Ethereum Name Service goes fully decentralized as DAO takes control
Journalist
Posted:
- ENS DAO now controls the Ethereum Identify Service.
- The final month has seen a decline in identify registrations on the protocol.
Ethereum Identify Service [ENS] has achieved full decentralization, with management now firmly within the palms of its token-holding neighborhood. This was confirmed in a latest post on X (previously Twitter) by ENS founder Nick Johnson.
This transfer follows a proposal that was unanimously voted in favor of, which sought the transferring possession of the ENS root key from the multisig system to the ENS DAO.
Sergey Nazarov from Chainlink, Dan Finlay from Metamask, Taylor Monahan from MyCrypto, Aron Fischer from Colony, Jason Carver, and Martin Swende from the Ethereum Basis, together with Johnson and others, have all managed the ENS’ multisig contract up to now.
In accordance with the proposal, aside from having management of the protocol’s root key, the ENS DAO additionally has management over creating and managing top-level domains (TLDs). Whereas the “.eth” TLD is ready and can’t be modified, the DAO can generate and oversee the creation of different TLDs.
Additionally, the physique of token holders has been granted the ability to replace and reverse resolutions. Moreover, in collaboration with the Labs staff, the DAO will discover and probably implement major domains on Layer 2 options (L2s).
Decline in .eth identify registrations since October
In October, the protocol recorded its highest month-to-month rely of ENS identify registrations because the 12 months started. In accordance with a Dune Analytics dashboard, .eth identify registrations totaled 56,869 throughout that 31-day interval.
Nevertheless, this declined in November, as solely 20,877 identify registrations have been made. This represented a 63% decline from the year-to-date excessive. To date this month, ENS has recorded 7,204 identify registrations.
Supply: Dune Analytics
As identify registrations surged in October, the month-to-month rely of recent addresses created on the ENS community additionally rallied.
Info from the identical information supplier confirmed that the protocol witnessed the creation of 49,000 new addresses in October. This additionally declined in November and has fallen additional by 96% this month.
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Supply: Dune Analytics
Concerning month-to-month income created from new identify registrations and renewals, this has trailed downwards since August.
Month-to-month income from new registrations fell by 64% between August and November. To date this month, income created from the identical has totaled $349,000.
