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ENS is interesting. Definitely a convenience feature built atop Ethereum. Remembering those wallet addresses/having to recall them whenever it’s necessary is im

• sanderjd 5y ago
  But even this is circular. ENS is useful if Ethereum is useful. I am interested in this space, but I do share this criticism that so many of the things touted as evidence of it being useful are fundamentally circular. Take the first three things from the parent comment: Aave, Compound, Yearn. None of these make sense if there is no value in the cryptocurrencies they allow you to lend, borrow, and invest. But then they can't themselves be evidence that there is value. It's circular. Same thing with Gnosis Safe; it's only useful to have a multisig controlling crypto assets if those assets have value. I think the current thought is that NFTs are what does / will bring inherent value or value connected to the rest of the world in some way onto the blockchain, and then everything else derives its value from there. This seems like a tenuous and somewhat shaky foundation to build so much hype atop, but it's at least a theory of the case that makes more sense to me than the circular "ethereum is valuable because of Uniswap and Aave".
  • jallen_dot_dev 5y ago
    ENS can be useful outside of Ethereum. I can sign a message and you can look up who it's from via ENS. I can also use it as the domain name for a site hosted on IPFS. It's a way of tying names to public keys in a decentralized way. It doesn't have to be used only for identifying Ethereum wallets.
    • sanderjd 5y ago
      Good point.