Spaces Protocol

Spaces is a domain name protocol that utilizes the existing infrastructure and security of Bitcoin, without the need for a new blockchain or any modifications to Bitcoin itself. "Spaces" is distributed as a community identifier through an auction process built using existing Bitcoin scripting functions. The revenue generated from the auctions will be irrevocably burned (destroyed). Within each Space, users can create "subspaces," which serve as personally identifiable entities that operate with a high degree of autonomy off-chain, but transactions can also be directly submitted on-chain.