The Blockchain Name Service (BNS) ecosystem will feature three types of addresses:
- Human-readable value names: Anyone who joins the BNS can create their own simple, personalized IOV Wallet address for holding and exchanging any and all digital assets in the ecosystem.
- Human-readable Blockchain names: Organizations will be able to register their own blockchain ‘domain name’, like the website addresses we type into browsers. These addresses will follow the same formula as personal addresses — so, for example, Cisco might name itself Cisco.iov. Once a business has created its own name, it will be able to add or manage individual employees’ accounts. The organization will then add it’s digital assets or tokens to the IOV addresses.
- Human-readable Digital Asset names: Users will be able to register their cryptocurrencies (ticker symbols like ETH, BTC), as well as non-fungible tokens (NFTs) — which are representations of unique values such as plane tickets, patents, real estate documents or cryptokitties.