1inch Set To Compete With ENS As It Partners With Unstoppable Domains | Bitcoinist.com


The Ethereum Name Service (ENS), launched in 2017, is the most popular and widely used blockchain naming system, and 1inch is now making a move to compete with the brand. Following reports, ENS got over 600,000 names registered among over 269,000 unique owners in 2021 and over 400 integrations in several platforms.

ENS runs a decentralized system that allows users to manage their domain, making it very secure. In addition, the centralized system enables transactions to occur without passing through complex addresses.

How To Get Free Crypto  
Win an all-expenses-paid VIP trip to the FIFA World Cup and $30,000 in exclusive prizes with Punt Casino – the Road to Qatar awaits!
5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The DNS has remained unmatched in the Web3 ecosystem for a long time, but that’s about to change. 1inch network announced news of its collaboration with Unstoppable Domains, an NFT domain name provider, on October 4.

This indicates that 1inch is planning to move into the decentralized domain ecosystem where ENS is currently the King.

The official announcement revealed the partnership project would replace complex wallet addresses with domain names, making transactions more user-friendly. This portfolio is the same as the ENS portfolio, which uses domain names in place of complex Ethereum addresses.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?

Expensive Domain Name, But User-Friendly

The new domain name offer is not cheap. Unstoppable Domains generates domain names by minting them as NFTs. Generating the names as NFTs makes them permanent, and holders can maintain the domain names forever. However, the words come at high costs, as high as $10,000 for popular and rare titles.

Unstoppable Domains offer different crypto domain names that end with NFT, Wallet, Crypto, Bitcoin, Blockchain, 888, and DAO. 1inch wallet users can interact with wallet names like money.crypto, and betty.NFT, victor. Wallet, and so on, while ENS names end only with .eth. According to Unstoppable Domains, the wallet names can serve as digital identities when running transactions.

Coinbase Banner  

Ethereum trades in green zone l ETHUSDT on Tradingview.com

1inch Co-founder, Sergej Kunz, commented on problems facing the Web3 systems. He said security, identity, identity, and user experience are problems preventing the mass adoption of Web3.

Kunz further said the partnership between 1inch and Unstoppable Domains would make Web3 more attractive by creating opportunities to overcome the challenges.

Unstoppable Domains is quite popular within the crypto ecosystem. The firm has registered 2.6 million names and integrated 453 platforms, including ShapeShift, Trust Wallet, OpenSea, Coinbase, and Brave browser. In Comparing ENS to Unstoppable Domains, data shows that ENS has registered 2.17 million names and over 500 integrations.

1INCH Price And ENS Price Outlook

1inch Network is a decentralized Finance project aggregator with a native token called 1INCH. The assets remained low with other DeFi assets for months during the bear market.

FreeBitcoin Banner  
Featured image from Pixabay and chart from TradingView.com

Go to Source
Author: Sarah

Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.