Ethereum Name Service Domain Registrations Reach A New Peak

Ethereum Name Service domain ownership has surpassed 1.8 million names as July saw 378,000 new .eth registrations.

The surge in registrations comes as the Ethereum community prepares for the upcoming merge next month.

The merge will switch the top blockchain for dapps, DAOs, and NFTs from a proof-of-work consensus algorithm to proof of stake.

ENS Domains said it saw 5,400 ETH (around $8.8 million) in revenue and 48,000 new Ethereum accounts using at least one ENS name, plus more than 99% of the domain sales volume on OpenSea last month.

ENS domains has also started to see an increase in the presence of non-English speaking communities in the ENS ecosystem, including Arabic and Spanish speaking communities.

The Ethereum Name Service or ENS manages the issuance and renewal of .eth domain names built on Ethereum.

These domains can be sold as non-fungible tokens (NFTs).

ENS domains can also link to one’s cryptocurrency wallet. Instead of proving a sender with a long Ethereum address, users can give their .eth domain name and receive a transaction.

Other providers of crypto-related domain names have also come into the market, offering .sol (Solana), .bitcoin, and .zil (Zilliqa) domains, among others.