2022 proved to be a fruitful year for the Ethereum name service, as the platform registered 2.2 million domains registered despite unfavorable market conditions for the cryptocurrency space.
According to the service, more than 80% of all ENS domains created since the project began in 2022 have been registered. Data from Dune Analytics shows that ENS had about 2.82 million registered names as of January 2, with 630,340 ENS domain owners.
As Cointelegraph previously discovered in an exclusive interview with founder Nick Johnson, ENS allows users to map human-readable names like “nick.eth” to machine-readable information like cryptocurrency addresses and URLs.
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The service is driven by users who adopt ENS names for decentralized profiles that run across decentralized applications and systems. ENS domains serve as Ethereum wallet addresses, cryptographic hashes, or website URLs and are effectively non-perishable tokens (NFTs).
Related: Ethereum Founder Survey Shows People Want $100 .eth Domains For Life
The growing popularity of the service has seen a number of partnerships emerge with major exchange operators such as Coinbase. The US exchange announced ENS integration in September 2022, giving users the ability to replace traditional Coinbase cryptocurrency wallet addresses with language-based usernames.
While the default ENS domains end in .eth, the Coinbase integration of the service allows users to claim “name.cb.id” usernames using the Coinbase Wallet browser extension. Coinbase’s adoption of ENS was driven by the benefit of human-readable names in making Web3 more user-friendly.
Data shows that September saw the highest number of ENS registrations created in 2022, with 437,000 domains registered. Data shows that ENS integration on the exchange greatly impacted new sign-ups in 2022. May 2022 was also a rich month for the service, as low gas fees on the Ethereum network played a role in a surge in .eth domain registrations.
