Decentralized Domain Names Overview
Decentralized domain names, also known as Web3 domains, are a new naming system built on blockchain technology, aiming to revolutionize the operation of the traditional internet Domain Name System (DNS). Their core advantages lie in decentralization, censorship resistance, and full user ownership. They typically exist as Non-Fungible Tokens (NFTs), allowing users to permanently own domains rather than leasing them as in the traditional model. These domains not only simplify lengthy cryptocurrency addresses, making them easier to remember and use, but can also be used to build censorship-resistant decentralized websites and serve as users' digital identities in the Web3 world.
Key Decentralized Domain Name Projects
Ethereum Name Service (ENS)
Ethereum Name Service (ENS) is an open-source decentralized naming protocol built on the Ethereum blockchain. It converts complex blockchain addresses into human-readable names, such as "alice.eth," through smart contracts. ENS plays a crucial role in the Web3 ecosystem, supporting decentralized applications, websites, and user identities. ENS domains are 100% owned by users, featuring no intermediaries, censorship resistance, and irreversibility. Its governance and development processes are open and transparent, with ENS token holders able to participate in decisions regarding the use of treasury grants through voting, jointly shaping the project's future.
- Token Information (as of October 3, 2026):
- ENS is the project's native governance token.
- Real-time price is approximately $7.06.
- 24-hour trading volume is approximately $17.78 million.
- Market capitalization is approximately $303.59 million.
- Circulating supply is approximately 42.27 million ENS, with a maximum supply of 100 million ENS.
- All-time high price reached $83.40.
Unstoppable Domains
Unstoppable Domains provides blockchain-based domain services where users own these domains as NFTs, holding them permanently without renewal fees. These domains are designed to replace complex cryptocurrency addresses, simplify digital asset payment processes, and support the construction of censorship-resistant decentralized websites. The platform supports various domain suffixes, including .crypto, .coin, .wallet, .bitcoin, .x, .888, .nft, and .dao, primarily operating on the Ethereum and Polygon blockchains. As of March 2022, over 2 million domains have been registered on the Unstoppable platform. The project received $4 million in investment led by Draper Associates, with support from Boost VC, Coinbase Ventures, and Protocol Labs, and was also funded by the Ethereum Foundation. In December 2021, Unstoppable Domains launched a promotional service allowing users to mint and manage domains for free on the Polygon chain.
- Project Overview:
- Company founded in 2018.
- Market valuation is approximately $419.15 million.
- Purchasing an Unstoppable domain typically costs between $5 and $20.
Handshake (HNS)
Handshake is a UTXO (Unspent Transaction Output) blockchain protocol designed to create a decentralized, permissionless naming protocol to replace existing Certificate Authorities (CAs) and centralized naming systems. Its core goal is to replace the Internet Corporation for Assigned Names and Numbers (ICANN) as the central managing authority for Top-Level Domains (TLDs) through an open auction system run by a network of computers. Handshake's verification mechanism is shifted to the blockchain, providing a new way to manage network resources. The project was developed by seasoned cryptocurrency technical experts such as Joseph Poon (co-creator of Bitcoin's Lightning Network) and Christopher 'J.J.' Jeffrey. The Handshake team has attracted $10.2 million in investment from prominent venture capital firms including Andreessen Horowitz, Draper Associates, and Peter Thiel's Founders Fund.
- Token Information (as of October 3, 2026):
- Real-time price is approximately $0.012.
- 24-hour trading volume is approximately $1,868.03, indicating relatively low trading activity.
- Market capitalization is approximately $8.1299 million.
- Circulating supply is approximately 677.73 million HNS.
- The total supply cap for HNS is 2.04 billion.
- Over the past year, Handshake's value has increased by 178.46%.
Bonfida (FIDA)
Bonfida is a decentralized application based on the Solana blockchain, offering a suite of products including a decentralized exchange, domain services, and analytics tools. The FIDA token is central to the Bonfida ecosystem, used for governance, staking, and accessing advanced platform features. Bonfida is considered a graphical user interface connecting Serum, the Solana blockchain, and users, providing essential infrastructure for the Solana ecosystem.
- Token Information (as of October 3, 2026):
- Real-time price is approximately $0.02117.
- 24-hour trading volume is approximately $5.57 million.
- Market capitalization is approximately $59.61 million.
- Circulating supply is approximately 990.91 million FIDA, with a maximum supply of 1 billion FIDA.
- All-time high price reached $9.95 (November 5, 2021).
Core Advantages and Operating Principles of Decentralized Domain Names
Web3 domains, as an emerging digital infrastructure, offer core value in the following aspects:
- User Ownership: Users permanently own domains as NFTs, rather than leasing them as in the traditional model, ensuring full control over their assets.
- Censorship Resistance: Because they do not rely on centralized registrars, decentralized domains are difficult to censor, shut down, or confiscate, enhancing the resilience of digital sovereignty.
- Simplified Crypto Payments: Replacing complex cryptocurrency addresses with easy-to-remember domain names greatly enhances the convenience and user experience of crypto asset transfers.
- Decentralized Websites: These domains can be used to host or link to decentralized websites, providing a foundation for building censorship-resistant Web3 applications.
- Web3 Identity: Decentralized domains can serve as a unified digital identity for users in the Web3 world, simplifying cross-platform interactions.
Their operating principle involves mapping human-readable names (such as "example.eth") to machine-readable identifiers, such as Ethereum addresses, other cryptocurrency addresses, content hashes, or metadata, thereby achieving name resolution in a decentralized environment.
