Coinbase, one of many world’s hottest cryptocurrency web sites, has formally introduced a partnership with the Ethereum Naming Service (ENS) to create distinctive cb.id usernames. Coinbase hopes the brand new partnership will improve Web3 adoption amongst its customers. Actually, for the reason that early announcement between the 2 corporations in September, ENS registrations have considerably risen.
Coinbase and ENS crew up for cb.id usernames
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The brand new partnership between Coinbase and ENS will create distinctive cb.id usernames. Importantly, these are free to assert for everybody. Moreover, to simplify the method, current .eth addresses can simply join their current names to the brand new Coinbase ID system.
In a tweet confirming the brand new partnership, @ensdomains tweeted, “ENS + Coinbase. Aligned with our mission to make web3 extra accessible, we partnered with @coinbase to create CB id usernames, a free-to-claim web3 username! Present .eth addresses can join current names to seamlessly transact and construct out your web3 digital id.”
So, the advantage of proudly owning a cb.id username is that customers can now assemble a decentralized digital Web3 id. The partnership between Coinbase and ENS will make additionally Web3 extra accessible for tens of millions of Coinbase customers.
The brand new partnership goals to resolve key issues in Web3 adoption
One of many core issues within the worldwide adoption of Web3 and cryptocurrency is the 42-character addresses consisting of random numbers and letters.
That is intimidating for novices and might trigger issues if folks kind the handle mistaken throughout a transaction. ENS and Coinbase need to remedy this by providing a simplistic personalised identification system.
ENS is vastly well-liked now and lots of argue that that is the way forward for blockchain addresses. Final week, Shark Tank investor Matt Higgins, introduced an ENS area for $50,000.
The journalist is a writer and digital nomad. Loves thinking, learning, and writing about all things Web3, particularly its impact on major creative industries.