Web3 Domain: From a Long String of Addresses to Your Exclusive Network Identification

If you're still copying and pasting those ridiculously long Wallet Address for transfers, then you may not have discovered Web3 domain names – in simple terms, it's just a way to give your Wallet a memorable name.

What exactly is a crypto domain?

Imagine not having to remember something like 0x742d35Cc6634C0532925a3b844Bc9e7595f42bE anymore, and directly using yourname.eth or yourname.crypto to receive transfers—this is the core value of Web3 domain names.

Technically speaking, these domain names are essentially NFTs, stored in smart contracts on the public chain, permanently bound to your Wallet. No one can delete it, censor it, and there is no central management organization like ICANN. You own it completely and can use it as you wish. However, note that certain domain names need to be renewed periodically to continue holding them.

Several Mainstream Web3 Domain Services

ENS (Ethereum Name Service) is currently the most mature option with the most complete ecosystem. You need to purchase and mint it on the market using ETH, and the cost depends on gas fees and domain popularity. Rainbox, MyCrypto, and Coinbase Wallet have all integrated ENS, and it can also be accessed directly using the MetaMask browser.

Unstoppable Domains follows a multi-chain approach, mainly deployed on Polygon, aiming to connect Web2 and Web3 users. Domain names like DappRadar.crypto are much easier to use and remember than that long hexadecimal Address.

SPACE ID is a cross-chain domain service that is not restricted to a single public chain and is fully open source. Recently, it has partnered with the exchange Phemex, allowing users to withdraw assets directly using .bnb, .arb, and other domain names—this integration is indeed convenient.

The domain registration process for Solana is the simplest; you only need to make a transfer, and it supports multiple wallets such as Phantom and MathWallet within the ecosystem. Some domains can even be bid on in the auction market.

Why is this matter worth paying attention to?

The demand for Web3 domain names is continuously increasing, and prices are rising as well. For brands, having a dedicated domain name that can be used in the metaverse, NFT market, and blockchain games is equivalent to establishing a presence in the Web3 world. For ordinary users, there is no longer a need to worry about inputting the wrong Address due to shaky hands during transfers.

This wave of technology is actually paving the way for the next generation of the internet - a blockchain-driven, decentralized naming system that makes asset circulation more humanized.