As blockchain technology becomes more widespread, more and more people will want to connect with friends. You want to contact someone on Web3 like you would follow them on social media or add their number to your phone directory.
One problem with the blockchain is that addresses are complicated, long, and unwieldy. Ethereum domains or Ethereum Name Service offers a name and lookup service that simplifies them. It assigns .ETH domain names, making the user experience overall better.
ENS: The Details
Ethereum Name Service is an ecosystem and protocol for people who want unique and memorable usernames on Web3, the future of the internet. You can link all sites and wallet addresses to a single unique name using this service, such as “john.ETH.” Then, you’ll be much easier to find.
The protocol also makes it possible to link an existing domain to your ETH wallet or use your domain name to make a decentralized site.
Ethereum Name Service also has its own cryptocurrency, which is currently trading for just over $20. It has gained 14% in the last 24 hours.
Capitalize on Web3 early
Early adopters of Web3 technology are already registering domains via Ethereum Name Service. The protocol is analogical to platforms like Brand Snag, which checks usernames and handles on different social media networks. These include Meta, Twitter, TikTok, Instagram, YouTube, Reddit, Pinterest, and Twitch.
Another advantage of the early adoption of an .eth domain is the limited number of domain names available.
A New Market
The value of ENS names will only increase with time because the adoption of Ethereum is consistently rising. A decentralized, trustless solution can be critical for users who want to eliminate transaction risk.
Essentially, Ethereum Name Service renders ETH addresses readable for humans. They are long alphanumeric strings. Behind them is a private key, and nobody can send or receive ether, the currency of Ethereum, except the key owner.
These long and complicated strings of letters and numbers are a pain to type manually, particularly considering the high risk of making mistakes. In comparison, you can send or receive funds just using an email on PayPal or Coinbase. ENS does away with the need to type or copy long addresses.
As ENS runs on smart contracts on the ETH blockchain, it is far more secure than traditional systems. The name you enter will work just like you intended. ENS operates in a distributed manner in terms of governance as well as infrastructure. To register an .eth domain name, you participate in a blockchain-mediated auction process.
Steps to Obtain a Domain
You can use ENS to create a domain with the characters of your choice. When you find an available domain, you confirm two transactions to claim it. Each domain incurs a $5 annual fee. To create one, you need access to MetaMask or another crypto wallet and Ethereum.
Once you’ve created a domain, you can also create subdomains and link them out to your sites and wallet. You might have a subdomain for a site or an email. ENS is your next port of call if you’re ready to deploy your site to the blockchain. It has a step-by-step guide prepared by developers, making the process simple. Even those unfamiliar with Web3 and blockchain development will find it seamless.
The Bottom Line on Ethereum Domains
As the decentralization trend gathers momentum, more and more people are opening Web3 domains. Now is the time to get the name you want! ENS makes the process easy and accessible, just like using a service like PayPal to send or receive funds.