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Ethereum Name Service (ENS) collaborates with Coinbase to provide Web3 usernames to its users for free. It will be available on Coinbase IOS and android mobile apps. However the usernames are managed by Coinbase — a crypto exchange.
ENS saw a record number of domain registrations last year amid a harsh market phase in which some traders treated the domains as investments. It is a decentralized domain name protocol that runs atop the Ethereum network. It provides users with an easily readable name such as “abc.eth” instead of a complex, long-form alphanumeric address for their crypto wallets.
According to the twitter thread, mobile app users can claim a free human-readable cb.id username, which will be making identifying and interacting with wallets easier than ever. Coinbase users can consolidate their Web3 identity across all channels. It will enhance the overall user experience. ENS partnership with Coinbase encourages simpler adoption of Web3 through human-readable names.
Additionally, most Coinbase users utilize their mobile wallets, making it a clear benefit for ENS to integrate with the Coinbase mobile app to provide a more seamless experience. And having mobile access to the wallet with a human-readable name is the kind of accessibility all crypto users want. After this partnership, ENS and Coinbase are making Web3 simple and effective for all.
It is clear that a customized Web3 username makes it easier for other members of the community to locate them on the network. Also they are easier to remember, and one does not have to use 0x7ec— usernames anymore. The coinbase username of each customer is a subdomain tied to Coinbase’s Domain Name System (DNS) domain (cb.id), which in turn is registered under the ENS protocol.
According to Dune Analytics over 630,000 unique wallets created 2.82 Million domain names, with 459,000 of those classified as “primary names.” Here, primary names are ENS addresses that resolve to a user’s crypto wallet and can be used as a proxy to search for information on blockchain explorers, such as Etherscan. It must be noted that the 2.82 Million figure represents more than 80% of all registrations since the service started in 2017.
Meanwhile, September saw the most ENS registrations at over 430,000 unique domains, and December recorded the lowest at just 52,000 domains, the data shows.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
