The development of blockchain technology as well as the crypto market leads to an increasing demand for NFT expansion and based on those advantages, the establishment of specific and effective standards is being paid attention to and researched for improvement through many stages. The idea is simple and seeks to create a smart contract interface that can represent and control any number of fungible and non-fungible token types

Back in the days, when the Internet wasn’t so mainstream, one of the main problems that users faced was that domain names hadn’t been matched up to Internet protocol (IP) addresses. This made them very unfriendly towards the average Joe, who had to type in the IP address of the website they wanted to visit, as in to literally type in the numbers.

ERC-20 (short for Ethereum Request for Comments 20) is a standard developer's use for deploying tokens on the Ethereum network, which has the ability to interact with smart contracts.

Firstly, we’d like to again express our heartfelt gratitude towards the XTech community, including our dedicated users and innovative developers, for their unwavering interest and support. Your contributions have been invaluable in helping us advance our platform. The importance of our community cannot be overstated; your engagement and feedback fuel our progress.

𝕏 was launched in March 2006 and quickly became one of the leading social media platforms worldwide. Founded by Jack Dorsey, Noah Glass, Biz Stone, and Evan Williams, the initial idea behind Twitter was to provide a service for people to share brief thoughts through short text messages of no more than 140 characters, called "tweets." However, in 2017, this limit was expanded to 280 characters per tweet.

The core goal of Web3 is to restore ownership and control of data to individuals rather than centralized agents. This shift in philosophy has profoundly impacted areas such as payments and multinational finance. However, the transition from Web2 to Web3 could dramatically affect how social networks operate:

Blockchain technology is permeating every aspect of life, offering innovative and effective solutions across diverse industries. The domain name industry is no exception. The integration of blockchain into the traditional domain name system holds immense potential, promising enhanced security, transparency, and efficiency in domain management.

Since 2023, ENS (Ethereum Name Service) has been on a roll, making big moves. In November 2023, they launched the EVM gateway showing they are pushing the envelope in Web3, which elevates interoperability between Layer 1 and Layer 2 chains. Soon after they even reached out to Unstoppable Domains with an open letter, sparking conversations across the crypto community regarding patent issues.

Web3 is a platform of future technology and has received a lot of attention recently with many different applications for internet users. XTech understands that users are tending to switch to new, more useful technologies and will bring a more unique Web3 with Name Service utilities.