What is Starname? What Does IOV Do? – Cryptokoin.com

What is Starname? Starname (IOV) is a platform that provides blockchain-based and decentralized name services to users. cryptocoin.com We will examine Starname in this article. However, we will also answer questions such as what is Starname, what it offers, what is IOV coin, what is it for, how to get it, which are the subject of curiosity among investors. Now let’s examine this Blockchain project, which provides domain name service, together.

What is Starname?

Staname (IOV) is a name service built on Blockchain. This service is built on the Cosmos SDK. So it is located on the Cosmos network. The project allows anyone to buy crypto-based domain names. It also allows users to personalize these addresses and use them in all chains. For this, it works as an efficient platform for interoperability. The decentralized managed and hosted network works with the Tendermint Proof-of-Stake consensus mechanism.

Starname uses the “*star” address to provide name service to its users. For example, when you purchase a service under your own name, there is a *star at the end of that service. In this respect, it is similar to domain name services such as “.com”. Launched in 2018 by a Paris-based French company, the platform supports many blockchains today. Behind this interoperability is the influence of Cosmos, which works entirely in this field.

What does Starname offer?

Users who purchase a suitable name service on Starname’s platform gain access to a range of features and benefits. First of all, usernames have a customizable structure. In other words, users have a number of rights, such as changing their global username as they wish. However, addresses work on almost any chain. This interoperability eliminates the need for users to switch to other Blockchains to transact. Other advantages that Starname offers are as follows:

  • Purchasing cryptocurrencies through usernames ending in “*star”,
  • Hosting and managing digital assets in an easily accessible way with the Starname profile,
  • Transfer value quickly, easily and cost-effectively, thanks to Cosmos’ Blockchain technology.

What is IOV coin? What does it do?

IOV coin is the native cryptocurrency of the Starname platform. This cryptocurrency is a utility token that enables name service sales and the execution of transactions on the Blockchain network. All capital generated by the service is distributed to IOV coin holders and participants. In this way, the ecosystem makes it a completely decentralized project and provides incentives. The effectiveness of the Starname service is directly reflected in the token value. In other words, the use of the ecosystem leads to an increase in the value of the token.

What is Starname? How to get IOV coins?

Starname is currently only traded on the Hotbit exchange. Therefore, investors interested in IOV should access this cryptocurrency exchange. After that, it is possible to obtain the token by following the steps to become a member and purchase.

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