Nick Johnson, the founder and lead developer of ENS, outlined the original goal of the project and its subsequent success since inception in correspondence with Cointelegraph. He highlighted two basic goals of the project: naming Ethereum accounts and decentralized resources such as Swarm and th InterPlanetary File System (IPFS).
Johnson admitted that the team did not realize how valuable the extensibility of the ENS would become as more users began to mint .eth domains. While headlines have highlighted some of the biggest price tags paid for ENS domains, many registrations are carried out by individual users, as the ENS founder explained:
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Johnson admitted that the team did not realize how valuable the extensibility of the ENS would become as more users began to mint .eth domains. While headlines have highlighted some of the biggest price tags paid for ENS domains, many registrations are carried out by individual users, as the ENS founder explained:
It is hard to ignore parallels between conventional DNS flipping and new-age .eth domain trading. A prime example is the Amazon.eth domain, which grabbed headlines in July 2022 after a $1 million USD Coin (USDC) bid was left to expire by the owner, who’d originally paid $100,000 for the highly sought-after .eth name.“Most people today register ENS names because they serve as their ‘decentralized profile’ — they let people identify themselves with a name, profile picture, social media handles etc., in a way that works across many apps and platforms.”
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