ENS (Ethereum Name Service) has partnered with Coinbase to make “cb.id” usernames available on Coinbase’s iOS and Android mobile apps. This means that 103 million app users can now link “cb.id” usernames to their mobile wallets.
Timely partnership
This partnership will allow Coinbase users to easily and securely send and receive cryptocurrency payments using their “cb.id” username, rather than having to share their long and complex cryptocurrency addresses.
This is expected to improve the user experience and make it easier for people to use cryptocurrency for everyday transactions.
Ethereum Name Service names have gained popularity in the cryptocurrency and blockchain communities as a way to easily and securely identify and interact with Ethereum-based assets. They have been adopted by a number of companies and organizations as a way to make it easier for users to interact with their products and services on the Ethereum blockchain.
The use of ENS names shot up by over 200% during the bear market when gas fees decreased. Lower gas fees allowed users to have a decentralized identity that works across multiple platforms. Founder Nick Johnson believes that this is a key reason for the surge in ENS name registrations
One user noted a common problem with ENS domains where some different platforms allow users to create domain names belonging to other companies. This later causes problems and conflicts.
Apart from these users are generally elated by this news and some have already ventured into creating some human-readable ‘usernames’ for themselves.
ENS Domains popularity soars despite the bear market
ENS reported that it experienced over 2.2 million new registrations in 2022. This represents around 80% of all ENS domains ever created. According to data from Dune Analytics, the highest registration rate occurred in September 2022, with over 400,000 new names registered. The registration pace slowed down towards the end of the year, with approximately 50,000 new names added in December.
From the chart, the high registration rate for Ethereum Name Service in September 2022 may have been influenced by Coinbase’s integration of ENS in late August. Coinbase stated that these ENS addresses could be used to send, receive, and trade coins, and would be available to both regular and pro users.
ENS notes in the thread that “having mobile access to your wallet with a human-readable name is the kind of accessibility all crypto users need. Together, we are making Web3 simple and effective for all.”