Hey Fellow Steemians!
I've been participating in the ENS Domain auction and have been able to win quite a few interesting Dapp Domain names. For those of you who don't know what this about - the ENS Domain names end in ".eth" and act as the domain address for Decentralized Applications, hence "Dapp." While there is currently not a solidified, major commercial use or infrastructure for the domains (maybe there is, I'm still learning), the ENS auction is being considered the ".com Boom 2.0" and I can see why.
Below is a screenshot of a basic Dapp explainer model, taken from an answered question on Ethereum Stack Exchange:
The developers of the ENS Domain Registration Process wanted to avoid squatting, a process in which someone buys a domain name in order to sit on, leaving it a blank page without any utility, I'm sure we've all seen "This domain is for sale, contact the owner to purchase." It's an interesting process and I do believe it deters squatting...but might actually cause the domains to be held by even fewer individuals. Why?
My example - when I first learned that there was an ENS Domain auction happening and that it could be the .com boom 2.0, I immediately began looking into fun, novel ENS Domain names that I would like to use in the blockchain ecosystem I'm creating - I will admit that I am squatting on a few names, but may end up utilizing them. Unfortunately...
I lost my first 10 bids, completely.
because I didn't "reveal" them on time....lucky it wasn't too many Ethers, but nobody likes handing their money away and they were some super cool names. :'( That said, the tactics used to deter domain squatters, might actually push them into learning more about the ETH domains process than the average person who wants their own unique wallet. Below are a couple screenshots from the ENS domain stats:
After reading this rough, ENS Domain/Dapp introduction post:
are you considering purchasing an ENS domain?
have you already purchased an Ethereum Name Service Dapp Domain?
what do you plan on doing with your purchased domains?
are you interested in learning how to register an ENS Domain?
what effects does this have on Ethereum prices?
Thank you for taking the time to read this and I will be making a " How to register an ENS domain name " post by the end of the day. Go ahead and follow for the updates!
Let's keep building this awesome Steemit community fellow Steemians!!
What tactics did they take to further prevent squatting?
Creating an entirely new post that explains the convoluted process of how to register an ENS Domain/Ethereum Name Service Domain for Dapps AKA Decentralizes apps applications.