What do brands like Hublot, Budweiser, and Opensea have in common? They have all signified their interest in Web3 by acquiring an ENS.
mihay Nombre Service (ES) es a decentralized naming system establecido en la Etéreo blockchain. Eso es designed a resolve humano–legible nombres me gusta “myname.eth“ a blockchain addresses, me gusta “0x7c4a8b6fb5d9dd8b74013e2a9e434a1b5d9dce24“.
ES was launched en May 2017 y es currently la la mayoría used naming system en la cryptocurrency space. Over 1.5 million dominio nombres tener been registered con miNS, making eso una de la largest decentralized applications en Etéreo.
As ENS adoption is growing at an unprecedented rate, we are witnessing more and more brands entering the space.
Cracking open a beer.eth
— Budweiser (@budweiserusa) March 26, 2022
Is it just a PR stunt, or does ENS technology have real use-case applications for brands like Hublot, Budweiser, and Opensea?
The History of Web2 Domain Names
Domain Name Registration has been around for decades. Ever since the early days of the internet, developers have been using DNS (Domain Naming Service) to be able to convert lengthy IP addresses into human-readable .coms. This advancement in user experience arguably was one of the key factors that allowed for the worldwide adoption of Web2.
Brands quickly saw the possibilities that domains had to offer and as the number of internet users increased, the value of the domains began to increase as well.
Over time, it became apparent that certain types de dominio nombres mayo ser más probable a convert visitors dentro customers, such como aquellos que son fácil a remember, pronounce, y spell.
A good dominio name es más probable a ser indexed por search engines y appear en search results and a ser clicked en por users when eso appears en search results. Además, eso pueden help build su brand y improve su click–through rate.
It wasn’t long before brands were choosing their names based on the domain they were able to acquire,
Transitioning to Web3 Infrastructure
Now, years later, a service quite similar to the Domain Naming Service of the 90s is tackling the same issue of identity, while adding a plethora of additional features. The ENS protocol’s most commonly used feature is its ability to translate wallet addresses into human-readable language.
Instead of copying and pasting a long string of letters and numbers, people can easily send their cryptocurrency to an address like cryptoreporter.eth. This process makes it immensely easier to send crypto, token, or NFT to its desired destination.
ES es designed a ser interoperpoder con otro decentralized systems, y eso es ya siendo used por a number de projects en la Etéreo ecosystem. For example, la popular cartera MetaMask uses miNS a resolve Etéreo addresses.
As Web3 matures, eso es probable que más protocols voluntad ser built around miNS. Este would permitir users a más easily access y interact con decentralized applications y services.
Recent volatility in the crypto markets has done little to slow the adoption and with it the demand for ENS Domains, attracting early adopters and celebrities such as Jay-z (owner of hov.eth) and Jimmy Fallon (Fallon.eth) and Anthony Hopkins (AHopkins.eth).
— AHopkins.eth (@AnthonyHopkins) 8 de junio de 2022
As más gente discover digital identities y la benefits que venir con a ellos, un increasing number son choosing a adopt miNS. Este es evident en la data de Opensea, which shows que miNS es currently la la mayoría popular dominio en their platform. los organic growth de miNS pueden ser attributed a its many advantages, such como its security, ease de use, y flexibility.
Unlike .com domains which are protected by associations like ICCANN, .eth domains are decentralized, giving anyone with an internet connection the power to claim a word, a digit, or an emoji of their choosing.
Large players in the blockchain ecosystem have already acquired their ENS Names, including Uniswap, Looksrare, and Opensea, and we anticipate that many more will follow in the near future.
Looking Into the Future
The utility behind ENS makes it one of the most popular NFTs in existence. Brands and individuals alike are realizing how important it is to claim their ENS as a way to signify their transition into the next phase of the internet.
ES es useful por brands because eso provides a camino por a ellos a securely address resources both en y off la blockchain, allowing them a tener más control over their brand identidad y reputation.
With blockchain adoption growing at a rapid pace, now more than ever it is important to understand the concept of owning one’s digital identity.