Muneeb Ali, Co-Founder and CTO of Onename, talks about Name Registrations on the Bitcoin Blockchain.
“Cryptocurrency blockchains like Bitcoin and Namecoin have seen significant adoption in the past few years, and show promise as zero-trust, decentralized key-value stores. Users can securely store and retrieve information, as only the owner of a particular private key can write/modify the data. In theory, many decentralized systems can be built using cryptocurrency blockchains, such as decentralized DNS or PKI. As the technology is relatively new and evolving rapidly, little production data or experience is available to guide design tradeoffs.
In this talk, we describe our experience operating a large, real-world deployment of a blockchain ID registration service. We present various challenges that we needed to overcome while registering/updating over 33,000 users in our first implementation on the Namecoin blockchain. We discuss how our initial experience informed the design of a new blockchain-based key-value store, Blockstore. We detail why we changed from Namecoin to the Bitcoin blockchain for the new system, as well as operational lessons from this migration. Blockstore is open source and available at http://github.com/blockstack/blockstore”