ENS is the gateway drug to Web3--
It's going to take over--
Here’s why 🧵👀
(Join me while I share a little of history, common sense, and search metrics 👇)
It's going to take over--
Here’s why 🧵👀
(Join me while I share a little of history, common sense, and search metrics 👇)
(2/40) I have a very strong belief that ENS Web3 domains (*Assets*) are going to take over .com domains long term.
In the following thread...
I’ll be exploring some of the problems Web1+2 domains solve vs the problems Web3 ENS Assets solve…
In the following thread...
I’ll be exploring some of the problems Web1+2 domains solve vs the problems Web3 ENS Assets solve…
(3/40) We’ll dive into some historical registration data for Web1+2 domains…
And we will look at some search volume metrics surrounding the 2003 "domain-name-craze" versus what I am calling the “ENS registration test-flight”
And we will look at some search volume metrics surrounding the 2003 "domain-name-craze" versus what I am calling the “ENS registration test-flight”
(4/40) (you might know some of the info at the beginning. Bear with me. I promise we will talk about some sexy numbers towards the end)
(5/40) In the early days, web addresses were just long numbers called IP addresses.
You might have come across these while troubleshooting your internet connection.
They look like this: 192.168.0.1
And they SUCK to have to remember.
You might have come across these while troubleshooting your internet connection.
They look like this: 192.168.0.1
And they SUCK to have to remember.
(6/40) Imagine wanting to open Twitter and having to type 104.244.42.6
No thanks
The internet would have never been adopted if it stayed like this.
IP addresses are not simple
And things that aren’t simple - don’t scale. (to the general public at least)
No thanks
The internet would have never been adopted if it stayed like this.
IP addresses are not simple
And things that aren’t simple - don’t scale. (to the general public at least)
(7/40) Do these confusing IP addresses remind you of something in the Web3 space?
Maybe blockchain addresses...
...ones like this? 👉 0x8f543762475E15FA2d3E51719cc8249A54a04803
Either way, keep reading...
Maybe blockchain addresses...
...ones like this? 👉 0x8f543762475E15FA2d3E51719cc8249A54a04803
Either way, keep reading...
(8/40) Thankfully, domain names were invented to make this process a LOT easier.
I won't go into the super technical, but domain names are basically the easy-to-read nicknames of their IP address counterpart:
I won't go into the super technical, but domain names are basically the easy-to-read nicknames of their IP address counterpart:
(9/40) Every web address you go to, is actually sending you to an IP address.
Twitter.com is actually 👉 104.244.42.6
But we never need to know that (because the devs did something👩💻🧑💻)
Twitter.com is actually 👉 104.244.42.6
But we never need to know that (because the devs did something👩💻🧑💻)
(10/40) That’s what (at the most basic level) ENS addresses do for your terribly long blockchain addresses
But that’s not all…👀
But that’s not all…👀
(11/40) Now that we’ve gotten the foundation set,
Let’s compare the problems Web2 domains solve verses the problems Web3 ENS Assets solve:
Let’s compare the problems Web2 domains solve verses the problems Web3 ENS Assets solve:
(12/40) How many problems does a Web2 domain name solve?
1. They take the place of IP addresses, making accessing web addresses simple.
2. They can be split into subdomains that can point to other web addresses, making those sites easy to access as well
That's *about* it
1. They take the place of IP addresses, making accessing web addresses simple.
2. They can be split into subdomains that can point to other web addresses, making those sites easy to access as well
That's *about* it
(13/40) What problems does an ENS *asset* solve?
It's going to take a few tweets to fit in...
It's going to take a few tweets to fit in...
(14/40) As of right now (there's more coming) an ENS domain asset can:
1. Replace your 42-character hexadecimal ethereum address with something simple to type and remember.
2. Act as a receiving address capable of receiving various blockchain-based assets (not just ethereum)
1. Replace your 42-character hexadecimal ethereum address with something simple to type and remember.
2. Act as a receiving address capable of receiving various blockchain-based assets (not just ethereum)
(15/40) An ENS domain asset can:
3. Host IPFS sites
4. Store your E-Mail, profile, bio, and other info (use this feature like a business card)
3. Host IPFS sites
4. Store your E-Mail, profile, bio, and other info (use this feature like a business card)
(16/40) An ENS domain asset can:
5. Have multiple subdomains that can point to both different wallet addresses or IPFS site addresses.
And that's not the end of it…
5. Have multiple subdomains that can point to both different wallet addresses or IPFS site addresses.
And that's not the end of it…
(17/40) The plan for ENS per @nicksdjohnson...
is for "ENS to be the naming system for every digital resource in the world."
is for "ENS to be the naming system for every digital resource in the world."
