Which is easier to remember, 0xDC25EF3F5B8A186998338A2ADA83795FBA2D697E or avax.avax?
Obviously, the latter is easier which is why Avvy was created; to help crypto users remember long crypto addresses by converting them into easy-to-remember names, similar to URLs in traditional websites.
Avvy is the successor to Ethereum Name Service (ENS). To get caught up, ENS is a distributed technology based on the Ethereum blockchain that allows long crypto addresses to be represented by a simple name similar to an email or website address.
ENS builds off the same concept as Domain Name Service (DNS), which created easy-to-remember website addresses and mapped them to their longer and more difficult-to-remember Internet Protocol (IP) addresses.
So, what can users do with Avvy and its naming service?
The Avalanche blockchain is particularly suited for a naming service because of its subnets which are essentially separate but interoperable blockchains. Avvy was created because in the future it’s likely that there will be thousands of subnets and having a way to easily find a particular protocol on a particular subnet will be necessary and valuable.
Registering A Domain
One of the simplest use cases is for users to register a domain using the Avvy site because all .avax names are ERC-721 NFTs. This means when a user registers avaxgamer.avax, that user owns that domain name, and can sell it on a site such as JoePegs. It’s important to remember that Avvy names have expiration dates and must be renewed to keep ownership of the domain. If your domain name happens to lapse, it can be sold at auction.
Registration fees are as follows:
- 5+ characters: $5 USD / year
- 4 characters: $160 USD / year
- 3 characters: $640 USD / year
Resolution is the primary use case for all Avvy names, consisting of forward and reverse resolution.
Forward resolution is where you can use your Avvy name to have someone send you crypto, instead of having to know your super-long crypto address. For more information on how to enable forward resolution, click here.
Reverse resolution happens when you know someone’s wallet address and you can use it to look up their .avax name. When reverse resolution is enabled, it allows certain protocols to pull up additional information from a wallet address, such as an avatar used in a P2E game.
Several protocols are already using the Avvy naming service as a core part of their protocol.
- Smolmints, an NFT launchpad built to support an ever-growing network of artists, shows the Avvy name any time a user connects to their site. This helps to ensure anyone wanting to mint an NFT is using the correct wallet.
- Raffllrr is an NFT raffling service where users post their NFTs to be raffled off. Raffllrr displays Avvy names in several places on their site, creating a social aspect to the raffle process.
Avvy is a brand new addition to the Avalanche ecosystem. It follows in the footsteps of the Ethereum Naming Service. Every day you can see ENS names being sold on the secondary marketplace. While Avvy might not be as visible or well-known as ENS, it’s likely only a matter of time before the service catches the eye of more users, investors, and protocols. Besides that, some of the names on JoePegs are absolutely hilarious and worth taking a look at. It’s a bit of a gamble, but if you happen to own a desirable Avvy name, it could be worth some coin in the future.
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