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"Evmos Domain Service, an EVM-compatible blockchain protocol within the Cosmos ecosystem, was officially launched on June 24th. It follows a fee structure similar to ENS (Ethereum Name Service). For example, the registration fee for 3-character domains is approximately 16 EVMOS per year, 4-character domains cost about 11 EVMOS per year, and 5 characters or more cost around 6.3 EVMOS per year.
Juno Network, an intelligent contract chain within the Cosmos ecosystem, offers domain services. Currently, registration fees for 2 to 4-character domains are 8 JUNO, and for 5 characters or more, it's 5 JUNO. Similar to (de)NS and Solana domains, these are permanent domains, meaning once purchased, they belong to the user forever.
Besides the mentioned blockchains, others are also entering this domain space. For example, Algorand has introduced its domain service, Dfinity is on its way, Telos is about to launch, and some are migrating to Terra 2.0, among others. Given the similarity in domain protocol mechanisms and the fact that most of them are yet to gain significant traction, we won't delve into further detail here.
Behind the scenes of blockchains launching their decentralized domain protocols, there are blockchains focusing on creating decentralized domain systems and some striving to address the fragmentation of various blockchain domain protocols, including Unstoppable Domains. Unstoppable Domains has performed the best, with approximately 1.9 million registered domains and a total transaction volume of around 2.1 million USD based on OpenSea data as of July 28th.
Additionally, .bit has evolved from a pure domain protocol into a decentralized identity (DID) product. Decentralized domains can support various data types such as wallet addresses and personal profile information. These domains can provide different services through different applications, and their close integration with wallet addresses can serve as identity identifiers in the Web3 world. Rather than directly building DID products, gradually evolving through decentralized domains into DID may yield better results.
Compared to the popularity of ENS, other blockchain domains haven't gained significant traction yet. They often lag behind in terms of trading volume and the number of registered users, which can be attributed to their shorter time in operation and their relationship with the development of their respective blockchain ecosystems. As ENS ignites the domain service space, and with the growing richness of blockchain ecosystems, the future of domain services on other blockchains and multi-chain domain protocols is something worth keeping an eye on." |
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Post time 19-10-2023 07:37:45
