The concept and future of Web3 domains: My personal vision

What a madness this Web3 domain thing is! After spending hours researching this technology, I have to admit that I am blown away by the possibilities. But not everything is as rosy as they want us to believe.

What the hell is a Web3 domain?

Forget about the typical .com or .io domains that we all know. Web3 domains are something completely different. While regular addresses are controlled by large centralized corporations, these new decentralized domains live on the blockchain.

My crypto address has 42 impossible-to-remember hexadecimal characters... a true nightmare! With a domain like "carlos.crypto", I can receive payments without having to share that alphanumeric horror. Finally!

These domains are actually NFTs that you can buy and sell like any other digital asset. The curious thing is that they come with extensions like .crypto, .dao, and .eth. I love the idea of taking back control of our data from the clutches of giants like Google or Amazon, but I wonder if it will really work or if it's just another speculative bubble.

ENS: The service that is revolutionizing Ethereum addresses

The Ethereum Name Service (ENS) is completely changing how we interact in Web3. Basically, it converts incomprehensible Ethereum addresses into names that anyone can understand. Something so simple yet brilliant.

ENS operates with three main smart contracts:

• The Registry: keeps track of who owns what domain
• The Registrar: allows people to purchase domains according to certain rules
• The Analyzer: converts names into real addresses

When they first bought ENS, they used Vickrey auctions for the names. Now you just pay about 5 dollars a year and that's it. Much simpler!

The most curious thing is that there are still very few registered domains compared to the number of blockchain users. This disparity smells like an investment opportunity!

What is a .eth domain really used for

The other day I was trying to send ETH to a colleague and I almost went crazy with his endless address. With a .eth domain, it would be as easy as typing "amigo.eth" and that's it. No errors, no complications.

Additionally, these domains can point to smart contracts or even host metadata. And the best part is that you can rent them! It's like having a digital property that generates yield.

How I got my own .eth domain (easier than I thought)

After much hesitation, I decided to register my own domain. The process was surprisingly simple:

1. I entered app.ens.domains with MetaMask connected
2. I searched for the name I wanted (thank goodness it was available)
3. I chose to register it for two years
4. I confirmed the transaction and waited for a minute
5. I completed the registration with another transaction

And voilà! I already had my own .eth domain. The problem is that Ethereum gas fees can sometimes be ridiculous, so I chose a time with few transactions on the network.

The future of Web3 domains: Revolution or passing fad?

I am convinced that Web3 domains will radically change how we interact with cryptocurrencies. Imagine a future where no one uses long addresses, but only simple names. Usability would improve significantly.

But to be honest, I also have my doubts. Most people still don't understand what a blockchain is, so convincing them to buy a Web3 domain seems complicated. And let's not forget that these projects often promise a lot but deliver little.

Will ENS be the DNS of the future or will it end up being a passing trend? I don't have the answer, but I have placed my bet by purchasing my own domain just in case. What is clear is that Web3 needs to be more accessible, and these domains are a good first step.

Decentralized domains promise freedom from corporate control, but sometimes I wonder if they will really achieve the mass adoption they need to succeed. Time will tell!