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In the past few years, the popularity of .eth domains have increased rapidly.
In November 2022 alone, there were a whopping new 70k domain name registrations!
And somehow, almost everyone in the web3 space seems to have a .eth domain of their own; both businesses and individuals alike!
At this point, you may be interested in getting one, but you don’t totally know all the benefits of owning an ENS domain (.eth)!
Not to fret; I did some research and even purchased one for myself so you won’t have to do all that searching yourself!
Here’s what I found:
ETH domains are worth it because they can be used across the web3 ecosystem. ETH domains, also known as ENS domains can be used to prove a digital identity, map a human-readable address to a wallet, create subdomains, are unique, and are a great investment opportunity.
Curious to know more details? In this article, I will share 13 reasons why you should buy one!
Read on to find out more:
What are ETH Domains?
ETH domains (.eth) or ENS domains (Ethereum Name Service domain) are domains that are built on top of the Ethereum blockchain network. They are decentralized, meaning no single person or company owns them.
An ENS domain name is a top-level domain (TLD) for the Ethereum blockchain. It is an open, unrestricted namespace that allows anyone to register a name.
The .eth TLD was delegated to the Ethereum Name Service (ENS), which provides a secure, decentralized way to manage names on the Ethereum blockchain.
|Ethereum Name Service
These ETH domains can be purchased from the Ethereum Name Service. Only domain names purchased from the Ethereum Name Service have the .eth naming convention.
For example, I recently purchased my own ENS domain: justjooz.eth, which can be searched on Etherscan.
Here’s how I purchased my ENS domain, you can follow along and purchase one for yourself too!
Looking at the above chart by ENS themselves, there are a total of 2.7 million domain names already registered to date!
On the decentralized web (dweb), the growth of ens domains is still strong in the bear market.
Are ETH Domains Worth It?
Now that we all understand eth domains and how they work, let’s explore why they are worth it.
Here are 13 reasons to buy an ETH domain:
1. An .eth domain is a new top-level domain (TLD)
An ETH domain is specifically designed for Ethereum addresses. It is a unique domain extension, separate from other web domains like .com and .org.
This makes an ETH domain more attractive to investors looking for digital assets with long-term value.
2. .eth Domains are More Human-readable than Traditional Ethereum Addresses
In general, .eth domains are more user-friendly than the traditional “x0f2e…. G83” type of crypto wallet addresses.
You are able to assign a domain name to your wallet address that is easier for people to remember. This makes it easier for people to send you cryptocurrency without having to copy and paste long strings of characters.
These can be difficult to remember and share.
3. .eth Domains Can Be Used to Send and Receive Payments
Another great use case for .eth domains is to make payments and receive payments.
You can use your domain name as an address to send and receive Ethereum, ERC-20 tokens, or any other crypto asset on the network. This makes it easier to keep track of funds coming in and out of your wallet!
4. .Eth Domains Are Available to Anyone, Regardless of Whether They Have an Ethereum Address
You don’t need to have an Ethereum address to purchase a .eth domain.
This makes it easier and more accessible for people who are new to the space or are unfamiliar with how blockchain works. They are also available to anyone, regardless of location or nationality.
5. .Eth Domains Are Stored on the Ethereum Blockchain
Since these domains are stored on the Ethereum blockchain, they are incredibly secure and immutable.
This means that no one is able to change or delete them without your permission.
They are also backed by cryptography, which makes it impossible for hackers to gain access or make any changes to your domain name. This ensures that your .eth domain will remain safe and secure for as long as you own it.
6. .Eth Domains Can Be Bought and Sold Like Other Cryptocurrency Assets
Your ETH domain is an asset and can be bought, sold, traded, or transferred, just like any other cryptocurrency.
This makes it a great investment opportunity for anyone who would like to diversify their portfolio with digital assets.
7. .Eth Domains Can Be Used to Create Subdomains For Your Projects
Another benefit of .eth domains is that you are able to create subdomains for your projects.
