Ethereum Name Service (ENS) Developers Working on Price Regulation

Ethereum Merge As the update is approaching step by step, Ethereum Name Service (ENS) A pricing arrangement is also being worked on.

With the update in the ENS service, price diversification is expected to change. With the update, different pricing will be made for individuals, company names and general terms.

But ENS lead developer Nick Johnson isn’t happy with the pricing policy. Johnson believes that a number of adjustments to wages should be made.

Johnson thinks that a market-dependent free pricing mechanism can only focus on pass-through terms. According to the developer, free pricing for private company or human names may not be very healthy.

The ENS developer also discussed the opening status of domain names for 1 or 2 letter domains on social media.

Another developer, Jeff Lau, stated that three-letter domains will run out very quickly.

Realistically we couldn’t think of a way to have a self perpetuating pricing system without intervention and create a ungameable pricing system. So finally after much discussion we decided to keep prices accessible, but still charge more for shorter domains.

— jefflau.eth (@_jefflau) September 9, 2022

According to the new ENS update, the original domain owner will continue to pay for the value of the domain name. Subdomain owners, on the other hand, will not face a negative situation even if the ownership of the parent domain name changes.

inventor of Ethereum Vitalic Buterinehad asked his Twitter followers what the reasonable price was for ENS charges.

What is a fair price that someone should have to pay to register and unconditionally guarantee ownership of a 5-letter .eth domain for 100 years?

— vitalik.eth (@VitalikButerin) September 4, 2022

The majority of users favored pricing under $100.

Buterin does not think in the same way as the community. Buterin argued that this price was “too cheap” in his response to the survey.