Ethereum Title Service (ENS) lead developer Nick Johnson mentioned the protocol must make some adjustments earlier than implementing Vitalik Buterin’s new payment construction.
The primary level raised considerations concerning the varieties of names and the way a lot distinction this might make to the payment construction. Johnson highlighted that names may very well be human names, model names, and generic phrases.
In response to him, most proposals to make use of market-based pricing deal with generic phrases, however that is unlikely to use to different names like human names and model names.
For instance, whereas it’s helpful {that a} generic time period finally ends up with somebody who would put it to good use, this may occasionally not work for human names and model names.
He argued that manufacturers shouldn’t wrestle to carry a reputation that received its recognition as a result of their efforts.
Johnson continued that there are additionally externalities to think about within the naming system, which could make it unattractive for an individual holding a reputation to pay extra. In the event that they lose the identify, the customers will bear a lot of the prices.
Harberger registrars
The ENS developer additionally mentioned an thought he termed Harberger Registrars, which might permit ENS to situation 1- and 2- character names underneath a unique algorithm.
With this method, the character names can be paid for primarily based on the Harberger Tax Scheme.
Whereas the unique proprietor pays lease primarily based on the worth connected to the identify, those that purchase subdomains on the names will nonetheless retain their possession even when the mother or father area is transferred.
Subdomains
One other ENS developer Jeff Lau conceded that the domains might have been too low cost contemplating how shortly the three letter names offered out.
In hindsight, this may occasionally have been *too* low cost given how shortly 3 letter names have offered out just lately. And one thing that permits dynamic pricing/renewals might launch a few of these names by pricing out those who aren’t utilizing the names however should pay excessive charges.
— jefflau.eth (@_jefflau) September 9, 2022
Lau continued that Buterin’s proposal centered extra on the problems of congestion and funding for the ENS DAO with out giving accessibility a lot thought.
She continued that subdomains may assist remedy “Vitalik’s prediction that there’ll now not be any significant .eth names left to register,” whereas additionally bringing extra accessibility.
I feel that subdomains would be the reply to this. If Vitalik’s prediction that there’ll now not be any significant .eth names left to register. I feel subdomains can take the place of .eth for accessible, usable names that may very well be both free or very low cost
— jefflau.eth (@_jefflau) September 9, 2022
Lau concluded that the “ENS pricing was all the time designed to be modified as a result of we *knew* that we in all probability wouldn’t get it proper the primary time and that issues may have to vary.”
Buterin argued that ENS domains are low cost.
Buterin had argued that ENS offered most domains at a low value, permitting squatters to get a lot of the prized names of the area.
OK wow, half of yall actually suppose that somebody ought to be capable of lock down each five-letter phrase within the Scrabble dictionary (which incorporates unique stuff like “ZORIL”) for 100 years for lower than the worth of 4 lambos. https://t.co/2AWSR0qkQh
— vitalik.eth (@VitalikButerin) September 5, 2022
He continued that a budget pricing didn’t make sufficient cash for the ENS DAO.
To unravel this, Buterin beneficial higher pricing preparations that tie the extent of market demand to the area charges and supply time-bound possession ensures.
