Now that DNS domain names like .coms are being integrated into the Ethereum blockchain, let’s explore three common but distinct ways that can be done. Pay attention because they’re pretty different!
1. Importing a domain name into the Ethereum Name Service (ENS) – Commonly known as DNS Import, ENS offers a feature that can enable almost any DNS domain to be used as a crypto wallet address. For example, instead of having to type in a long hexadecimal address that starts with 0x, one could simply type in the recipient’s domain name (like decashed.com or eth.loan) and it will resolve to the right address. Here’s a guide on how to do this!
2. Wrapping an imported domain name – In order to wrap a DNS domain name using the ENS NameWrapper, you’d first have to accomplish step 1. Wrapping the domain enables additional features and capabilities on an imported name. Most notable is that wrapping it creates an NFT of the name (See the wrapped form of decashed.com). If I were to send that NFT to you, you’d be able to use it as YOUR crypto wallet address. Pretty cool, right? But be careful! Sending the NFT to someone doesn’t change ownership of the domain name itself, which is a risk, because the domain name owner can actually rescind the NFT from you! Nevertheless, this could be attractive if one wanted to easily switch control between addresses or delegate subdomains as individual crypto wallet addresses to employees or members of an organization. Learn how to wrap an imported domain name here. As an aside, the .art tld in DNS allows users to wrap their .art domains quickly and easy on their website.
3. Tokenizing a domain – The newest setup to enter the ecosystem is still in beta at 3DNS. 3DNS allows a user to fully tokenize their domain name. That means registering a domain name on their registrar also generates an NFT that governs ownership of that domain. (Check out this one here) If that NFT were to be sent to someone else, that person would then have full control over the domain name itself and the sender loses all access to it. Here’s an explanation of the process. 3DNS is also expected to integrate with ENS so that these domains can also be used as crypto wallet addresses. 🤯
The above is a basic and non-exhaustive overview of how DNS domain names can be integrated into the Ethereum ecosystem. If you’re wondering, “wait a minute! where do .eth domains fit into all this?!” Well, .eth is not an established tld in DNS, which actually confers it with a unique benefit, there is no centralized authority in place to assert control over your name. The downside is that it can’t natively operate as a website. However, there are some domain hacks that can help a .eth user be found on the traditional web.