February 10, 2024 4 min to read

ENS Partners with GoDaddy

GoDaddy Launches "Crypto Wallet"

ENS and GoDaddy Collaboration: Pioneering a New Era in Web3

ENS and GoDaddy

In an exciting development on February 5th, the Ethereum Naming Service (ENS) announced a groundbreaking partnership with GoDaddy, making the introduction of “Crypto Wallets” for regular domains (such as .coms) to seamlessly function as ENS names. This innovation involves linking a conventional domain name on GoDaddy’s Crypto Wallet with an Ethereum address, thereby rendering any name compatible with an Ethereum address.

Why is this collaboration a game changer?

Firstly, it marks a significant milestone with GoDaddy’s entry into the Web3 space. While other registrars have already embraced new Web3 technologies, such as Namecheap, Porkbun, and Encirca, GoDaddy’s participation, as the largest registrar, underscores the mainstream adoption of blockchain technologies.

Secondly, the partnership addresses the prevalent issues of domain squatting and speculation surrounding ENS domains and trademarks. Previously, there were instances of exorbitant offers for ENS domains like “amazon.eth” (which had a 1 Million USDC offer at the time), indicating a lucrative market for domain speculation. However, with this integration, companies can leverage their existing Web2 domains, mitigating the need for contentious acquisitions and trademark disputes. While native .eth names remain valuable, this move reduces the prevalence of squatting and trademark infringement concerns.

Lastly, this collaboration serves as a clear invitation to onboard to Web3, presenting a hybrid model that merges the strengths of Web2 and Web3 technologies. By offering “Crypto Wallets” on regular domains, GoDaddy extends the reach of blockchain technologies to a vast user base and traditional Web2 companies, fostering greater awareness and adoption of ENS, Ethereum, and blockchain-related technologies.

GoDaddy’s Crypto Wallet in action

Not Blockchain Domains, but “Blockchain Identifiers”

In a further embrace of blockchain technology, GoDaddy released an insightful article titled “Blockchain identifiers: Are they ready to compete with the DNS?” on February 10th. The article provides a comprehensive overview of DNS history while introducing emerging technologies like blockchain and their potential applications.

While discussing startups like ENS and Unstoppable Domains, GoDaddy accurately highlights the emergence of blockchain-based naming systems. Then, the article talks about ENS and Unstoppable Domains as startups launching “their own naming systems” and making the point of innacurately calling them “blockchain domains”.

They say:

Startups like Ethereum Name Services (ENS) and Unstoppable Domains have launched their own naming systems to issue blockchain identifiers (sometimes inaccurately called “blockchain domains”) as a means to link user-friendly strings to a unique wallet address.

GoDaddy is now introducing this new term: “blockchain identifiers”. This comes as a result of one of the main challenges in our space: name collisions. We know this is an ongoing concern since the conflicts like Handshake’s .wallet vs. Unstoppable Domains’ .wallet (which is still under litigation).

The author then presents these limitations as the “Wild West”. While it is true that with new technologies problems and interoparability concerns might occur, the discussion should not be presented it from a FUD (Fear, Uncertainty, and Doubt) angle, but rather from an opportunity for growth and collaboration.

GoDaddy writes:

As a result, instead of replacing DNS, blockchain technology and crypto wallets can be supported by DNS.

This is an important misconception to be addressed. These blockchain domains are not meant to “replace” tradional Web2 domains, but rather to empower them. We should emphasize their complementary nature and enhanced functionality. Luckily, the article later acknowledges the potential for collaboration between DNS and blockchain technologies as GoDaddy writes:

Rather than replacing the DNS, it’s more likely that blockchain evolution will spur new use cases for DNS to bridge the two systems. With GoDaddy domains supporting ENS wallets, we are beginning to see that potential.

In conclusion, GoDaddy’s jump into the Web3 space through partnerships like ENS signifies a significant step towards mainstream adoption and integration of blockchain technologies. While there may be differing perspectives on terminologies like “Blockchain Identifiers”, such discussions are essential for shaping the future of the industry.

This article by GoDaddy marks the beginning of important conversations within our space, and GoDaddy’s openness to Web3 names signals promising developments in the realm of domain registration and blockchain integration. As we look ahead, the adaptation and evolution of these technologies by industry leaders like GoDaddy will undoubtedly shape the landscape of the digital economy in the years to come.