ENS VS. DNS imported ENS names.
? ENS is not alone, there are many web3 domains. However, to my knowledge, the only one that truly ‘plays nice’ with DNS, the web2 naming system, is ENS.
Unlike other protocols, ENS consciously chose this path, and supports the integration/import of DNS names.
? Underutilized, misunderstood – maligned even… imo DNS→ENS import can form a crucial bridge that spans the gap from web2 to web3.
? Coinbase was the first big player to adopt this integration at scale, leveraging their imported https://t.co/KHHaFGywW5 name, and providing FREE subdomains of this name as a service on their platform.
? When this was first discussed questions were raised… why?
Does this mean companies with web2 names can just waltz into web 3 without securing their eth names?
? This debate and these questions reached a peak when Sean the Finance guy revisited and highlighted the process,
https://open.spotify.com/episode/1wMv7fT5lI6KB8h8HVyjIL?si=DhDEYJVmTLuyTQYu4pIY8Q
? Also below is a video on the process of how to import a DNS name into an ENS.
? Let’s take a step back and dissect this yet again. Although DNS imported names may have many of the same abilities as ENS, there are differences.
? How are they the same?
✅ You can send and receive crypto with both
✅ They support the same records
✅ You can use both as your web3 username if you set up your reverse record
✅ Unlimited subdomains
? You technically can create a site using
@eth_limo with a DNS imported name, but it will need to be redirected to the decentralized web version.
? Differences?
STATUS
.eth = decentralized
.com= centralized
? TOKEN ?
ENS names are ERC-721 NFT. They can be easily transferred just like any NFT can.
DNS names are NOT NFT. While a separate wrapper is in the works to turn DNS imported names into ERC-1155 NFT, they will be non-transferrable.
While imported names CAN create subs, they lack a crucial feature of ENS subdomains…
As @serenae_fansubs relayed to me:
“All DNS wrapped names at all levels will not be able to use fuses at all. So no on-chain guarantees of “unrugability” that you get with the NameWrapper with .eth names”
? CONTROLLED ?
ENS names have no admin powers -the registrant of the ENS name is the ultimate owner of the ENS name.
DNS names have admin powers – the security of DNS imported ENS names lies on DNS.
? OWNERSHIP ?
Technically the registrant of the ENS name is the true owner.
The true owner of the ENS imported DNS name is on DNS and security is dependent on DNS.
? BURN ?
ENS names can be sent to the burn address which means it can be sent to an unusable wallet so that it is removed from circulation.
DNS to ENS names cannot be sent to burn addresses
? SECURITY ?
DNS imported ENS names in a compromised wallet can be pulled away with DNS settings and moved to a new wallet.
You can rug a DNS imported ENS name from a hacker because they are under centralized control attached to a decentralized wallet.
? The majority of security of ENS names is relegated to the security of the crypto wallet it is in. That said, crypto has powerful features like multi-sig wallets that provide functionality not possible in web2.
? DNS imported ENS names imo is an underutilized/overlooked use case for ENS.
For the month of October there were only 80 imports made… since August of ‘21, the peak total imports in any given month were 100 in July of ‘22 (ty @financeguy74 for providing me with the stats).
? So long as this option remains supported by ENS, I predict more companies will begin to use the DNS import option, likely viewing it as a safer way to gain the benefits of ENS.
That said, I would expect these same companies to ALSO look to acquire their brand name as .eth…
? Comparing the use case between native ENS .eth names and transient, DNS imported ENS names raises a few deeper questions for me.
? What better safeguards and controls does crypto need to promote mass corporate and consumer adoption?
What marketplace tools or features might facilitate corporations purchasing existing names from speculators?
? Did I miss something? Want further clarification? Weigh in with your comments below.
Thanks to serenae and finance guy for providing me with some info and see the article below that helped me with the bulk of the info.
& as always, if this has helped you please share ?