Earlier this month, Ethereum Name Service, or ENS, formed a decentralized autonomous organization, or DAO, for the ENS community.
Cointelegraph spoke with two ENS DAO delegates who requested the opportunity to represent the community and remain involved in the decision-making process: Victor Zhang, CEO of AlphaWallet, an open source Ethereum wallet, and Gregory Rocco, co-founder of Spruce, a decentralized Identification and Data Toolkit for developers.
Zhang spoke about his experience as an ENS external contributor and one of the first sponsors since 2018. Initially, Zhang sought to help ENS by offering Alpha Wallet as an easy-to-use tool for solving .eth names and addresses of cryptocurrency wallets. Essentially, if a user enters an .eth name in AlphaWallet, it will display the wallet address and vice versa using reverse resolution. AlphaWallet also supports ENS avatars.
Zhang, also known as @ Victor928, is in the top 30 delegates with the most voting power. When asked how he plans to continue contributing to the DAO, Zhang said:
My biggest concern today is voting power. The second largest voting power is Coinbase, a large corporation. We need to make sure that the ENS is always a public group, always a neutral service, that is not influenced or controlled by any party in its own interest โ.
Related: ENS COO says DAO-based governance 'has always been the plan'
During the ENS Token airdrop, 100 million total ENS tokens distributed. While 25% went to users with .eth domains, another 25% of the tokens were assigned to those who "contributed significantly to ENS over the past four years." The other 50% remains in the treasury of the DAO community.
As an external contributor, Zhang He received 46,296.3 tokens. At press time, this amount of tokens amounted to $ 3,320,311.15. Zhang is among 27 contributors who received this exact amount.
Zhang confirmed that he is, โholding it all. I will not collect any tokens. As long as ENS continues to grow in the right direction, I don't see any competitors. That means the value is much higher than the current market capitalization, if we look at it as an investment. "
On the day of the airdrop, Brantly Millegan, aka "Brantly.eth," ENS COO, tweeted on the "responsibility" given to users, adding that it is up to the ENS community to use decentralized identity "wisely."
no free money sent to you from the air, the responsibility was sent to you
- brantly.eth (@BrantlyMillegan) November 9, 2021
Spruce's Gregory Rocco discussed this concept of decentralized identity with Cointelegraph. He developed Spruce, a secure login with Ethereum, or SIWE software, precisely to help users own and control their digital identities, rather than handing over that data to large corporations.
Refers to large centralized corporations such as Google, Twitter, or Facebook that offer web2 users the option to log into third-party applications and services using their respective Gmail or Facebook details rather than having to create and remember usernames. and individual passwords for each new one. bill.
According to Rocco, these traditional logins have "maximum control" over user ids because "if Google threw the rug on you, not only would you lose access to Google services, but you would also lose access to all services in those who logged in using Gmail ".
The Ethereum Foundation and ENS recognized this problem and Announced a request for proposal for creating a login package with Ethereum using Oauth. Spruce was selected to offer a decentralized identity alternative in September.
The goal of SIWE is to allow users to control their public identifier by possessing their private keys or as Rocco said: "'their keys, their cryptography' but also 'their keys, their identifier'". Blockchain-based identity, it also allows for verifiable proof of identity, asset ownership, and DAO membership. This is important for a user to demonstrate their value to the ENS ecosystem and earn rights for upcoming airdrops.
When asked how it feels to be a delegate, Rocco said:
โI feel this motivation to be on top of everything for ENS and to be on board and establish that social contract. I believe in the future of ENS and I support participation in user-controlled systems. That paradigm is the first step in allowing users to have more control over their identity and their data. "
Ultimately, decentralization of identity empowers ENS DAO and increases its credibility as a truly decentralized organization. Both Zhang and Rocco are champions of common property and hope to further promote the use of ENS in the web3 ecosystem.
Post navigation
