THE DAILY ENCRYPT

October 4, 2022

ENS Ethereum Name Service Sees 1.8 Million Domain Registrations

Over 1.8 million ENS Domains have been registered. Non-English speaking communities are increasingly adopting them....
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Over 1.8 million ENS Domains have been registered. Non-English speaking communities are increasingly adopting them. According to ENS Domains, Ethereum Name Service domain ownership has surpassed 1.8 Million names. In July alone, 378,000 new.eth registered were made.

As the Ethereum community prepares to host the merge next week, the registrations have risen. This will see the top blockchain for DAOs, dapps and NFTs change from a proof–of-work consensus algorithm, to evidence of stake.

ENS Domains announced the record-breaking number of registrations in a tweet. It said that it had received 5,400 ETH (around 8.8 million dollars) in revenue, 48,000 new Ethereum accounts, and more than 99% of OpenSea domain sales volume last month.

The merger may have played a part in the increase in activity, but Khori Whittaker (Executive Director at True Names Limited), the company behind ENS Domains believes that the surge is more organic.

Whittaker claims that we wouldn’t see the increase in registrations without independent developers working in the ecosystem to create marketplaces and other ENS-related apps, groups and apps like the “999 club,” “10k club,” “TLC” and “100k clubs,” among others.

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Whittaker also mentioned that the drop in Ethereum transaction fees was another factor contributing to the surge. He said that domain registration activity increases when gas prices drop.

Whittaker said that the company is also seeing an increase in non-English speaking communities within the ENS ecosystem. This includes Spanish and Arabic speaking communities.

The Ethereum Name Service, ENS, manages the issuance of.eth domains built on Ethereum. These domains are available for sale as non-fungible tokens.

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You can link to your cryptocurrency wallet with ENS domains. Instead of having to prove a sender by providing a long Ethereum address number, users can provide their.eth domain names and receive a transaction.

There are also other providers of crypto-related domain name domains. These include.sol (Solana), Zilliqa (Zilliqa), and.bitcoin (Zilliqa). These domains are a popular way to prove that you “belong” in Web3.

In June, the legendary actor Anthony Hopkins added an.eth domain under his name to his Twitter account. He asked fellow Web3 celebrities Snoop Dogg and Jimmy Fallon for suggestions on which NFT Hopkins should purchase first.

Whittaker stated that people are looking for quality projects and quality protocol with staying power. There are many fun and interesting projects in Web3. The Ethereum Name Service is certainly one of them.

Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".
Vitalik Ivanov

Vitalik Ivanov

Vitalik is a speaker / journalist. He has spoken and given presentations at many blockchain events across the world. Vitalik is based in the UK, he loves to travel and calls Dubai his "crypto home". Vitalik has enjoyed speaking at blockchain events and has a main focus on CBDC's, NFT's and altcoins. Vitalik says "Everything, and i mean everything will be an NFT one day".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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