Spaces Protocol founder Mike Carson argues that in light of the recent Squarespace DNS attack, domains should be decentralized and put on the blockchain.
As centralized domain incidents highlight security flaws, an executive argued that decentralized naming on the Bitcoin network would be a better alternative for domain names.
Mike Carson, the founder of the Bitcoin-based naming project Spaces Protocol, said everyone currently relies on trusted third parties for their usernames and domain names. However, an incident involving decentralized finance (DeFi) protocols relying on Squarespace’s registry system highlighted problems in the current setup.
On July 11, an attack on the Squarespace DNS registry affected over 100 crypto projects. The vulnerability threatened the DeFi space with phishing attacks, which resulted in funds being lost.
