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Ethereum to Acquire Top-Level Domain Name with New Partnership



Ethereum to Acquire Top-Level Domain Name with New Partnership
Source: Unsplash

As per the official announcement it has been asserted that Ethereum has entered into an agreement with a chunk of end-to-end domain services ‘Minds + Machines Group Limited (MMX)’ that will enable Ethereum Name Services (ENS) to avail a high-class domain name.

With this partnership, Ethereum (ETH) customers will be able to issue their addresses with MMX’s a leveled domain named ‘.luxe’ (an abbreviation for Let U Xchange Easily) is all set to unveil soon.

The .luxe will eventually join its pre-launch phase in the coming future and then will be made available for the user for sale by the end of October. Once the domain gets registered with the .luxe zone it can automatically be integrated with the Ethereum blockchain and all the other related features like DApps, smart contracts, and the distributed storage.

The user in order to access it can then choose any suitable domain name in order to carry the other identification function of an individual’s ETH asset, in case of using the unnecessary 40 characters long identifiers.

In addition, the .luxe extension will help to resolve the internet based traffic. This will benefit the user to utilize the same address they used for Ethereum based services in order to carry other internet related functions.

The CEO of MMX, Toby Hall stated that:

“We already know from Ethereum’s test in its non-ICANN authorized .eth zone that there is a real proven demand for world-based identifiers that are blockchain enabled, ENS having received deposits over $28 million on approximately 300,000 seven character words and above in the .eth zone. We look forward to working with ENS to allow those .eth registrants the opportunity to claim their equivalent .luxe name before the Company launches .luxe for sale to the general public in late October.”

ENS was introduced in the year 2017 on Mainnet, this makes comparatively easier and cheaper to register names of their choice ending with “.eth” with the help of the bidding process.

It is a fact that ENS was basically Ethereum’s first move towards cryptocurrency aggregate mass, strengthening reliable and convenient ETH addresses to the customers. ENS has the capacity to allow its user to create a user-friendly address, for example, AdamJohn.eth.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Rupali Sinha is a journalist at Koinalert. She covers the latest news and updates related to Blockchain technology and cryptocurrencies.