As Ethereum Name Service (ENS) domains grew to become popular, the conversation has steered toward .eth domain prices and just what is regarded as a “fair” cost to ensure possession for a century.
Inside a Twitter thread, Ethereum co-founder Vitalik Buterin requested the city what cost they believe is suitable for registering and keeping possession of the 5-letter .eth domain for a century. Buterin gave four options: under $100, $100–$999, $1000–$9999 and $10,000 or even more.
Almost 50% from the 91,130 votes find the most cost effective choice of having to pay under $100 for 100-year possession of the .eth domain. One respondent said that it makes sense to become expected as people always want the least expensive method of getting good returns. However, another community member contended which costs ought to be exponential as time passes. The consumer thought that $a million is definitely an appropriate cost for a century.
The expense for traditional domains vary with respect to the name registered. Website name providers like Namecheap and GoDaddy sell normal .com domains from $1 to $13 yearly with no add-ons. Following a year, the rates usually go greater because the marketing period involves an finish. However, premium domains could be more pricey, varying from $1,000 to $50,000 and beyond, with respect to the website name selected.
Probably the most costly purchase of the ENS domain happened in October 2021 when paradigm.eth was offered for 420 Ether (ETH), worth $1.5 million at that time. The second-largest purchase happened in This summer 2022, when 000.eth was purchased for 300 ETH, around $320,000 during the time of purchase.
Related: Ethereum Name Service registrations surge by 200% among lower gas charges
The founder and lead developer of ENS, Nick Manley, lately told Cointelegraph the team didn’t realize how valuable ENS would become as increasing numbers of users began to mint .eth domains. Manley believes that lots of people register ENS names since it “serves his or her decentralized profile.” It provides people a method to identify themselves across various applications and platforms.
