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Vitalik Buterin asked his Twitter followers how fair they thought it was to register a domain with the Ethereum Name Service (ENS). What’s a fair price one has
Vitalik Buterin asked his Twitter followers how fair they thought it was to register a domain with the Ethereum Name Service (ENS).
What’s a fair price one has to pay to register and guarantee 100-year unconditional ownership of a 5-letter .eth domain name?
— vitalik.eth (@VitalikButerin) September 4, 2022
91,130 people participated in the survey. 49.8% of them felt that the acceptable cost of registering and owning a five-character ENS domain name for 100 years should not exceed $100.
The rest of the answers got much less votes:
Some Twitter users announced the results of the survey as expected. One of the commenters stated that domain names should be completely free.
It should be free.. A commission should be taken less than the income.
— Lonewolf (@Bigbull_freedom) September 4, 2022
Coinbase Cloud expert Viktor Bunin said the cost of domain names in the ENS system “should increase exponentially over time.”
In my proposed plans, the new renewal cost will depend on how high the current offerings are, so the benefit of paying a super linear cost would be to lock in a price.
— vitalik.eth (@VitalikButerin) September 4, 2022
“A good economy needs turnover. 100 years is too long. I would probably aim for $1 million for such a time frame,” he wrote.
In response, Ethereum’s founder explained that in his plan, the cost of replenishment depends on “how high the current rates are.” He says the advantage is price fixing.
In July, the number of registrations in the ENS domain name system reached a record level of 1.87 million.
A month later, the indicator surpassed 2 million addresses. User activity is increasing as Ethereum moves closer to the Proof-of-Stake consensus algorithm as part of The Merge update (temporarily September 15-16).
Recall that early July, an unknown owner of the domain 000.eth sold it on OpenSea for 300 ETH (about $36,000 at the time).
Another user ignored the deal to sell amazon.eth for 1 million USDC.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
