The NNS will be governed by the NEM blockchain and eliminates the need to copy or type long cryptocurrency addresses. With the NNS, users are able to send tokens by using a human-memorizable address (e.g alice.nem), instead of a complicated default address like “ndp7a3-gduoh5-h5ffv3-pxfuau-hls4ne-oy6x3k-zi3v”.
With the NNS users will also be able to visit a decentralised website hosted on ProximaX(decentralised storage) with a domain like “yourwebsite.nem”.
Among the terms of the agreement, Portal network will:
- Be responsible for the development of NEM Naming Service (“NNS”) and NNS explorer
- Work on the deployment of the NNS resolver contract
- Formalise the NNS for IPFS hash
- Integrate the NNS into Portal Network’s chrome extension
- Integrate NNS into a web builder to allow users to easily build and deploy websites
- Implement the NNS into a marketplace to facilitate trades of domain names
“We are excited to work with NEM and bring decentrailsed domain names to the awesome NEM community. With NEM Name Service, interaction with NEM will be made a lot easier,” said Christopher Shen, Founder & CEO of Portal Network.
Portal Network is an incentivised and fully-decentralized platform that provides blockchain protocols and projects with ‘Blockchain Name Service’ (BNS) standards governed by smart contracts. They have already successfully deployed BNS-compatible systems like WNS (Wanchain Name System).
In addition to Portal Network’s Blockchain Name Service (BNS) technology, Portal Network has developed a product suite which allows both technical and non-technical users to create, deploy, and experience decentralized websites (DWeb) and applications (DApp).
About Portal Network
Portal Network solves the problem of user adoption, complexity, human error and lack of interoperability by deploying BNS standard across multiple blockchain protocols.
About the NEM Blockchain Platform
NEM is an out-of-the-box enterprise-grade blockchain platform which launched in March 2015. NEM has industry leading blockchain features that include: multisignature account contracts, customizable assets, a naming system, encrypted messaging, and an Eigentrust++ reputation system. Companies with legacy systems can “plug ‘n play” with NEM.
About the NEM.io Foundation Ltd
NEM.io Foundation is registered in Singapore and is operating globally. It was launched to promote NEM’s blockchain technology worldwide. It is one of the most well-funded and successful blockchain technology projects in the cryptocurrency industry.
Originally published at medium.com.