Over 2.2 million ENS domains were registered by the end of 2022, thanks in part to interfaces with exchanges and industry participants.
Despite poor market conditions in the cryptocurrency field, 2022 proved to be a profitable year for Ethereum Name Service, with the platform generating 2.2 million registered domains.
According to the service, in 2022, more than 80% of all ENS domains created since the project’s commencement were registered. According to Dune Analytics, ENS has over 2.82 million names registered as of January 2, with 630,340 ENS domain owners.
As Cointelegraph previously reported in an exclusive interview with founder Nick Johnson, ENS enables users to map human-readable names such as “nick. eth” to machine-readable data such as bitcoin addresses and URLs.
The growing popularity of the service has spawned several partnerships with major exchanges such as Coinbase. The American Stock Exchange announced the merger of his ENS in September 2022. This will allow users to replace their traditional Coinbase cryptocurrency wallet address with a language-based username.
The typical ENS domain ends in.eth, however Coinbase’s service integration allows customers to utilise their Coinbase wallet browser extension to request a “name. CB.id” username. The use of human-readable names to make Web3 more user-friendly aided Coinbase’s acceptance of ENS services.
September had the most ENS registrations for him in 2022, with 437,000 domains registered, according to the data. According to the data, the ENS integration of the exchange had a substantial impact on new registrations in 2022. May 2022 was also a record month for the service, with to low gas prices on the Ethereum network, which aided in the increase in.eth domain registrations.