diff --git a/README.md b/README.md
index d4c0fbe..dd5be5c 100644
--- a/README.md
+++ b/README.md
@@ -1,8 +1,8 @@
 # Chain Selectors
 
 CCIP uses its own set of chain selectors represented by uint64 to identify blockchains. This repository contains a
-mapping between the custom chain identifiers (`chainSelectorId`) and the chain identifiers used by the blockchains
-themselves (`chainId`).
+mapping between the custom chain identifiers (`chainSelectorId`) chain names and the chain identifiers
+used by the blockchains themselves (`chainId`).
 
 Please refer to the [official documentation](https://docs.chain.link/ccip/supported-networks) to learn more about
 supported networks and their selectors.
@@ -21,10 +21,16 @@ import (
 func main() {
     // Getting selector based on ChainId
     selector, err := chainselectors.SelectorFromChainId(420)
-
+    
     // Getting ChainId based on ChainSelector
     chainId, err := chainselectors.ChainIdFromSelector(2664363617261496610)
-
+    
+    // Getting ChainName based on ChainId
+    chainName, err := chainselectors.NameFromChainId(420)
+    
+    // Getting ChainId based on the ChainName
+    chainId, err := chainselectors.ChainIdFromName("binance_smart_chain-testnet")
+    
     // Accessing mapping directly
     lookupChainId := uint64(1337)
     if chainSelector, exists := chainselectors.EvmChainIdToChainSelector()[lookupChainId]; exists {
@@ -35,10 +41,42 @@ func main() {
 
 ### Contributing
 
+#### Adding new chains
+
 Any new chains and selectors should be always added to [selectors.yml](selectors.yml) and client libraries should load
 details from this file. This ensures that all client libraries are in sync and use the same mapping.
+To add a new chain, please add new entry to the `selectors.yml` file and use the following format:
+
+```yaml
+$chain_id:
+  selector: $chain_selector as uint64
+  name: $chain_name as string # Although name is optional parameter, please provide it and respect the format described below
+```
+
+Chain names must respect the following format:
+`<blockchain>-<type>-<network_name>-<parachain>-<rollup>-<rollup_instance>`
+
+| Parameter | Description | Example                       |
+| --- | --- |-------------------------------|
+| blockchain | Name of blockchain protocol (or anchor blockchain) | `ethereum`, `cosmos`, `polkadot`    |
+| type | Type of the blockchain | `testnet`, `mainnet`, `devnet`      |
+| network_name | Name of specific network | `kovan`, `rinkeby`, `opera`, `kusama` |
+| parachain | Name of parachain based on blockchain_protocol | `moonbeam`, `edgeware`, `okex`      |
+| rollup | Name of rollup protocol | `arbitrum`, `optimism`            |
+| rollup_instance | Instance of rollup | `1`, `one`                        |
+
+
+[selectors.yml](selectors.yml) file is divided into sections based on the blockchain type. 
+Please make sure to add new entries to the both sections and keep them sorted by chain id within these sections.
+
+If you need to add a new chain for testing purposes (e.g. running tests with simulated environment) don't mix it with
+the main file and use [test_selectors.yml](test_selectors.yml) instead. This file is used only for testing purposes.
+
+#### Adding new client libraries
 
 If you need a support for a new language, please open a PR with the following changes:
+
 - Library codebase is in a separate directory
 - Library uses selectors.yml as a source of truth
 - Proper Github workflow is present to make sure code compiles and tests pass
+