What about this alternative:
Anyone can register any domain name by providing a public key. This name + public key (hash) is the actual internal network address. For every domain name, the network maintains a ranked list of such addresses. Rank here is simply a numeric value equal to the amount of SafeCoins paid to the network for that address. By default, the browser resolves a domain name to the highest ranked address. Additional SafeCoins can be paid for an address by anyone to proportionally increase rank anytime.
- Hostile domain name take-overs are possible with this system, either with the goal of deploying malware, to harm a competitor, or simply to bully. This may be countered by the following measures:
- If the two highest ranked addresses under a domain name have both relatively high ranks, the browser doesn’t resolve to the highest, but instead presents a choice to the user, who has to figure out which public key to trust.
- Client software could (privately) store in your SAFE account a list of known (trusted?) public keys. When multiple addresses under a domain name have a high rank (due to a take-over), the browser automatically resolves to the one with the public key that is known (from a previous visit for example).
- It requires wealth to assure your domain. Not everyone may like that.
- Squatting isn’t profitable and will thus likely be non-existent.
- SafeCoin’s deflationary nature causes take-overs to become relatively more expensive over time. It may only cost $10 to get a rank of 1000 in the early days of SAFE. Later it may cost $1000 to get a rank of 1000, because SafeCoin has become more valuable.
- It creates another source of income for the network, so it improves SAFE’s economic sustainability. Network rewards (farming, dev updates) can be higher, and/or data upload prices can be lower.
- It’s a system with little complexity, so it’s less likely to malfunction or to be gamed.
- Websites with a strong community (a la reddit) can probably rely on their community to prop up the website’s rank when necessary.
- It’s flexible, nothing is irreversible.
- It’s fully decentralized.