Over the past few months, a large number of people have shown a real interest in the Ethereum (ETH) blockchain. Proof of this is that, according to statistics, new registrations and renewals of existing domains on Ethereum Name Service (ENS) have become much higher than in previous months.
An increase in the number of domains on Ethereum Name Service (ENS)
Never Ethereum Name Service (ENS) was not as successful. Indeed, since the beginning of May, there has been a considerable increase in number of new registrations and renewals accounts and income. Experts believe there is only one reason for this: community awareness and low gas costs.
On this development, Nick Johnson, lead developer of the Ethereum Name Service (ENS), tweeted on May 23 the Web3 domain service’s numbers for the month of May so far. He said the numbers were about to significantly exceed previous existing records. Indeed, according to him, they are already at historic highs. However, since he “one week of May remains”, the numbers are likely to change even further.
In an interview with Cointelegraph, Mr. Nick said the main factor contributing to the higher demand for ENS domains is that it is a place where people can “forming shared communities without any primordial structure being imposed on them beforehand”.
ENS attracts new users without context
What is Ethereum Name Service (ENS) ? It is an open-source blockchain protocol founded in 2017 that allows people who use it to assign a digital identity to their Ethereum (ETH) wallet. The particularity with this tool is that each name constitutes an NFT which ends with “.eth”. This name can serve as an address, URL or website.
We retain data revealed by Mr. Nick that there was 304,968 new registrations, 13,260 renewals and 3,165.85 ETH in revenue so far in May. These statistics already enable previous records to be beaten.
Explaining the reasons that contributed to this situation, Mr. Nick asserted that the ” low gas costs definitely have an impact” on people’s decisions. Sending a quick transaction on Ethereum (ETH) today only costs around 22 GWEI at the time of writing this article.
Ethereum Name Service (ENS) is in one of its most beautiful periods, since the statistics show a real interest in its operation. Indeed, the number of people who create an account there or who proceed to a renewal continues to grow considerably during this month.
Source : Cointelegraph
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Luc Jose Adjinacou
Far from having dampened my enthusiasm, an unsuccessful investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay with my pen information relating to this ecosystem.
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