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ENS, the domain name protocol on the Ethereum network, has announced a partnership with GoDaddy, the largest internet domain registry, allowing users to seamlessly link their internet domains to ENS addresses without any cost.Announced on February 5, GoDaddy domain name holders can now easily link their addresses to Ethereum Name Service (ENS) names without requiring technical expertise or additional fees.
Enabling Free Integration of Internet Domains with Blockchain Addresses
GoDaddy announces partnership with Ethereum Name Service to offer customers an effortless way to connect their domain to their ENS-compatible crypto wallet. Crypto payments have never been easier to receive. Read all about it: https://t.co/AY6RD8SUpP pic.twitter.com/Me5rafLLx2
— GoDaddy (@GoDaddy) February 5, 2024
By giving wallet addresses names that are readable by humans, ENS.eth domains, a decentralized domain name system (DNS), help to make the complicated world of Web3 simpler. GoDaddy’s assistance allows Web3 users to easily link their.eth domains to conventional URLs, doing away with the formerly prohibitive gas costs.
Beyonce’s domain name was used as an example by ENS founder Nick Johnson to illustrate the practical ramifications: “Now Beyonce.xyz is her wallet identifier for all intents and purposes.” By making the process of linking internet domains to blockchain addresses simpler, this move hopes to improve Web3 accessibility and usability.
Even though the bear market caused a slowdown in the general adoption of Web3, the ENS-GoDaddy collaboration shows a dedication to bridging the gap between blockchain and conventional internet infrastructure. The long-term objective is to enable users to set addresses for different blockchain chains by extending this integration beyond Ethereum.
Paul Nicks, GoDaddy’s president of domains, highlighted the partnership as a major advancement for the Web2 and Web3 ecosystems, referring to it as the “fusion of domain names and blockchain technologies.”
The partnership takes care of the exorbitant gas costs that prevented users from switching their domain names to ENS. Holders have more control over their decentralized identities thanks to new smart contracts that ENS deployed for the resolution process. These contracts also enable a cost-free transition.
The market is responding favorably to the partnership; according to CoinGecko, the price of the ENS token, which is issued by Ethereum Name Service, has increased by 6% in the last day.
ENS domains saw significant growth during the bear market of 2022, peaking at 437,365 registrations in September of that year. With more than 2 million registered domains as of late 2022, ENS is still a major player even though the frenzy subsided.
ENS and Unstoppable Domains Clash Over Patent Dispute
Unstoppable Domains, GoDaddy’s Web3 rival, streamlined ENS domain management in July 2023 by allowing customers to buy.eth names with improved payment options and features. Interoperability is strengthened by the fact that all.eth domains purchased from Unstoppable operate in a manner akin to those registered directly through ENS. Notably, this partnership is taking place in the midst of ENS and GoDaddy’s ongoing legal battle over the sale of the ENS domain “eth.link.” ” When ENS developers disputed a patent filed by Unstoppable Domains, a legal dispute emerged in November 2023. According to the patent, a blockchain-based technology for domain determination has been invented. Nick Johnson, an ENS developer, retorted that the patent lacked originality and was solely dependent on ENS-developed innovations. He explained how the Ethereum blockchain’s ENS maps names that are readable by humans to identifiers that are readable by machines. In response to the controversy, CEO of Unstoppable Domains Matthew Gould refuted claims that they were stealing intellectual property, saying that their patent applications were meant to safeguard their business independence and guard against possible legal challenges from major Web2 domain registries. Developers of ENS and Unstoppable Domains fought in November 2023 over a patent dispute. Nick Johnson, the creator of ENS, rejected the argument, claiming that the patent solely depended on inventions created by ENS. In the meantime, Unstoppable Domains CEO Matthew Gould explained that the company filed patents as a proactive measure to protect itself from possible incursions by major Web2 domain registries.