Today I was talking to a friend about how lucky we are on Hive because, most of the things we get for free on Hive we pay for them on other blokchcians. Lets talk about domain names, and how Hive kinda did it first and not only is it done here first, its done for free. when we open a crypto wallet we are being given a crypto address, this crypto address comes gibberish and its hard to remember and a little mistake in the address like missing a character or number or even adding will lead to loss of your assets. But on Hive your name is your wallet addresses and blockchain identity.
Now Web 3.0 is trending and cool now, other projects are beginning to do what Hive has been doing for a long time now but it is done with a price. One of them is domain name, if you want to register an Hive account you need to choose a unique name, this name will serve as your wallet address to get sent tokens and coins, but guess what you get them for free and for life. But if you want to get a domain name on the ethereum blockchain, you will need to pay for it. It cost money and it has a duration. The ethereum domain name service is known as ENS, and your domain name will have to end with .ETH so when sending ETH or NFT through domain name you will send it as readthisplease.eth.
How much does it cost?
I will be using ENS to show you how much it cost and our privilege here on Hive, to get the ENS domain name you will have to go to the ENS site, and search for your name to know if its available. As you can see it will cost me $53.65 to get a readthisplease.eth domain for 5 year, after five years, I will lose the right to that domain name or I renew it for another five years and who knows how much it will cost in 5 years time, I dont know how much ETH will cost then. But on Hive its free and you dont need to renew it, once you get the name, you get the name for life. Hive and its privilege.