Cryptocurrency

Ethereum Name Service developer identifies challenges in Vitalik’s fee proposal

Zegex

Ethereum Name Service (ENS) Lead Developer Nick Johnson Said Before implementing Vitalik Buterin’s new fee structure, we need to make some changes to the protocol.

The first point raised concerns about the types of names and the extent to which this would make a difference to the fee structure. emphasized that there is

Most proposals for using market-based pricing, he said, focus on generic terms, which are unlikely to apply to other names such as human names or brand names. .

For example, while it’s beneficial for a generic term to ultimately lead to someone who will put it to good use, this may not be the case for human names or brand names.

He argued that brands should not struggle to retain names that have gained popularity through hard work.

Johnson continued that the naming system also has externalities to consider, making it less attractive for those who have names to pay more. bears most of the costs.

Harberger Registrar

The ENS developers also discussed an idea they dubbed Harberger Registrars. This will allow ENS to issue he one-letter and two-letter names under different rule sets.

This system pays character names based on the Habergar tax system.

The original owner pays rent based on the value added to the name, but anyone who purchases a subdomain of the name retains ownership if the parent domain is transferred.

sub domain

Another ENS developer, Jeff Lau, conceded that the domain name may have been too cheap given that the three-letter names sold out quickly.

Lau continued that Buterin’s proposal focused on congestion issues and ENS DAO funding, with less consideration for accessibility.

She continued that subdomains could help solve “Vitalik’s prediction that there will be no need to register meaningful .eth names” while also providing more accessibility.

“The ENS pricing was designed to change all the time,” said Lau, “because we *knew* that it probably wouldn’t work the first time and would need to change. “

Buterin argued that ENS domain names are cheap.

Buterin argued that ENS sold most domain names at low prices, allowing squatters to obtain most of the domain’s valuable names.

He went on to say that low pricing would not bring enough profit for ENS DAO.

To solve this, buterin Recommended Better pricing that ties the level of market demand to domain fees and guarantees time-limited ownership.

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