Getting a decentralized domain is a viable option for those excited about Web3 technology. Thankfully, users can register such domains with a .eth or . tez extension these days. Both systems provide numerous benefits to those who value decentralization, although the overall uptake of these opportunities remains relatively low.
Ethereum Name Service Popularity Dips Slightly
It has been an interesting time for the Ethereum Name Service, enabling users to acquire highly coveted .eth domain names. Although accessing such decentralized domains still requires a specific browser or associated plugins, the appeal of a decentralized domain name is powerful. The project has had over 27,800 users in the past 30 days, confirming momentum is still brewing.
However, that user count is over 32% lower than the previous month. Not entirely surprising, although one must wonder what it would take to create sustainable growth for .ETH domains. That may not happen overnight until they are incorporated into how all browsers resolve domain names. Competing with the centralized domain registrar will always be an uphill battle, but nothing is impossible.
Diving deeper into the Ethereum Name Service, the number of transactions has also declined somewhat. Nothing to be concerned about, and the overall transaction count remains fairly stable. Overall, the project continues to build momentum, and the value of the ENS token continues to appreciate, holding its own well above $12.
Tezos Domains Slowly Build Momentum
Similar to the Ethereum name Service, there is a similar solution for those who want a domain name tied to Tezos. Users can register that domain through Tezos Domains, a distributed and extensible naming system. While it is mainly used to create online aliases rather than traditional domain names, it certainly serves a purpose in the community.
Unfortunately, there is a hefty decrease in monthly volume, transactions, and users. It is remarkable to see the users dip by almost 12% to 2,31k, whereas the overall volume dropped by nearly 20.5%. There was a very recent spike in activity, which would explain the sudden volume drop. It appears someone – or a group of individuals – spent a good amount of XTZ on getting some Tezos domain names, although it is unclear why they went ham all of a sudden.
Overall, it is good to see a healthy interest in decentralized domains. Although the solutions on Ethereum and Tezos appear to cater to different user types, they both prove successful. It is worth noting Tezos Domains does not have a token like ENS – nor is there any indication of creating such an asset – but that will not detract from or contribute to the project’s success.
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