Blockchain 101|The elephant in NFT:What is ENS?

TokenPocket now supports ENS protocol transfer. In order to let more people get to know deeply about ENS, we invited Brantly Millegan, the Operations Director of ENS, to attend our AMA event. The following are the answers from Brantly, and thanks to Mr. An, the founder of ENSUser for providing us the in-depth questions of the interview!

# Questions
1. Please Briefly introduce to the audience of ENS team and your role in ENS?

Briefly:ENS is the leading blockchain naming protocol. I’m director of operations.

2. How will the funds for ENS domains sale and renewal be used? The current funding support of the ENS team is provided by domain registration or from the Ethereum Foundation? Will the registration income be used to feed back the Ethereum ecosystem?

Briefly:They will be used to funds ongoing maintenance and development of ENS. The ENS team has mostly been funded by grants from various organizations, led by the Ethereum Foundation, but we plan for our long term funding to come from funds raised by .ETH name registrations and renewals.

3. ENS has supported domain service of 109 chains through Gitcoin. What tasks and development plan will be distributed through Gitcoin in the future?

Briefly:We don’t have specific plans for new bounties on Gitcoin right now, but we may use it in the future. My experience with Gitcoin was very positive. We fast responses from competant people very quickly.

4. What’s your opinion on cybersquatting? Could moderate-level hype of cybersquatting stimulate the popularization of ENS domains?

Briefly:We can’t stop name squatting completely, but we’re generally against it. We’d like names to be owned by people who are actually using them. This is actually a primary reason that .ETH names have a cost for registration and renewal, so discourage large scale squatting.

5. You have realized the staking and lending of domains through RocketNFT, what are the obstacles and advantages do you think to the development of domains as NFT assets in DeFi applications?

Briefly:Yes! ENS names mostly have the same advantages and disadvantages as other NFTs (e.g. difficulty in valuation, low liquidity, et al). One unique thing about .ETH names is that you can transfer ownership of the name to someone else but retain the ability to set the records. This allows you to use your .ETH for collateral for a loan while still using it.

6. Have you considered distributing govnance tokens via mining to stimulate the popularition of domains and the depth of market?

Briefly:Governance tokens are gaining popularity, and it’s something we’ve explored somewhat, but right now we have no specific plans. Whatever we do, we want ENS to be able to succeed for many decades to come.

7. ENS ecosystem is not only the .eth domain, but also a support to traditional domains(.xyz etc) through technical means, and launched the cooperation with ICANN. What kind of cooperations would you carry out with traditional domain companies, btw have you ever considered taking .eth under your belt?

Briefly:We don’t have any formal relationship with ICANN, though we’ve attended and presented at their events and know people in that community. We view ENS as part of the greater naming infrastructure of the Internet, so we want ENS to be compatible with DNS. Re cooperation with traditional domain companies, the DNS registrar EnCirca supports .ETH names, some browsers like Opera and Brave support ENS+IPFS websites, and we’re always open to other projects.

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Crypto&DeFi Wallet on BTC, ETH, BSC, HECO, TRON, Polkadot, Kusama, Klaytn, HSC, EOS, etc. APP download link: https://www.tokenpocket.pro/

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TokenPocket

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Crypto&DeFi Wallet on BTC, ETH, BSC, HECO, TRON, Polkadot, Kusama, Klaytn, HSC, EOS, etc. APP download link: https://www.tokenpocket.pro/

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