1.3 Terminology

Handle: This term designates a unique non-fungible token (NFT) ERC-721, which serves as a personalized identifier appended with a .₿ suffix, also known as the Parent Handle. For example: nakamoto.₿

Sub-Handle: This term refers to a unique NFT ERC-721 associated with a parent handle, distinguished by a .₿ suffix. For example: satoshi.nakamoto.₿

Expiration Timestamp: This timestamp is determined using the block.timestamp for the handle. Subsequently, the timestamps are converted to human-readable dates using an appropriate converter.

Example: Timestamp: 1716958039 = Wednesday, May 29, 2024 12:47:19 AM GMT-04:00 DST

Token ID: This represents the token number associated with the handle.

Fee Recipient: This designates the address responsible for collecting registration and renewal fees.

Ownership Transfer: This denotes the process of transferring ownership of handles from one user to another.

Halving: Registraion/Renewal fees are halved every 8 years until the 9th cycles then resets back to initial.

Token Bound Account (TBA): This concept, as outlined in the ERC6551 standard, attaches a smart contract account to every NFT. This enables it to own assets, execute transactions, and interact with decentralized applications (dApps).