The figures represent 80% of all registrations since the service launched.

Over 2.8 million domain names were registered via the Ethereum Name Service in 2022.

Source: ENS saw a record year in terms of new users and domain registrations. (Dune)

Ethereum Name Service (ENS) saw lifetime record domain registrations in 2022 amid a broader market frenzy that saw some traders treating the domains as investments.

ENS is a decentralized domain name protocol that runs atop the Ethereum network. It provides users with an easily readable name such as “abc.eth” instead of a complex, long-form alphanumeric address for their crypto wallets, similar to the way the Domain Name System substitutes memorable names such as "coindesk.com" for websites' numeric Internet Protocol addresses.

Data from Dune Analytics show over 630,000 unique wallets created 2.82 million domain names, with 459,000 of those classified as “primary names.” Primary names are ENS addresses that resolve to a user’s crypto wallet and can be used as a proxy to search for information on blockchain explorers, such as Etherscan.

September saw the most ENS registrations at over 430,000 unique domains while December recorded the lowest at just 52,000 domains, the data shows. The month of May, however, saw the most new users at over 64,000

Some ENS buyers treat the names as investments, purchasing popular and common names and selling them for a profit, research firm Delphi Digital said in a July note last year. At the time, “000.eth” was sold for a record 300 ether, fueling interest in three-digit ENS names as “traders tried to capitalize on the hype,” as per Delphi analysts.

 

By Shaurya Malwa | Original link