2022 turned out to be a fruitful year for the Ethereum Name Service as the platform registered 2.2 million domains despite unfavorable market conditions for the cryptocurrency space.
According to the service, more than 80 percent of the total ENS domains created since the start of the project were registered by 2022. Data from Dune Analytics shows that ENS has around 2.82 million names registered as of January 2with 630,340 ENS domain owners.
Happy New Year everyone!
2022 was an incredible year for ENS!
Over 2.2m ENS names were registered in 2022 (that’s 80% of ALL names created)
If you’re ready for 2023, drop your ENS below ✨
— ens.eth (@ensdomains) January 1, 2023
Happy New Year to all!
2022 was an amazing year for ENS!
In 2022, more than 2.2 million ENS names were registered (accounting for 80% of ALL names created).
If you’re ready for 2023, drop your ENS below ✨
As Cointelegraph previously explained in an exclusive interview with ENS founder Nick Johnson, the service allows users to map human-readable names, such as “nick.eth,” to machine-readable information, such as cryptocurrency addresses and URLs.
The service has been driven by users adopting ENS names for decentralized profiles that work on decentralized applications and platforms. ENS domains serve as ETH wallet addresses, cryptographic hashes, or website URLs and are, in effect, NFTs (non-fungible tokens).
The growing popularity of the service has led to a number of partnerships with major exchange operators like Coinbase. The US exchange announced the integration of ENS in September 2022, offering users the ability to replace traditional Coinbase cryptocurrency wallet addresses with language-based usernames.
While ENS domains by default end in .eth, Coinbase’s integration of the service allows users to claim “name.cb.id” usernames using the Coinbase Wallet browser extension. Coinbase’s adoption of the ENS service was fueled by the utility of “human-readable” names to make Web3 easier to use.
Data shows September saw the highest number of ENS registrations created in the past year, with 437,000 ENS domains registered. The data suggests that the integration of ENS into the exchange had a significant impact on new registrations in 2022. May 2022 was also a banner month for ENS, as low gas fees on the Ethereum network played a role in the increase in .eth domain registrations.
Clarification: The information and/or opinions expressed in this article do not necessarily represent the views or editorial line of Cointelegraph. The information presented here should not be taken as financial advice or investment recommendation. All investment and commercial movement involve risks and it is the responsibility of each person to do their due research before making an investment decision.
Investments in crypto assets are not regulated. They may not be suitable for retail investors and the entire amount invested may be lost. The services or products offered are not directed or accessible to investors in Spain.