Ethereum Name Service to Work With MoonPay to Build Fiat On-Ramp
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
:format(jpg)/www.coindesk.com/resizer/Kjea5zGf89qzyacI8fZ49yhnaks=/arc-photo-coindesk/arc2-prod/public/S7SPGELTNBFITA3UBCS2CMRBQM.png)
Margaux Nijkerk reports on blockchain protocols with a focus on the Ethereum ecosystem. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a very small amount of ETH and other altcoins.
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
The Ethereum Name Service (ENS), a digital identity protocol, said Thursday it is working with MoonPay, a Web3 payments firm, to create a fiat on-ramp for users interested in purchasing an .eth domain name.
Through this arrangement users can use MoonPay as a payment service to directly buy and register their .eth domain instead of having to first buy ether (ETH) and set up a crypto wallet. Setting up a crypto wallet can be complicated to those that are not tech savvy, but using a fiat currency on-ramp overcomes such hurdles.
ENS is a domain name protocol that runs on the Ethereum blockchain. It provides users with an easily readable name such as “xyz.eth” instead of the long or complex alphanumeric address that is tied to a crypto wallet, making it easier for users to send and receive crypto to those shortened addresses. The service is similar to the Web2 version of the Domain Name System (DNS), which creates internet name addresses such as “google.com” for websites to substitute for their numeric internet protocol (IP) addresses.
“The goal of the integration is to offer a solution that eliminates this barrier by allowing users to use payment options that they are used to such as Apple Pay and Google Pay,” said Nick Johnson, the founder and lead developer at ENS. “By making it as user friendly as possible, this partnership will not only boost mainstream adoption of decentralized financial apps but also Web3 as a whole.”
DISCLOSURE
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
has been updated
.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a
strict set of editorial policies.
CoinDesk is an independent operating subsidiary of
Digital Currency Group,
which invests in
cryptocurrencies
and blockchain
startups.
As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of
stock appreciation rights,
which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG
.
Margaux Nijkerk reports on blockchain protocols with a focus on the Ethereum ecosystem. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a very small amount of ETH and other altcoins.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.
Margaux Nijkerk reports on blockchain protocols with a focus on the Ethereum ecosystem. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a very small amount of ETH and other altcoins.
