Algorand Name Service Receives Algorand Foundation Grant Funding

Algorand Name Service is the latest Grant recipient

Since launching the Algorand Foundation Grant Program, the project team has received many submissions, globally, from developers and innovators eager to participate in the expanding Algorand Ecosystem. After a thorough review and selection process, Algorand Foundation announced Algorand Name Service as the latest Grant recipient.

Algorand Name Service (ANS) is a decentralized naming service designed for the Algorand community, with an Algorand smart contract used to store names and govern the naming policy. 

Wallet addresses are impossible to remember and they add friction to user interactions in the Algorand ecosystem. ANS presents tools and infrastructure for Algorand users to register a public .algo name (such as bob.algo or alice.algo) for their wallet address and to use the .algo names to refer to their wallet addresses in subsequent interactions.

ANS launched on mainnet on February 25th, 2022, and is already helping NFT explorers and marketplaces (such as Rand Gallery and Codex NFT) and NFT analytics platforms (such as Asalytic) to enhance search and user experience. The ANS team is thrilled to join the ecosystem and is enthusiastically looking forward to building partnerships with DApps and services on Algorand.

The developer grant awarded by Algorand Foundation will help the ANS team in building the ANS marketplace, the ANS DAO, and in launching the ANS token for governance. The ANS marketplace will provide a safe and reliable place for ANS users to buy/sell names that have already been registered. And, the ANS DAO will enable the Algorand community to govern and operate ANS’s infrastructure and treasury, allowing Algorand community members to build new tools, DApps, or services, all funded by the ANS treasury.

“The Algorand community is growing at an incredible pace and the Algorand Name Service is meant to welcome new users with the type of name service everybody expects in a crypto platform: decentralized and community-governed! We’re thrilled with the opportunity to iterate with Algorand community members and we are extremely grateful for the invaluable feedback we received over the past few months.” – Sai Medury, Co-Founder & Researcher, Algorand Name Service.

The Algorand Name Service’s mission is to empower the Algorand community with decentralized tools and infrastructure for building and governing community goods, with the name service as just the first offering, with more Dapps to come. The ANS team is passionate about the decentralization of authority and believes that all wealth accumulated from providing public goods for the Algorand community must also be managed by the community. 

“The ANS team initially started their journey with Algorand by demonstrating their initial prototype at the Encode x Algorand Hackathon in October 2021. The ANS team won 2nd prize at the hackathon and were accepted to participate in the recent Encode x Algorand accelerator program, where they continued to iterate and improve the prototype of their project. We’re delighted to welcome Algorand Name Service to the Algorand ecosystem. Their decentralized naming service will provide a much-improved user experience for wallet holders and the entire Algorand community.” – Addie Wagenkneckt, Algorand Foundation Head of Global Ecosystems and Technical Operations.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join CoinCu Telegram to keep track of news: https://t.me/coincunews

Follow CoinCu Youtube Channel | Follow CoinCu Facebook page

Hazel

CoinCu News