For the reason that launch of the identify service (ENS) in 2017, Web3 customers have been in a position to exchange the lengthy strings of characters that make up a cryptographic deal with with a extra simply remembered blockchain username or Web3 area identify. For instance, Ethereum (ETH) customers can now ship crypto to community founder Vitalik Buterin underneath his username vitalik.eth with out realizing that his deal with is 0xd8da6bf26964af9d7eed9e03e53415d37aa96045.
However regardless of this breakthrough, which tremendously facilitates the identification of customers, virtually nobody has taken benefit of it. There are over 200 million distinctive addresses on Ethereum, however solely 2.2 million .eth names have been recorded from January. Which means no less than 97% of Ethereum addresses usually are not related to an ENS username.
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