From IP Addresses to ENS Domains in Web2 and Web3

Before search engines like Google came into existence, accessing information on the Internet was a daunting task. One of the biggest challenges was having to remember and type in the IP address of any website, which was a combination of numbers that were difficult to remember and often resulted in errors.

However, thanks to the power of DNS (Domain Name System), accessing information and websites has never been easier. DNS acts as a tech layer that translates IP addresses into simple and memorable URLs, making it easy for users to find and access the information they need.

The world of web2 saw owning a domain as the ultimate symbol of true ownership. Unlike social media or e-commerce accounts, having a domain meant you had complete control and couldn’t be removed for non-compliance with major website rules.

Now, we’re in the #web3 era, where protocols and dApps prioritize ownership rights. Users have the power to store their own information and money in the form of data in their wallets. However, the challenge now is how to share this information efficiently and conveniently.

Securing your digital space is now even easier with ENS (Ethereum Name Service) on the Ethereum ecosystem. It’s like owning a website in web2, but with added functionality. To get your own ENS domain, connect your web3 wallet to Domainplug.io, search for your preferred name, buy it if it’s available, and validate it on the Ethereum blockchain.

Managing multiple web3 domains can be a hassle, but with a primary ENS domain, it’s easy to share your public address for easy sharing and organization. Step into the future of digital ownership with ENS domains and grab your own piece of the internet.

In conclusion, the evolution of domain names has made it easier for users to access information and securely own a piece of the digital world. With the advancements in web3 technology, owning an ENS domain is not only a symbol of ownership but also a tool for convenient sharing and organization.

Introduction to Ens

The Ethereum Name Service (ENS) is a decentralized system for registering and resolving human-readable names on the Ethereum blockchain. It allows users to create unique, easy-to-remember names for their Ethereum addresses, which can be used in place of long and complex strings of numbers and letters. The long wallet address of “0x6yd7t88snnn” gets to be known as “123.eth.”

Components

The ENS has three main components are: Registrant, Controller, and Resolving addresses.

The registrant is the owner of the ENS name, and they are responsible for registering and renewing the name on the ENS (although non-owners can renew ENS domains even if they don’t own it but does not give them ownership of the domain if they do want to renew it for another owner).

The controller is the Ethereum address that has the ability to manage the name, including issuing subdomains or setting the resolving address. The reason for having a controller is that it provides an extra layer of security that allows the registrant to change the controller if the controlling wallet gets compromised in some way. It allows the registrant to keep the ownership of the property in cold storage and use a hot wallet for day-to-day operations. This is one of the best features of ENS.

The resolving address is the Ethereum address that the ENS name is mapped to, and it is where transactions to the ENS name will be sent. Also, the records section can resolve wallet addresses outside of the Ethereum blockchain, you can put in your bitcoin and Binance wallets in there too!

Costs

The cost of registering a name on the ENS depends on the length of the name and the number of characters it contains.

For example, a name with three characters (e.g., “eth”) would cost 640 a year to register, while a name with four characters (e.g., “moon”) would cost 160 a year.

Names with five or more characters (e.g., “Ethereum”) are much cheaper, at only 5 dollars per year.

Things To Consider

When you buy an ENS domain from a trading platform like opensea.io or Domainplug.io please note that it only changes the registrant, you must go in and manually change the controller and resolving address if you choose to use that domain for receiving payments.

ENS domains can be registered for months at a time, and you do not need to register for the whole year when minting a domain. You can use domainplug.io and it will give you the selection for month or year.

ENS works only on platforms that integrate ENS into it. If a platform has not integrated ENS into their dapps or apps then you must send and receive Ethereum and other tokens using the long wallet address.

In Conclusion

Overall, the Ethereum Name Service is a useful tool for simplifying and streamlining transactions on the Ethereum blockchain. By allowing users to register human-readable names for their Ethereum addresses, the ENS makes it easier for people to interact with decentralized applications and send and receive payments on the blockchain.

Huge News!

Over the past week, Google announced a significant update to its flagship search engine. You can now search Ethereum addresses on Google. This is significant in the sense that this will help optimize lead generation for marketers and tech companies who want to work with the top holders of Ethereum, NFTs, and other web 3-related assets. The upside to this is that it will attract novices to web 3. When a search engine that is as organized as Google gives the ability to easily search for wallet addresses the normal and sane world takes notice. This ease of searchability will allow those with tangible assets to stand out. This search engine add-on for Google will give opportunities to Ethereum holders to brand themselves via Google’s data aggregation software. It will make it easier for businesses to find and work with Ethereum holders who can provide some sort of value to their said businesses. The downside to this is security. If you hold a lot of Ethereum and ETH-based assets and you use a hot wallet the likelihood of you becoming compromised will become higher on the basis that when it is easier to find you it is easier to compromise you. Right now, Google only allows you to search by long wallet addresses. When Google allows you to search an account via ENS records then this market for web 3 domains will absolutely explode and go parabolic.

