Ethereum Name Service Founder Reflects on Approaching 2 Million Records Mark
As the Ethereum name service nears 2 million domain registrations, its founder ponders parallels with the Ethereum name service domain on the Internet.
Analysis
The proliferation of the Internet put the world at the fingertips of users, and with it came a rush to register domains on the nascent network. Companies like Amazon were born on the internet, while many others started their true online business by registering a website.
Domain names remain an integral part of the Internet, serving as the standard bearer for the biggest brands, companies, institutions and individuals. But the advent of blockchain technology and Web3 ushered in a new paradigm for domain name hosting.
This is where things got interesting. Savvy tech sleuths realized there was tangible value in registering websites with the names of famous brands, companies, or individuals knowing that those same people would end up wanting to do the same. Thus, domain squatting as it is now known was born.
Amazing amounts were paid for domain names as the world went online. Cars.com now holds the record for the most expensive domain name ever sold, with the website itself valued at $872 million during the company's high-profile sale in 2015.
CarInsurance.com has grossed nearly $50 million and is ranked as the second most expensive domain sold in history. The list is long and differs between different sources, with domains like internet.com, sex.com, beer.com and hotels.com ranked among the most lucrative DNS addresses to trade.
The practice is still common, with anecdotes of famous individuals having to shell out large sums to purchase a parking domain bearing their name. The process is now repeating itself with the rise of Web3 and blockchain-based domains.
The Ethereum Name Service (ENS) appears to be following in the footsteps of conventional domain names, surpassing 1.8 million registrations at the end of July 2022. During this month...
As the Ethereum name service nears 2 million domain registrations, its founder ponders parallels with the Ethereum name service domain on the Internet.
Analysis
The proliferation of the Internet put the world at the fingertips of users, and with it came a rush to register domains on the nascent network. Companies like Amazon were born on the internet, while many others started their true online business by registering a website.
Domain names remain an integral part of the Internet, serving as the standard bearer for the biggest brands, companies, institutions and individuals. But the advent of blockchain technology and Web3 ushered in a new paradigm for domain name hosting.
This is where things got interesting. Savvy tech sleuths realized there was tangible value in registering websites with the names of famous brands, companies, or individuals knowing that those same people would end up wanting to do the same. Thus, domain squatting as it is now known was born.
Amazing amounts were paid for domain names as the world went online. Cars.com now holds the record for the most expensive domain name ever sold, with the website itself valued at $872 million during the company's high-profile sale in 2015.
CarInsurance.com has grossed nearly $50 million and is ranked as the second most expensive domain sold in history. The list is long and differs between different sources, with domains like internet.com, sex.com, beer.com and hotels.com ranked among the most lucrative DNS addresses to trade.
The practice is still common, with anecdotes of famous individuals having to shell out large sums to purchase a parking domain bearing their name. The process is now repeating itself with the rise of Web3 and blockchain-based domains.
The Ethereum Name Service (ENS) appears to be following in the footsteps of conventional domain names, surpassing 1.8 million registrations at the end of July 2022. During this month...
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