With Fiat, Web3 users can now easily purchase ENS domains
Central issues:
- MoonPay and Ethereum Name Service are working together to create fiat on-ramps for customers who are interested in purchasing.eth domains.
- MoonPay will function as a payment service for users thanks to the partnership.
The Ethereum Name Service (ENS) will enable customers to purchase.eth domains using fiat cash through MoonPay, removing the technical barriers associated with creating a crypto wallet and paying with ether.
As a result of the partnership, MoonPay will be available for use as a payment service. Clients will actually want to purchase and register.eth spaces without first buying ETH.
Setting up a crypto wallet can be difficult for people who don’t know how to use computers. However, using a fiat money on-ramp removes these obstacles.
The ENS stage update is additionally planned to widen its appropriateness past the center use instance of delivering intelligible names for wallets to supplant mathematical addresses commonly provided by wallet specialist organizations, stages, and blockchain conventions.
Nick Johnson, the principal developer and creator of ENS, stated:
“By making it as user-friendly as possible, our collaboration will not only increase mainstream acceptance of decentralized financial applications, but also Web3 in general.”
The Ethereum Name Administration is a space name framework that works on the Ethereum blockchain. It makes it simpler to send and receive cryptocurrency to abbreviated addresses by providing customers with a name that is easily accessible rather than the lengthy or difficult alphanumeric address that is associated with a crypto wallet.
The service is similar to the Web2 version of the Domain Name System (DNS), which replaces websites’ IP addresses with internet name addresses.
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According to Johnson, the ENS website will allow users to pay for a name using MoonPay.
In 2022, ENS gained popularity, making it easier to send and receive cryptocurrencies. It takes the guesswork out of entering a cryptocurrency wallet’s complicated alphanumeric address. In July 2022, Unstoppable Domains also partnered with MoonPay, making ENS payments similarly simple.
