JAKARTA - The Ethereum Name Service (ENS) recently teamed up with Coinbase to add a more readable domain of cb.id to humans.
This allows anyone with an Ethereum wallet to create an NFT consisting of a series of letters to replace their alphageneric blockchain address.
This collaboration is expected to increase interest in the previously declining ENS domain network. The data shows that interest in ENS has declined. The addition of new addresses to the ENS network monthly decreased from 22,914 to 12,000, according to the Dunn Analytics report.
However, with easier-to-read domains by humans, it is hoped that it can increase the use of ENS networks and make them more accessible to users.
Ethereum Name Service (ENS) is still superior to its competitor, Unstoppable Domains. ENS still registers more names than its competitors, as it has more advanced features and functions.
The ENS token is also growing in popularity, as it shows an increase in the number of ENS tokens. According to data from Santiment, last month the number of ENS tokens increased from 10 million to 48.67 million. The speed of tokens has also increased, suggesting that ENS is increasingly being transferred between addresses.
However, the expansion of the ENS network has stalled, showing that new addresses have lost interest in cryptocurrencies over time. However, at the time of publication, the price of ENS tokens was 13.70 US dollars, an increase of 5.1 percent in the previous twenty-four hours.
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