Introducing Name Bazaar
A peer-to-peer marketplace for the exchange of names registered via the Ethereum Name Service
Today we are thrilled to announce the long awaited public launch of our second marketplace and district, Name Bazaar, to the Ethereum mainnet. Work on Name Bazaar began immediately upon the close of our network fundraiser in August, and this release represents the culmination of many hours of effort from all district0x team members.
At its core, Name Bazaar allows for peer-to-peer, trustless exchange of cryptographic assets on the blockchain in the form of ‘names’, or Ethereum Name Service (ENS) domains. It serves as a prototype framework for a vast collection of marketplaces to come to the district0x Network in the future.
How Does it Work?
The ENS system contains a registrar and auction process which allows any Ethereum user to register and acquire a name via auction. However, no resale mechanism is provided, meaning once a name is registered and owned, the owner has no way of trustlessly transferring ownership of the domain on the blockchain through smart contracts.