June.
Those looking to run a BANS ID will be able to mint it using a Beam Wallet’s dedicated DApp, with payments billed in $BEAM. The company said that all proceeds will be deposited into the BeamX DAO treasury, the body charged with governing the Beam Blockchain project.
The pricing for the anonymous name service will vary depending on the number of alphanumeric characters used.
- 5+ character.BEAM names: $10 in BEAM per year.
- 4 character.BEAM names: $120 in BEAM per year.
- 3 character.BEAM names $320 in BEAM per year.
Users will need to pay for at least 1 year of subscription when registering, with subsequent annual renewals scheduled for a similar amount. They will have 90 days to reclaim their BANS IDs upon expiration.
BANS service is slightly different to the one Web3 identity service offered by Unstoppable Domains. While the BANS service is clearly hosted on the Beam Blockchain, based on the extension, Unstoppable allows users to create completely unique web3 addresses, with a one-off payment starting from as low as $5.00.
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