Alias system feature of HBIT essentially allows one piece of text to be substituted for another, so that keywords or keyphrases can be used to represent other things – names, telephone numbers, physical addresses, web sites, account numbers, email addresses, product SKU codes... almost anything you can think of.
For example, you could ask HBIT to associate "search" with "www.google.com". Once this is done, all you have to do to get to Google is type "hbit:search" into a HBIT-capable browser, and it will translate your request in one for "www.google.com".
Immediate applications are simple: you can create an easy-to-remember alias for your HBIT account number, for example. But since the Alias System is open-ended, it can be used to implement a decentralized DNS system, shopping cart applications, and more.
Creating aliases is
A user sends a transaction that states "ThisText = ThatText"
If the alias is to be changed, just send another transaction with a new definition. Only the account that created an alias can change it.
The alias can be any string of latin-character numbers and letters. The address can be anything like:
"220.127.116.11" (an IPv4 address)
"2001:0db8:11a3:09d7:1f34:8a2e:07a0:765d" (an IPv6 address)
"mydomain.com/secretpage.php?parameter=value" (a URI)
...or even "bitcoin:1BTCorgHwCg6u2YSAWKgS17qUad6kHmtQW".
There are 2 main ways to use HBIT aliases without having to rely on third-party plugins for your browser:
Server-side. A web server analyses the HBIT blockchain and replaces "hbit-links" with corresponding addresses before sending HTML documents to users.
Aliases can be transferred for a 0.00001 HBIT fee.
Alias can be sold to either specific HBIT Accounts or to the general public. To sell an alias, you can set the price to sell for every alias.
Sell Alias Functions
It is possible to sell the Aliases by setting a sale price in HBIT, once the order has been started, each user can buy the alias by paying the requested amount.
It is possible to update the sales price by sending the sales form again with the updated price.
Each sale or update request costs only 0.00001 HBIT as a transaction cost in the Blockchain.
*Currently is possible to create Alias, and Delete, soon will be possible to Buy and Sell Alias.