Some of the shady crowd behind the Pirate Bay file sharing Website have announced plans for a peer-to-peer domain name system (DNS), called P2P DNS.
DNS is the behind-the-scenes technology that converts the human-friendly Internet addresses we all use (such as www.pcworld.com) into IP addresses that computers on the Internet are actually known by (such as 70.42.185.10). DNS is often referred to as the phone book of the Internet, and practically every computing device on the planet makes use of it.
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