Cryptocurrency

Vitalik Buterin poll reveals community want 5-letter .eth domain name for $100

A Twitter poll by Ethereum co-founder Vitalik Buterin found that nearly 50% of the cryptocurrency community believe that a five-letter .eth domain name will cost less than $100 over 100 years. became clear.

Vitalic Buterin ENS Poll
Source: Twitter

Respondents from the community said that the “under $100” price is the best because it guarantees inclusiveness for everyone, but some argue that the price should be higher because domain ownership lasts 100 years. There is also

Rodney Ramsey said, “Since .eth is of little use outside of speculation, registrations should be made as cheaply as possible. Any price will do if people want to speculate and trade them.”

When Buterin responded to some community members, it became clear that he was trying to stop domain parking by “scalpers” and give smaller players the opportunity to own those domain names.

Meanwhile, some community members argue that Buterin should let the market determine the value of these five-digit ENS domain names.

At press time, over 85,000 people have taken part in the vote.

Buterin Calls for Taxation on ENS Domains

Vitalik Buterin recently was suggested A 3% annual fee for the highest bidder’s ENS domain name.

According to Buterin, ENS domain name owners must pay 3% of the highest bid for their address each year to maintain ownership. An investor with her highest bid for a domain of $500,000 would have to pay taxes of $15,000 annually.

According to him, this will motivate people to hoard unused domains.

ENS domains on the rise

ENS domain names have seen massive adoption and growth in recent years.

According to available data, ENS domain names generated $4.7 million in protocol revenue while adding over 300,000 new .eth registrations in August.

It also revealed that ENS domains added 34,000 new accounts with at least one ENS name and had the third highest revenue in August with 2,744 ETH ($4.3 million).

Community members attribute the growth of the ENS domain name to the Ethereum merge.

The use of .eth names has become trendy within the cryptocurrency community as several influential Twitter accounts have started using .eth names as their profile names.

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