WNS - The Wallet Name System

“Basically what is needed is some way to judge the trustworthyness of signatures by people you don't know.“

Hal Finney : PGP Web of Trust Misconceptions 1994

The invention of the Wallet, a concept that rises from Distributed Ledger Technologies and Cryptocurrency systems has given users an opportunity for safer, less complex e-commerce transactions (mostly through the reduction of multi-party risk). But the benefits of these systems are lost when complex steps and new services are made necessary to adopt them.

Namespaces drive huge economies on the Internet, because they reduce complexity and increase usefulness. Wallet systems can be improved by attaching them to identifiers and namespaces that are already familiar to users.

A peer-to-peer Wallet Name System (WNS) allows networked namespaces and addressing schemes to interact directly with Distributed Ledger Technologies, without the need for a third party service provider or platform. We achieve this by 'aliasing' human-readable namespaces to the machine-readable 'wallet' strings used in Public Key Infrastructure through a cryptographic proof or 'certificate', issued through a consensus of authorities. Our method retains privacy where desired and also allows for verifiable public registries of wallet information to exist.

 

© Paul Harwood, Wallet Systems (paul at wallet.systems) 2018-2021