Coinbase, one of the most popular cryptocurrency sites in the world, has officially announced its partnership with Ethereum Naming Service (ENS) to create unique cb.id usernames. Coinbase hopes the new partnership will boost Web3 adoption among its users. In fact, ENS registrations have increased significantly since the initial announcement between the two companies in September.
Coinbase and ENS Group for cb.id usernames
The new partnership between Coinbase and ENS creates unique cb.id usernames. Importantly, these are free for everyone to ask. Additionally, to simplify the process, existing .eth addresses can easily link their names to the new Coinbase ID system.
Confirming the new partnership, @ensdomains tweeted: “ENS + Coinbase. In line with our mission to make Web3 more accessible, we’ve teamed up with @coinbase to create CB ID usernames and created a free Web3 username! Existing .eth addresses can be linked to existing names to seamlessly trade and build your web3 digital identity.
The benefit of owning a cb.id username is that users can now build a decentralized digital Web3 identity. The partnership between Coinbase and ENS makes Web3 more accessible to millions of Coinbase users.
The new partnership aims to address key issues in Web3 adoption.
One of the core problems in the global adoption of Web3 and cryptocurrency is 42-character addresses that contain random numbers and letters.
This is scary for beginners and causes problems if people write down the address during transactions. ENS and Coinbase want to solve that by offering a simpler personalized ID system.
ENS is very popular now and many argue that it is the future of block addresses. Last week, Shark Tank investor Matt Higgins brought in the ENS domain for $50,000.
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