allows crypto users to assign human-readable names to cryptocurrency addresses, which are otherwise presented as long and complex strings of letters and numbers.
When first launched in 2017, the Ethereum Foundation held an auction in which users could bid their ETH to secure these unique domain names for themselves. This was to incentivize claimants not to immediately try selling their domains for exorbitant prices after claiming them, and instead demonstrate a commitment to the domain they had bought.
That ETH was locked within the original ENS smart contract and would remain that way until users either gave up their domains or the contract itself was updated.The latter occurred in July 2019, allowing users to reclaim their locked ETH without forfeiting their domain. Under the new system, users were only required to pay a small yearly fee to keep their names.
Yet after the upgrade, many of the old registrants had still not claimed their former funds. According to lead ENS developer, there are still over 100k domains for which deeds remain unclaimed, holding “tens of thousands of ETH.” “Basically, they bid on a bunch of names back in ~2016/2017, and when we switched to the new system in 2019, they never released the deeds to claim their locked funds back,” ENS lead developer Nick Johnson told The Block.
Source: Digital Coin News (digitalcoinnews.net)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Reluctant to retire, leaders raise a tough question: How old is too old?After a series of troubling moments this week, an uncomfortable question has become unavoidable, leaving voters, strategists and even politicians themselves wondering: Just how old is too old to se…
Source: mercnews - 🏆 88. / 68 Read more »
Reluctant to Retire, Leaders Raise a Tough Question: How Old Is Too Old?After a series of troubling moments this week, an uncomfortable question has become unavoidable, leaving voters, strategists and even politicians themselves wondering: Just how old is too old to serve in public office? For years, like so many children of aging parents across America, politicians and their advisers in Washington tried to skirt that difficult conversation, wrapping concerns about their octogenarian leaders in a cone of silence. The omertà was enabled by the traditions of a city th
Source: YahooNews - 🏆 380. / 59 Read more »
Whale reclaims $74M in ETH locked in the ENS auctionThe owner of the ENS domain “darkmarket.eth” then transferred $119 million in Ether to a different wallet after claiming the funds. Back in 2021, ENS founder and lead developer Nick Johnson tweeted a reminder for the owner of the darkmarket.eth domain to reclaim their ETH that was locked up in ENS deposits from its first two years.
Source: Cointelegraph - 🏆 562. / 51 Read more »
Crypto user reclaims $74 million from old Ethereum Name Service contractA crypto user and Ethereum Name Service holder reclaimed $74 million of ether from the old ENS registrar that was replaced four years ago.
Source: TheBlock__ - 🏆 464. / 53 Read more »
Mandy Moore Reveals 2-Year-Old Son Gus Has Gianotti-Crosti SyndromeOn Friday, Mandy Moore shared a series of posts on her Instagram Stories, in which she revealed her 2-year-old son Gus has been diagnosed with Gianotti-Crosti syndrome after he 'woke up with a crazy rash' last week.
Source: TMZ - 🏆 379. / 59 Read more »
PA man arrested for sending explicit videos to law enforcement posing as 15-year-old girlCRANBERRY TOWNSHIP (KDKA) - A Pittsburgh man is facing charges of sending explicit videos to law enforcement agents who were posing as a 15-year-old girl.Accord
Source: CBS21NEWS - 🏆 304. / 63 Read more »