Ethereum to Acquire Top-Level Domain Name With New Partnership | Cryptocurrency
Ethereum has entered into an agreement with a provider of end-to-end domain services Minds + Machines Group Limited (MMX) that will let Ethereum Name Service (ENS) get a top-level domain name, according to an Aug. 3 press release.
Under the agreement, Ethereum’s (ETH) consumers will be able to register their addresses with MMX’s top-level domain .luxe (an abbreviation for “Let U Xchange Easily”), which is set to be launched “soon.” The .luxe extension will reportedly enter its pre-launch phases in the near future, and go on sale to the public this October.
Any domain registered within the .luxe zone can reportedly be integrated with the Ethereum blockchain and all associated services like decentralised apps (DApps), distributed storage, or smart contracts. Users will be able to choose any “user friendly” domain name, which will carry all functions of the identification of an individual’s ETH asset, instead of existing 40 character identifiers.
Additionally, the .luxe extension will enable names to “resolve over the Internet in the normal way for email or web-based traffic.” This will reportedly let users to perform their traditional Internet activities along with the same address they use for their Ethereum related items or services. Toby Hall, CEO of MMX, commented on the collaboration:
“We already know from Ethereum’s test in its non-ICANN authorized .eth zone that there is a real proven demand for word-based identifiers that are blockchain enabled, ENS having received deposits of over $28 million on approximately 300,000 seven character words and above in the .eth zone. We look forward to working with ENS to allow those .eth registrants the opportunity to claim their equivalent .luxe name before the Company launches .luxe for sale to the general public in late October.”
ENS was launched on mainnet in May 2017, featuring an automated registrar process which allows anyone to easily and cheaply register names ending in “.eth” using an auction process. Basically, ENS was Ethereum’s first step towards cryptocurrency mass adoption, bringing readable ETH addresses to the public. ENS enables anyone to create a much more user friendly address like for example JohnDoe.eth.