One of the most well-known cryptocurrency websites in the world, Coinbase, has formally announced a partnership with the Ethereum Naming Service (ENS) to produce distinctive cb.id usernames. Coinbase thinks the new agreement would enhance Web3 adoption amongst its users. In fact, ENS registrations have increased dramatically since the two firms’ early announcement in September.
Coinbase and ENS Team Up for cb.id Usernames
Unique cb.id usernames will be produced by the new agreement between Coinbase and ENS. Importantly, anyone can claim these for free. Existing.eth addresses can also quickly link their current names to the new Coinbase ID system, further streamlining the process.
@ensdomains announced the new collaboration in a tweet that read, “ENS + Coinbase. We collaborated with @coinbase to develop CB id usernames, a web3 username that is free to claim and is in line with our vision to make web3 more accessible. being present. Eth addresses let you to seamlessly transact and develop your web3 digital identity by connecting existing names.
Therefore, having a cb.id username gives users the ability to create a decentralized digital Web3 identity. Millions of Coinbase users will have easier access to Web3 thanks to the agreement between Coinbase and ENS.
The New Partnership Aims to Solve Key Problems in Web3 Adoption
The 42-character addresses, which are made up of random digits and letters, are one of the main issues preventing the widespread adoption of Web3 and cryptocurrencies.
Beginners could find this scary, and typing the address incorrectly during a transaction could result in issues. In order to address this, ENS and Coinbase are providing a straightforward individualized identity mechanism.
Numerous people contend that ENS represents the future of blockchain addresses given its current level of popularity. Investor Matt Higgins from Shark Tank purchased an ENS domain last week for $50,000. Stay updated with the latest NFT news on NFTeller.