Ethereum Name Service (ENS) is having a momentous ride with some of the biggest headlines in the industry. The blockchain project, which basically works like the phone book of the decentralised web, allows users to replace long hexadecimal addresses with human-readable names. Major payment processors like
PayPal and Venmo have integrated ENS's human-readable blockchain names for crypto transfers. This implies ENS user's crypto assets can now be sent to simple names rather than to complicated, alphanumeric wallet addresses. This development may significantly boost mainstream
crypto adoption. User-friendly
Ethereum-based domains are now supported by these platforms and the data from ENS is even visible in Google search results.
Google has integrated ENS to search for .eth names and balances.
ENS Labs and Dentity are in progress to bring real-world identities on-chain to connect Web2 and Web3. ENS is also planning its own Layer 2 solution, probably with ZK Rollups, to reduce gas fees and increase speed. This suggests that
ENS is positively poised towards a
scalable and affordable future. An interesting update is the introduction of Basenames for Ethereum addresses by
Coinbase's Base. Another integration was from
South Korean Exchange Upbit, which added support for
Ethereum Name Service. Amidst these developments,
ENS token has seen significant gains after rave endorsements from Ethereum’s founder, Vitalik Buterin, being hailed as 'super important'. This praise effectively galvanized investors' interest in the token.
ENS Coin News Analytics from Thu, 18 Mar 2021 07:00:00 GMT to Wed, 09 Oct 2024 11:52:55 GMT -
Rating 8
- Innovation 8
- Information 9
- Rumor 6