@nicksdjohnson (18/40) Say this out loud, see how it feels:
The plan is for ENS to be the naming system for EVERY. DIGITAL. RESOURCE. IN. THE. WORLD.
If you didn't just get goosebumps, say it again until you do.
Now- let's get into some numbers 🤘🏽😆🤘🏽
The plan is for ENS to be the naming system for EVERY. DIGITAL. RESOURCE. IN. THE. WORLD.
If you didn't just get goosebumps, say it again until you do.
Now- let's get into some numbers 🤘🏽😆🤘🏽
@nicksdjohnson (19/40) .com domains vs ENS assets, here's where we are going:
1️⃣ Historical registrations of Web1 and 2 domains
2️⃣ Web3/ENS registrations
3️⃣ Search volume statistics
Follow me down into data-land ⬇️
1️⃣ Historical registrations of Web1 and 2 domains
2️⃣ Web3/ENS registrations
3️⃣ Search volume statistics
Follow me down into data-land ⬇️
@nicksdjohnson (20/40) (By the way... after reading these numbers you are going to realize how early you are... you sexy sexy pioneer.) ⬇️
@nicksdjohnson (21/40) ℹ️ Definitions for the following tweets ℹ️
TLD = top level domain (the .com part of a domain is the top level)
gTLD = generic top level domain (.com, .org, .net or .edu.)
ccTDL = country code TLDs (.ca for Canada, .uk for the United Kingdom, etc)
TLD = top level domain (the .com part of a domain is the top level)
gTLD = generic top level domain (.com, .org, .net or .edu.)
ccTDL = country code TLDs (.ca for Canada, .uk for the United Kingdom, etc)
@nicksdjohnson (22/40) The following are total domain counts for all gTLDs and ccTLDs per year:
@nicksdjohnson (23/40) The first .com domain name was registered in 1985.
By January of 1993, there were about 21,000 registered g&ccTLDs
By January of 1995, there were more than 71,000 g&ccTLDs
Arguably, this data sample is before the mainstream acceptance of the internet as a whole.
By January of 1993, there were about 21,000 registered g&ccTLDs
By January of 1995, there were more than 71,000 g&ccTLDs
Arguably, this data sample is before the mainstream acceptance of the internet as a whole.
@nicksdjohnson (24/40) What we want to look at are the registration statistics that came AFTER the internet started catching on. (Around 1996/7.)
(For context, Google search launched in 1997. I see this as a major tipping point where the internets integration is concerned) Lets look at #'s
(For context, Google search launched in 1997. I see this as a major tipping point where the internets integration is concerned) Lets look at #'s
@nicksdjohnson (25/40) Some statistics about the internet in 1997:
- Roughly 20 % of the population was using the internet at this point
- gTLD & ccTLD registrations crossed 1 million
This was at least 3 years before the global domain name craze.
- Roughly 20 % of the population was using the internet at this point
- gTLD & ccTLD registrations crossed 1 million
This was at least 3 years before the global domain name craze.
@nicksdjohnson (26/40) ...You'll see why I believe '02-'03 was the mainstream tipping point for Web1 domains below...
and why I think we are INSANELY early to ENS and ETH...
and why I think we are INSANELY early to ENS and ETH...
@nicksdjohnson (27/40) Here’s a chart that shows the percentage of the population using the internet by year...
In 1997, only about 20% of the population was online.
That's when Web1 crossed 1million domain registrations. (ENS just hit that this week.)
In 1997, only about 20% of the population was online.
That's when Web1 crossed 1million domain registrations. (ENS just hit that this week.)
