What’s in a name? Well, if it’s a Bitcoin SV (BSV) wallet name, such as those seen on HandCash, RelayX or PayMail, the answer is everything. BSV has led the way to innovate cryptocurrency wallet addresses, hash codes that are typically 34 characters long. By allowing users to assign names to their addresses, they can simply tell someone to “send money to $bob on HandCash.” There was one element missing, though, which was how to send to “$bob” using a BSV wallet that didn’t understand $bob’s address. Similarly to how Domain Name Servers (DNS) allow users to type in coingeek.com to reach a particular IP address, something was needed for the naming solutions of BSV wallets. Enter Polynym, a conversion tool that takes the name — $bob — and spits out the associated wallet address.
According to its website, Polynym is “simple BSV address resolution for HandCash, RelayX and PayMail handles.” It was only recently introduced, but has already received a considerable amount of attention and is an incredible option for facilitating transactions across different BSV wallet types.
By entering $bob into the website’s interface, the associated QR code and hash address are both revealed. Copying the address allows someone to easily send funds to that address, without having to worry about memorizing the entire hash code. It is also beneficial for the wallet owner, as well, as it gives an easy, always-accessible interface to retrieve the hash address when making purchases with BSV.
Like many great developments in the past, Polynym was initially created in order to give backend developers additional support. However, word got out and it suddenly became popular across the entire BSV ecosystem.
Polynym has another benefit, as well. In order to determine if a desired name is already taken, BSV fans can simply visit the website, punch in the desired handle and hit enter. If the name isn’t taken, Polynym will say that the address couldn’t be found, which means it’s available and time for the user to jump on it before someone else scoops it up.
BSV developers are churning out new real-world applications on virtually a daily basis. Given the blockchain’s proven ability to handle large block sizes, thanks to Quasar, BSV is more robust and powerful than any other blockchain. It is quantum leaps ahead of the other networks, and even more exciting applications are coming.
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.
To receive the latest CoinGeek.com news, special discounts on CoinGeek Conferences and other inside information direct to your inbox, please sign up for our mailing list.