Is Alphabet Getting into Web 3?

Alphabet getting into web 3 is pure speculation at the moment. If they get into web 3 the livelihoods of their current business models will need to change. The power that Alphabet holds in web 2 with their Google search engine will cause a lot of disruption to the industry. Might they have a model where they have one division for web 2 and one for web 3? Very possible, again all speculation at the moment. Another question to ask is how much power will Alphabet have in web 3. The amount of power Alphabet holds in the current market has been scrutinized for monopolistic practices, and rightfully so. Will Alphabet develop the first viable web 3 search engine based purely on the blockchain? Very likely, as they have the money and resources to make it happen. What upside would Alphabet have in joining web 3 if their current business model is already super profitable? Domains. Yes, domains. ENS domains are taking off right now. With ENS domains you cannot just confiscate them from holders as you can in web 2. Might Alphabet come out with its own domain registrar for web 3 domains? Possibly. Alphabet likes having control over the market and having a blockchain domain system that they can control will be very profitable for them, even if users know it is not completely decentralized. Why? Because Alphabet always provides economic upsides to users and consumers, which is why they always succeed. We give our data to Alphabet for free, but on the flip side, if we want to start a business then the data that Alphabet collects will be very useful to business owners looking to grow and display ads on their websites. It is a double-edged sword that gets lots of heat, but also lots of praise.

Will Alphabet Start the True Web 3 Bullrun?

Yes. Web 3’s ethos has been built on decentralization and freedom from centralized powers like Alphabet. What Alphabet will do though is onboard millions of people into web 3, but will not have complete control over the market as they do in web 2, the flipside though is that they can block websites related to certain projects, but not likely as that would destroy them. Millions of people have heard of NFTs, ENS, and blockchain; but do they have the resources necessary to navigate through web 3 with ease? No. If there is one critical service Alphabet will provide it will be the easy navigation of web 3. Without the ease of navigation, it will be very difficult to onboard novices into web 3.

Will Alphabet Control Web 3 Like They Do Web 2?

No. The only way they control web 3 is by throttling ISPS related to web 3 projects, which would be corporate suicide for them. How will they try to control web 3? By coming out with their own blockchain, a user-friendly blockchain that will onboard novices. Onboarding novices into web 2 is how Alphabet became the most powerful company in the world. Once novices have a good go-around of how a user-friendly blockchain works then they will migrate to more complex and decentralized blockchains like Ethereum.

What Would an Alphabet Blockchain Look Like?

Something very fast, even if it’s not technologically sound or even decentralized. Google’s main objective here will be to explain the transfer of money without a bank to novices in a way that is easily understood. This is something the main core of web 3 will rail against, but they will eventually understand that Alphabet is providing a useful service even to seasoned web 3 users.

Who Benefits the Most from Google’s Ethereum Search Feature?

The main beneficiaries of this search engine feature will be Alphabet itself due to data aggregation and ENS holders who own clean and recognizable names. The possibility of Google’s Ethereum address search feature causing a massive ENS Bullrun will be very high. If you own clean ENS names this will present a huge opportunity for you to lease and sell your domains at high prices. The wealthy want domains that stand out and make them easily recognizable from the competition. This will also benefit law enforcement and government agencies to help crack down on illegal activities when dealing with cryptocurrency transactions, but this can also be a downside to users, because of government overreach. Businesses that want to cater to holders of certain NFT projects will also benefit as it will be easier to find them with the use of a Google search. All in all, this is a net good in terms of the exposure that web 3 will get in the next few years.

Who Will Be Harmed by the Search Feature?

High-value holders of Ethereum and NFTs who do not want to be so public. This will also harm those who want to make high-stakes transfers without letting the market know. What this search engine feature will do os that it will open pandora’s box of where the transactions are coming from in terms of geotagging and ISPs. Many people will be turned off by the heightened transparency this will cause. Nobody likes being tracked. Etherscan.io might also become a victim as it will either get bought out or become outpaced by Alphabet’s search engine protocols. Holders of ENS domains might fall prey to this as well if Alphabet starts buying up ENS tokens en masse as the token is the real vote, not the domain you own.

