Sats Names provide human-readable domain names associated with Bitcoin wallet addresses, which supports identifiable Web3 identities within the Bitcoin ecosystem. It establishes a naming standard using ordinals and aims to create a Bitcoin-based naming ecosystem developed by its users.^[1][2]

Overview

The Sats Names System (SNS) is a standard for creating names on the Bitcoin network using ordinals, with the aim of developing a naming ecosystem by Bitcoin users. Launched on February 22, 2023, SNS formalized early naming practices and introduced the .sats namespace, leading to notable adoption and the emergence of additional namespaces.

All name data is stored on Bitcoin, with registrations and updates conducted solely through Bitcoin transactions. SNS operates without gatekeepers and follows a first-is-first rule for name ownership. As of now, over 400,000 .sats names and more than 1.8 million names across other namespaces have been recorded, with integration into various ordinal marketplaces and ongoing community interest in expanding the ecosystem.^[1][2][3][4]

SNS Spec

The Sats Names System (SNS) utilizes namespaces, such as .sats, to categorize names within the Bitcoin ecosystem. Over 100 communities have initiated namespaces, which require operations for consistent tracking.

Namespaces are unique, with only the first inscription being considered valid. Users can register names by inscribing ordinals, such as "satoshi.sats," while advanced registration allows for additional JSON5 data. Validations aim to ensure that the first instance of each name is recognized, adhering to the "first is first" principle.^[5]

Use Cases

The Sats Names System (SNS) is still developing, and while its full range of applications is not yet defined, several potential use cases have emerged:

• Replace Bitcoin Wallet Addresses: Users can substitute long wallet addresses with easy-to-remember .sats names, aligning with traditional domain naming conventions.
• Social Media Handles: .sats names can be utilized as handles on platforms like Twitter or Nostr, potentially increasing visibility and promoting the SNS project.
• Collectibles: NFT collectors can hold .sats names as collectibles, trading them on Ordinals marketplaces, with some names reportedly fetching high prices.^[2]