Web3 terminal company has a huge sum of money to acquire Socrates.com!

According to overseas media reports, a foreign web3 company recently invested $600,000 (approximately 4.386 million RMB) to acquire and use the premium domain name Socrates.com. This website is being utilized for a blockchain project.

The Socrates.com domain name was registered in April 1994, making it more than 29 years old. Socrates is the name of the ancient Greek philosopher "Socrates," and it holds significant influence worldwide. Currently, when you visit the domain, it is in use, and the website indicates that Socrates is a global web3 social media and entertainment platform based on the Polygon blockchain. It combines social finance (Social-Fi) and gaming finance (Game-Fi).

1. What is blockchain?

Blockchain is a distributed ledger technology that stores, verifies, and records transaction data through a network of multiple computer nodes. Each data block (or "block") contains a series of transactions and is linked together in chronological order, creating an immutable chain. This decentralized system ensures the security and transparency of data, without the need for a single central governing authority. Blockchain technology has wide-ranging applications in various fields, including cryptocurrencies, supply chain management, smart contracts, and financial services, providing a more secure, traceable, and efficient means of conducting transactions.

2. What are blockchain domains?

You may have heard of blockchain domains, but do you truly know which ones belong to the blockchain industry?

The domain names we commonly use today are associated with the traditional DNS (Domain Name System), such as .com, .net, .cn, and others. "Blockchain domains," on the other hand, do not rely on the DNS system. They use decentralized domain name systems like Ethereum Name Service (ENS), Decentralized Account Systems (DAS), and Decentralized Domain Protocols (FIO). These blockchain domain systems use extensions such as .eth, .crypto, .wallet, .coin, .888, .x, and more. In essence, "blockchain domains" are recorded in a distributed ledger maintained by a group of computers, as opposed to being stored in a traditional centralized registry.

Currently, there are not many blockchain-related domains available in the market. Here are a few .com domain names related to the blockchain industry that we recommend: HiCrypto.com, BlockBank.com, and CoinMeta.com.