Terminology

  • .BIT, generally refers the entire .BIT project.
  • .bit account, refers to each individual account, e.g. alice.bit, bob.bit.
  • .bit domain, is another name for a .bit account.
  • Registration, refers to the process of obtaining a .bit account by paying fee to the .bit contract.
  • Owner, each account has an owner, who owns the .bit account and can modify the owner and administrator.
  • Manager, each account has an manager, who owns the .bit account and can modify the account's record.
  • Record, every data associated with a .bit account, such as a BTC address, a Twitter account,etc., is called a record.
  • Registration Fee, there is a cost of annual fee for holding a .bit account, which varies for accounts with different character lengths.
  • Storage Fee, each account's record is stored on chain and requires a fixed size storage space, so a storage fee is required. The storage fee will be refunded when the account is reclaimed.
  • Inviter, any .bit account can be an inviter. For registration, you can get a discount after filling in an exisiting .bit account as an inviter; Others also can get a bonus when they fill in your .bit account as an inviter while registering for their accounts.
  • Channel, any product that integrates with .bit registration service (such as a wallet) can be called a channel. If a user completes the registration process through a channel, the channel can earn part of the registration fee.
  • Registrar, an organization/individual that provides a registration interface and payment methods for users.
  • On-chain time, the time on the blockchain, which usually lags slightly behind real world time and does not pass as evenly as real world time.