- Vitalik asked if ENS domains should follow a recurring price plan on September 9.
- ENS developers responded to the proposal in disagreement.
- In related news, ETH is trading above $1,750 according to CoinMarketCap.
On September 9, the co-founder of Ethereum (ETH), Vitalik Buterin, published a post via his Ethereum Name Services (ENS) website questioning if the domains should follow a recurring price plan. This has led to some disagreement between Buterin and ENS developers.
According to the Ethereum co-founder, ENS domains are fairly cheap since the cost to maintain a five-word domain costs around $5 at most. Being so cheap, Vitalik believes that an increased price structure could offer a solution. Furthermore, he brought up the possibility of using the generated revenue to fund the ENS Decentralized Autonomous Organization.
However, ENS developers disagreed with the ETH founder’s proposal with Nick Johnson being the first one to point out some flaws in the proposal.
Although the ENS developer noted that Vitalik’s piece was thoughtful, he argued that there were design constraints and included the externalities of naming the system in his argument. In addition, Johnson stated that paying more for a domain name may lead to people not wanting to use the service.
Johnson was not the only one that was opposed to Vitalik’s idea, as Jeff Lau, another ENS developer shared her opinion on Twitter. She argued that Vitalik was too focused on funding rather than user accessibility in his proposal.
In related news, the crypto market tracking website CoinMarketCap shows that the price of ETH is trading at $1,750.26 after a 0.9 percent 24 hour increase. This has added to ETH’s weekly gain as well with the coin’s price up almost 13 percent over the last 7 days.