The collaboration is expected to eliminate barriers between traditional DNS and blockchain technology, offering GoDaddy users the ability to freely link Web2 domains with ENS.
Ethereum Name Services (ENS) recently announced a partnership with the world’s largest domain provider, GoDaddy, aiming to bridge the DNS protocol used in traditional websites with blockchain-based names.
This collaboration is anticipated to remove previous obstacles between traditional DNS and blockchain technology, enabling over 20 million GoDaddy users to seamlessly link Web2 domains (.com, .net, etc.) with ENS for widespread use. This facilitates the replacement of Ethereum addresses in various Web3 applications such as wallets, blockchain explorers, NFT platforms, and more.
Ethereum Name Service provides domain services on the Ethereum blockchain, utilizing user-friendly names like “coin68.eth” to replace complex wallet addresses like “0xabcd…”, simplifying the process of sending and receiving funds.
While ENS shares similarities with the Internet’s Domain Name Service (DNS), it features a significantly different architecture due to its use of Ethereum blockchain technology. Similar to DNS, ENS operates on a hierarchical system, separated by dots and referred to as domains. Domain owners on ENS have full control over subdomains.
The project gained prominence with a token airdrop event worth up to 500 million USD in November 2021. Since then, ENS has continually worked to connect with the traditional web, including announcements regarding compatibility with Layer-2 and the introduction of web domains (.box) for direct website linking and even email usage.
The efforts of the Ethereum Name Service have earned accolades, including praise from Ethereum co-founder Vitalik Buterin, who encourages these blockchains to integrate with ENS domains to enhance user experiences in the decentralized finance (DeFi) space.
Despite a recent decline in the average number of users registering domains, the project has recorded the minting of nearly 2.1 million ENS domains, owned by over 819,000 individuals, according to Dune Analytics data.
As of the time of writing, the ENS price is trading around 20 USD, marking an approximately 12.5% increase.