This can be extremely useful for businesses, as it allows them to create multiple web pages within their domain name. It also makes it easier for people to find what they are looking for, as the information is all stored under one main domain.
8. The ENS System Is Designed To Be Resistant to Censorship
The Ethereum Name Service (ENS) is a decentralized system, meaning it is not owned or controlled by any single entity.
This makes the system resistant to censorship, as no one can interfere with or block access to your domain name. This ensures that you are able to keep it safe and secure for as long as you own it.
Central authorities are unable to control or modify your domain name in any way.
9. .Eth Domains are Easy to Manage and Control
The ENS system makes it easy for you to manage and control your domain name.
You are able to set up automatic renewals, change the owner of the website, or update any other information associated with your domain name in just a few clicks.
This makes it easier to keep your domain name up-to-date and secure without having to worry about any manual intervention.
This will depend on how long you purchased your ENS domain names.
10. .Eth Domains Can Also Be Used To Create Aliases for Smart Contracts
Smart contracts are becoming increasingly popular in the world of blockchain technology. Using .eth domains, you are able to create aliases for these contracts that are easier to remember and share with others.
This makes it easier for users to interact with them without having to copy and paste long strings of code.
As such, ENS domains will really help you if you are a smart contract developer.
11. .Eth Domains Are a Convenient Way To Keep Track of Multiple Crypto Wallets
If you have a few web3 wallets, chances are that you’re likely to not be able to keep track of them all well. Even if you use an Excel spreadsheet, naming them can be difficult and rather uncustomized.
Through the use of an ENS name, you are able to give each wallet a customized name. This makes it much easier to keep track of your various wallets and also allows you to share them more easily with others.
12. .Eth Domains are Great For Building Trust in Your Business Ventures
if you’re a business owner, an ENS domain name can help give your business venture more credibility. This is because it shows that you are serious about the project and are willing to invest in the security of having a decentralized domain name.
It also shows that you are up-to-date with the latest blockchain technology and are taking advantage of what it has to offer.
13. .Eth Domains are More Secure than Traditional Web Domains
Unlike traditional web domains, ENS domains are stored on the Ethereum blockchain, making them more secure and immune to malicious attacks. They are also backed by cryptography, which means that hackers are unable to access the domain name or modify it in any way.
This makes these domains much more secure than traditional web domains and is a great option for anyone looking to protect their data from malicious attackers.
14. .Eth Domains are a Great Branding Opportunity
Having a unique domain name associated with your project or business can be a great way to create an identity and stand out from the crowd.
These domains are the perfect premium domains for any business or project. They are easy to remember and are more reliable than traditional domain names, which have a long eth address.
What’s best is that, in the long run, you’ll be able to have ownership over your own human-readable name for your brand.
15. .eth Domains Can Be Used to Email to Any .eth Wallet Address
Finally, .eth domains are also useful for sending emails to any .eth wallet address.
Mailchain helps in the enablement of this web3 communication functionality!
This allows you to send secure emails with the assurance that your messages are being sent directly to the recipient without any middleman involved.
So if you are looking for a way to send secure messages quickly and easily, an ENS domain is the perfect solution.
With so many advantages, it’s definitely worth investing in some premium domains.
Not only are they more secure than a traditional web domain, but they are also a great way to build trust with your users, create aliases for smart contracts, and are a great branding opportunity.
What’s the best part about getting one?
The process of buying an ENS domain is easy and straightforward, and it’s a great way to get started with blockchain technology.
If you are looking for a reliable and secure domain name, then .eth domains are worth your time and money.
So go ahead and start exploring the world of ENS names today!
Read how to purchase your own ENS (.eth) domain here!
If you’d like to find out how to get your own NFT domain instead, read this article on the best NFT domain marketplaces where you can purchase one for yourself.
Justin is the founder and author of Justjooz. He is a Nanyang Technological University (NTU) alumni and a former data analyst.
Now, Justin runs the Justjooz blog full-time, hoping to share his deep knowledge of business, tech, web3, and analytics with others.
To unwind, Justin enjoys gaming and reading.