@nicksdjohnson (28/40) Let's look at some registration comparisons for Web1 domains and ENS domains:
The following chart shows how many total registrations existed for Ethereum wallets, ENS domains, and Web1 domains each day, after reaching 200,000 respective registrations.
The following chart shows how many total registrations existed for Ethereum wallets, ENS domains, and Web1 domains each day, after reaching 200,000 respective registrations.
@nicksdjohnson (29/40) You can see that it took Web1 domains roughly TWICE as long to reach the 1 million milestone. This is due in part to the onboarding process from Non-Web-User to Web1-User being a bigger leap than Web2-User to Web3-User.
(Thank you @008 for making this chart!)
(Thank you @008 for making this chart!)
@nicksdjohnson @008 (31/40) Now, you might think the ENS registration craze has already started…
If so
Buckle up
If so
Buckle up
@nicksdjohnson @008 (32/40) Sure ... we got a glimpse of aggressive expansion in the last 10 days with the advent of #The999 and #10kClub.
It was still NOTHING compared to the registration craze of Web1 domains in 2001-2003.
Look at these search metrics:
It was still NOTHING compared to the registration craze of Web1 domains in 2001-2003.
Look at these search metrics:
@nicksdjohnson @008 (33/40) This is the lifetime recorded search volume for "register domain"
It peaked in 2003 at 1.85 million monthly searches.
It peaked in 2003 at 1.85 million monthly searches.
@nicksdjohnson @008 (34/40) This is the lifetime recorded search volume for "ens domain"
It peaked this week, with 225,000 searches.
It peaked this week, with 225,000 searches.
@nicksdjohnson @008 (35/40)
Now to recap, here are our 3 points of reference:
1️⃣ The benefits of Web3 ENS assets far outweigh that of Web1+2 domains.
Now to recap, here are our 3 points of reference:
1️⃣ The benefits of Web3 ENS assets far outweigh that of Web1+2 domains.
@nicksdjohnson @008 (36/40)
2️⃣ The history of Web1’s integration into society was a slow due in part to the web being a new thing altogether.
2️⃣ The history of Web1’s integration into society was a slow due in part to the web being a new thing altogether.
@nicksdjohnson @008 (37/40)
3️⃣ The global search metrics for ENS barely broke the lower threshold of the comparative search metrics from the 2003 web domain craze.
3️⃣ The global search metrics for ENS barely broke the lower threshold of the comparative search metrics from the 2003 web domain craze.
@nicksdjohnson @008 (38/40)
I want to leave you with a final thought…
The domain name craze of 2003 took about 5-6 years after the general integration of Web1.
Given that Web3 is accelerating at a speed like never before,
We might see the equivalent craze for web 3 in half the time.
I want to leave you with a final thought…
The domain name craze of 2003 took about 5-6 years after the general integration of Web1.
Given that Web3 is accelerating at a speed like never before,
We might see the equivalent craze for web 3 in half the time.
@nicksdjohnson @008 (39/40)
To me … all of this indicates that we are at the VERY beginning of what could be one of the most extreme movements in the history of the internet.
What do you think?
To me … all of this indicates that we are at the VERY beginning of what could be one of the most extreme movements in the history of the internet.
What do you think?
@nicksdjohnson @008 (40/40)
Sources:
- Domain registration history source: zooknic.com/Domains/counts…
- Population using the internet graphic: ourworldindata.org
Sources:
- Domain registration history source: zooknic.com/Domains/counts…
- Population using the internet graphic: ourworldindata.org
@nicksdjohnson @008 That's a wrap!
I hope all of my #The999 and #10kCub fam enjoyed. We are the pioneers. Let's take this asset the far reaches of the globe.
Special thanks to @MrWhiplash_eth , @Mingyou_Cheo , and @LeoAlhalabi for proofing this thread for me before it went live!! #ENSdomain
I hope all of my #The999 and #10kCub fam enjoyed. We are the pioneers. Let's take this asset the far reaches of the globe.
Special thanks to @MrWhiplash_eth , @Mingyou_Cheo , and @LeoAlhalabi for proofing this thread for me before it went live!! #ENSdomain
https://twitter.com/4238145135/status/1523169524631146497
• • •
Missing some Tweet in this thread? You can try to
force a refresh
