Advancements in Web3 Usernames Driving Greater Adoption
In 2017, the Ethereum Name Service (ENS) revolutionized the Web3 ecosystem by introducing blockchain usernames and Web3 domain names. These usernames replaced the complex crypto addresses with easy-to-remember names. For example, instead of using the address 0xd8da6bf26964af9d7eed9e03e53415d37aa96045, Ethereum users can now send crypto to Vitalik Buterin by using the username vitalik.eth. However, despite the convenience offered by Web3 usernames, their adoption has been relatively low.
Out of over 200 million unique addresses on Ethereum, only 2.2 million .eth names were registered as of January. This means that more than 97% of Ethereum addresses are not associated with a Web3 username. This lack of usernames poses a challenge to the user experience in the Web3 ecosystem. If early email addresses had consisted of long strings of characters, email might not have become as popular as it is today.
Wallet Integration and Free Usernames
To address the low adoption of Web3 usernames, some advancements have been made in wallet integration. Wallets such as MetaMask, Coinbase Wallet, and Trust Wallet now allow users to send crypto using .eth names. However, new users still see the crypto address by default, requiring them to register a username with a specific provider. The process of registering a Web3 username can be cumbersome and expensive, with ENS names typically costing $5 and expiring after a year.
To encourage greater adoption, some wallet apps are now offering free domain names to their users. For example, Coinbase Wallet provides new users with a single free .cb.id username per year. This recent practice of giving away free usernames may lead to an increase in the adoption of Web3 usernames in the future.
Chat Messaging with Web3 Usernames
Another advancement driving the adoption of Web3 usernames is the integration of usernames in chat messaging apps. Blockscan Chat and Grill.chat are examples of messaging apps that allow users to send messages using Ethereum addresses or ENS usernames. While sending crypto is still possible without a Web3 username, the ability to find and message users by their usernames enhances the user experience and may attract more users to adopt Web3 names.
Cross-Chain Web3 Names
Initially, ENS was the only naming protocol available for creating Web3 names, and it could only be used on Ethereum. However, with the growth of the Web3 ecosystem and the rise of different chains, there are now multiple naming protocols available. Users can register usernames on chains such as Polygon, Solana, BNB Chain, and others using protocols like Unstoppable Domains, Space ID, and Bonfida.
While this expansion of naming protocols offers more choices to users, it also introduces fragmentation and confusion. Integrating usernames from multiple chains into wallets and block explorers can be challenging, and users may find it difficult to keep track of their usernames across different chains. Projects like Redefined and Did.id are addressing this issue by creating single names for identities across multiple chains. This simplifies the process for users and may drive the adoption of Web3 usernames.
The Path to Mass Adoption
Despite these advancements, mass adoption of Web3 usernames still faces several challenges. Currently, over 90% of Web3 addresses are not associated with a username, indicating the uphill battle for adoption. Users still need to copy and paste complicated strings of characters to verify someone’s Web3 identity, and the cost of registering a username in most wallet apps remains high.
Nevertheless, the recent advancements in wallet integration, chat messaging, and cross-chain names pave the way for future adoption of Web3 usernames. As the Web3 ecosystem continues to grow and improve, these usernames may become more widely adopted, enhancing the user experience and fostering a sense of community within the crypto space.
Web3 usernames offer a significant improvement to the user experience in the crypto space. By replacing complex crypto addresses with easy-to-remember names, Web3 usernames simplify the process of sending and receiving crypto. The recent advancements discussed in this article show promising signs of increased adoption, but there is still work to be done. The industry must continue to innovate and develop user-friendly solutions to encourage the widespread use of Web3 usernames. Stay updated with the latest crypto news and developments by visiting Uber Crypto News.