Capitulation

Is Alphabet’s offering to search Ethereum addresses on Google a capitulation? Yes and no. Yes, in the sense that having a lot of money will not beat out superior technology in the long term. No, in the sense that Alphabet knows that Google provides services in the field of data aggregation that is vital to the global gig economy.

Handshake And Unstoppable Domains

Outside of ENS the only other viable Ethereum blockchain domain services are Handshake and Unstoppable Domains. With the way the market is shaping it is evidently obvious that ENS will beat out UD and Handshake, for right now. Will we see a huge competition take place between ENS, Handshake, and Unstoppable Domains to see who gets a resolved Google search first? It is definitely looking like it. In the end, ENS will win on the basis that it is way more community-driven, and technology superior to Unstoppable Domains and Handshake. Whoever gets their domains on Google searches first will win. If the market is fair, then ENS will clearly win.

What Type of Business’ Will Google’s New Search Feature Create?

Web 3 marketing and consulting agencies will pop up like crazy. With the new web, businesses and creators will want to stand out, and the focal point of these businesses will be to find ways for their clients to stand out in web 3. The questions will be “How can I make my client stand out?” “What does my client need to help them stand out?” “How can I make my client’s image trustworthy?” AI-based NFT projects will also gain traction in the realm of filmmaking as Alphabet will want to leverage its server and power capacity to get into web 3 entertainment. AI-based filmmaking in web 3 is lacking at the moment due to the low server and power capacity of small-dollar projects. If Alphabet gives the green light to NFT creators to use its server and power capacity to make NFT movies then we will have officially entered into a new tier of web 3. Another type of business that Google’s feature will create is the direct-to-consumer economy. Say one day we will all have our physical addresses stored on an Ethereum wallet, what that will do is it will help companies cut out middle-man transport and ship goods directly to the consumer instead of working with third-party transportation companies. This will be the case in entertainment as well, instead of a company licensing their movie rights to Netflix, what they will do is make the movie watchable by proving your identity via the blockchain, cutting out the need for theaters and third-party distribution. Direct to the consumer will lower the cost of goods and services via fewer middlemen. Another business opportunity that will come about from Google’s Ethereum search feature will be the need for blockchain VPNs to mask the location of cryptocurrency transactions.

Blockchain Domain Market

With Google’s Ethereum address search feature, the demand for blockchain domains will rise significantly. Right now in a bear market, many prime and valuable domains are being sold at a very cheap price. The market is speculating that once Google allows Ethereum address searches, then ENS domains will clearly follow. This will make short domains very valuable, and the residual income one can make from leasing these domains will be very high.

How Will Alphabet Fit Into The Web 3 Ethos?

The short answer is that they won’t. The long answer is that the market will capitulate to Alphabet’s attempt to get in on web 3 as they know that Alphabet is one of the few companies that can make complex technologies understandable to the mainstream. Yes, they will try to monopolize, but the technology around these blockchain projects will make it way more difficult for Alphabet to actually centralize and control web 3. The ethos of web 3 is antithetical to Alphabet’s history of monopolization and control, but if they still provide a crucial service then the market will swallow its pride and accept this. Alphabet will gain acceptance by capitulating to the fact that Ethereum and most other blockchains are completely decentralized and that they know they cannot control it and just outright buy it out as they can in web 2. This will assure the market that there is still competition in the realm of cryptocurrency and blockchain technology. Without Alphabet’s search engine technology, the internet as we know it would not be functional, as it would be too disorganized and impossible to navigate. The question now becomes will they create a web 3 search engine that will make web 3 go mainstream? The answer is probably yes, on the basis that they know that if they want to keep their company alive they need to get into web 3. They also know that web 3 is in serious need of a web 3 search engine. They will try to fit into the ethos of web 3 by providing a necessary utility that will gain mass acceptance on the fact that most web 3 search engines at the moment don’t have the stamina to compete with Google’s search algorithms yet.

New Age

All companies strive to be a monopoly, if they did not they would not get into business. In 2021, Microsoft called blockchain domains the next big threat, as they know that most of these domains cannot be confiscated so easily, which basically cuts the power of most ISPs down as domains are used as leverage for ISPs and technology companies to maintain their control. And that is what Google’s new search feature for Ethereum addresses is about, control. They want to control something they cannot control, but they will try and get ahead of it at all costs. Maybe the strategy they will use in web 3 is by taking control of all domain marketplaces and making you sign a smart contract that allows them to confiscate your domains, if need be, but this won’t happen as they know that private dealings are a better option for domain owners and that they will lose out on commissions.

In Conclusion

Google’s Ethereum address search feature is clearly a sign that mass adoption into web 3 is taking place, the only question is when and how, and that a question is only the innovators and the market of web 3 can answer