On 1st of April 2023, Ethereum Name Service (ENS) deployed Name Wrapper feature on its mainnet. The ENS Name Wrapper functionality is seen as a key improvement for ENS's large-scale adoption and possibly revolutionizing Web 3. Before we talk about the details of this launch, what exactly is ENS Name Wrapper, and why is it so important?
Before Name Wrapper was launched, ENS subdomains are not created as a separate NFT, so transferring and trading them are not possible. Name Wrapper allows any existing ENS domain name of any level (e.g. domain.eth, sub.domain.eth, etc.) to be wrapped as an ERC-1155 token. Users can have more flexibility because the wrapped domain names are held as individual NFTs and its parent domain owner can still have control like granting and revoking permissions.
The most widely used NFT contract on the Ethereum blockchain for now is ERC-721. Its function is limited for non-fungible tokens only and does not support fungible tokens. In contrast, ERC-1155 supports both fungible and non-fungible tokens. It is a much better alternative because tokens can be authorized and transferred batches, which is very convenient and efficient for its users to control and manage its subdomains.
Let's take a look at the technical terms that are used to explain the flow of Name Wrapper. Hang on tight because things will get pretty nerdy:
- It should be noted that all ENS domain names are subdomains of the top-level domain .eth, and subdomains are further divided into 2nd-level domains (such as elon.eth), 3rd-level domains (tesla.elon.eth), etc.
- For example, elon.eth is a subdomain of eth, and tesla.elon.eth is also a subdomain of elon.eth. Therefore, in most cases, ENS subdomains are considered to be 3rd-level and above domains.
- Registry: The core contract that lies at the heart of ENS resolution. It maintains a list of domains, recording the owner, resolver, and TTL for each, and allows the owner of a domain to make changes to that data. All ENS lookups start by querying the registry.
- Registrant: The original owner of main domain domain.eth. Has the ability to set the controller address and transfer it to someone else.
- Controller: The new owner that was assigned by the Registrant. Has the authority to control most activities on the subdomain address except changing its ownership.
- Resolver: Manages, stores, and processes all the records for the domain name owner.
- Expiration Date: The period which the registration expires and the domain needs to be renewed.
- Time-To-Live (TTL): Custom setting that specifies the duration to cache records.
- Wrapped NFT: ERC-1155 NFT that was issued to the owner (could be current or new owner) after Name Wrapper recorded the ownership of the subdomain address in the Registry. E.g., the original owner (Registrant) creates a subdomain address sub.abc.eth and transfers it to new owner (let's say his name is X). Hence, now X owns sub.abc.eth .
- Unwrapping: After subdomain address is unwrapped, it burns the ERC-1155 NFT and returns the ownership back to the Registrant (domain owner). The Name Wrapper contract does not have ownership over the name. E.g., X unwrapped the subdomain address sub.abc.eth and returns back to the original owner.
- Emancipated: When A Registrant wants to transfer the subdomain address to another user, they will need to release the subdomain name. This will cut off all control from the Registrant.
- Locked: The subdomain address is locked to the new user and they have full access to control the subdomain address until it is expired.
Why is ENS Name Wrapping so important?
There are several usage of name wrapping in real life scenarios:
- Buy and sell subdomains to other users.
- Issue subdomains with limited ownership.
- Use subdomains as Proof of Authenticity.
- Issue transferable or non-transferable subdomains as attendance tokens, personal identifiers, and tickets.
- Allows specified NFT holders to mint subdomain NFTs.
What do you think of ENS's latest feature? Will you be eager to try out Name Wrapper on your subdomain addresses? Let us know your thoughts in the comment section.
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