# Overview

The VeChain Name Service links human readable domain names to VeChain addresses (.vet TLD). This helps users remember common addresses and, if used properly, can reduce phsishing cases and incorrect transfers. The goal of this initial version of VNS is to provide a proof of concept implementation that builds on existing ecosystem tools such as the VIP-181 standard.

## VNS Version 1

VNS Version 1 is quite limited in functionality and focuses on laying a platform for further iteration. Domain names will be transferrable to future iterations of the protocol, ensuring the protocol can trustlessly upgrade in the future as the contracts become much more robust and full-featured.

### Version 1 Features:

* Blind auctions: commit-reveal style.
* Start new auction for desired domain name.
* Bid on active auctions.
* Finalize auctions and mint domain to winning bidder.
* Transfer domain ownership.
* Set target address of domain.
* Add and remove subdomains.
* Set target address of subdomains.
* Enable auto-renewal of domain name.
* Deregister expired domain.

### Version 1 Disclaimer:

Version 1 was created as a submission for VeChain's dApp competition, as such, the contracts were created in a fairly short amount of time. There has been no audit and there exists a chance things will break. As such, it is not recommended to enter large bids for domains, unless you are comfortable with the chance of losing your funds.
