Update README.md

README.md

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-bitcoindns
+Bitcoin DNS Specs + Design
 ==========
+
+### Operations
+
+1. name preorder
+2. name claim
+3. name update
+4. name transfer
+
+### Definitions
+
+- `hash160`: a 20-byte ripemd160 hash
+- `salt`: a random value appended to data in order to prevent reverse-lookups of the hashed data
+- `name hash`: a hash160 of a given name and a random salt
+-`name encoding`: a given name converted from base 37 to base 256, then padded with zeros
+- `historical record hash`: a hash of a data string generated from the combined list of the last block's valid names
+- `update hash`: a hash of the data to be associated with a given name
+
+### Data Encoding
+
+#### Constraints:
+
+- 40 bytes available in OP_RETURN
+- hash160s = 20 bytes
+- name encodings = 19 bytes
+- salts = 16 bytes (128 bits)
+- 1 byte = 256 values
+- alphanumeric-dash charspace = 37 values
+- each byte = 1.536 characters
+
+#### Name encoding lengths
+
+- 17 bytes = 26.1 characters
+- 18 bytes = 27.6 characters
+- 19 bytes = 29.2 characters
+- 20 bytes = 30.7 characters
+- 21 bytes = 32.2 characters
+- 22 bytes = 33.8 characters
+
+### Name Preorder (reserve)
+
+- name hash (20 bytes)
+- historical record hash (20 bytes)
+
+### Name Claim (reveal)
+
+- prefix (1 bytes)
+- name (19 bytes)
+- salt (16 bytes)
+
+### Name Update
+
+- prefix (1 bytes)
+- name (19 bytes)
+- update hash (20 bytes)
+
+### Name Transfer
+
+- prefix (1 bytes)
+- name (19 bytes)
+
+Name ownership is transferred to the recipient of the first output.
+Name admin rights are given to the recipients of all subsequent outputs.
+