Ethereum Name Service received 2.2 million registered domains despite unfavourable cryptocurrency conditions

2022 is believed to have been a fruitful year for Ethereum Name Service, with the platform registering 2.2 million domains, as reported by Cointelegraph.

According to Cointelegraph, around 80% of the total ENS domains developed post the project’s inception were registered in 2022. Insights from Dune Analytics showed that ENS garnered approximately 2.82 million names as of January 2, 2023, with 630,340 owners of ENS domains. 

On the basis of information by Cointelegraph, the service has been backed by users adopting ENS names for decentralised profits which function across decentralised applications and platforms. Reportedly, ENS domains work as Ethereum wallet addresses cryptographic hashes or website URLs, and are non-fungible tokens (NFTs). It is believed that the service witnessed partnerships with exchange operators such as Coinbase, which made the ENS integration announcement in September, 2022. 

Through utilisation of default domain names ending with .eth, Coinbase’s integration of the service permits users to claim “name.cb.id” usernames using the Coinbase Wallet browser extension. For making Web3.0 more user-friendly was one of the factors behind backing Coinbase’s adoption of the ENS service.  

Moreover, Cointelegraph noted that data for September, 2022, highlighted the creation of 437,000 registered domains. It is believed that the data even suggested that the exchange’s ENS integration led to the impact on new sign-ups in 2022. 

(With insights from Cointelegraph)

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