How to buy Blockchain domain on Bitcoin Via RNS.
RNS is the acronym for RIF Name services; it is the first domain name service secured by Bitcoin network and also one of those services you need to run your application on the blockchain as it is the blockchain domain name provider on Rootstock that offers us the user experience we are already used to, similar to an email address it provides an easy to remember address for sending and receiving crypto instead of the long and complicated crypto addresses.
Steps to own one: SOVRYN FLOW
- Download MetaMask;( You can use any web browser wallet) but I used MetaMask and don’t forget to back up your 12 — word seed phrase. ( the 12 words were given to you when you created your wallet )
2. Add Metamask to your chrome extension
3. Navigate to Sovryn website
4. Click “Connect Wallet”
Connect your Metamask to sovryn
5. Select “Browser”.
I’m doing this on my desktop with my wallet extension so I clicked on Browser.
(You can click on Mobile if you are on your Metamask mobile wallet.)
6. Select “MetaMask”
7. Switch to tab “ MetaMask Notifications”
8. Click “ Configure RSK in MetaMask”
You will be prompted to switch to RSK Mainnet Network in your MetaMask wallet as MetaMask wallet is on ETH network by default.
I’m now connected to the RSK (Rootstock) network; my balance is 0 RBTC (token used to pay for the execution of transactions in RSK (Rootstock) ) Just like how we use ETH to pay for gas on Ethereum’s network.
I will have to fund my wallet
(You need RBTC gas and RIF token to pay for registration)
Sovryn FastBtc allows you to convert BTC to RBTC in a matter of minutes.
9. Double-click “Get started” to Fund your wallet on the sovryn platform in other to swap Bitcoin for RBTC.
10. Click on the “Bitcoin Network”
once you select Bitcoin network it generates a wallet address to deposit Bitcoin for RBTC from anywhere for a 1:1 BTC to RBTC swap
At this time the minimum amount of Bitcoin you can transfer per swap is 0.00050 BTC which is equivalent to $9 and the maximum amount is 3 BTC which is $51,531.
11. Click “Generate address” your deposit address is created, you can now send your Bitcoin using the address or QR code
I had Bitcoin on Binance so I sent some to the FastBtc generated address.
Few minutes later RBTC will be added to my wallet as I sent my Bitcoin from Binance to Sovryn FastBTC via the generated deposit address.
Sovryn FastBtc swaps the BTC for RBTC
Next step: RNS FLOW
- Navigate to RNS manager to get your .rsk domain name
2. Connect your wallet
Search for the domain you are interested in, check if it’s available then proceed to register
It will cost me 2 rif to buy Nancy.rsk for a year
1 RIF only cost $0.0510 for now.
You can pay for a year or more.
In other to get RIF token to make the purchase.
3. Navigate to Sovryn site
Make sure your wallet is connected.
4. Click “ Trade” and Select “Swap”
With Sovryn swap you can exchange your tokens.
At the moment we want to exchange RBTC token to RIF token to register the domain.
Once RIF has been added to your Metamask wallet;
5. Navigate to RNS manager request domain to be sure it is still available and register domain.
Wait until the transaction is confirmed (it will take less than a minute).
yayy!!! I am now the owner of nancy.rsk and I’m the only one that owns it on the Bitcoin network.
It won’t be available to any other person unless it expires and I don’t renew it.
Resources;
The Rootstock developer course is now available offering you the opportunity to become a blockchain developer; Learn how to code smart contracts in Solidity then compile, test, deploy, secure and verify them.
Their are benefits that comes with completing the Rootstock developer course + interesting ways to apply your new Web3 skills.
To get more important updates on Rootstock blockchain follow Rootstock on Twitter @RSKsmart
