Recently, the ENS-Ethereum Name Service created a Decentralized Autonomous Organization(DAO) that will govern the ENS community.
Two ENS delegates, Gregory Rocco and Victor Zhang, had thoughts about the ENS DAO’s creation. Gregory Rocco is the co-founder of a decentralized data ecosystem, Spruce, while Victor Zhang is the current CEO of Alpha Wallet.
Zhang has been a notable personality in the development of ENS by allowing its Alpha Wallet to be used in the resolving of .eth names. This means that when a .eth name is searched in Alpha Wallet, the crypto address linked to it is visible. On the other hand, when a wallet address is inputted into the Alpha Wallet, the .eth address linked to it is displayed. These ENS-friendly wallets allow users to create and display ENS avatars.
Zhang one of the high ranking delegates with large votes, with username @ Victor928, and added that:
“My biggest concern right now is voting power. The second-biggest voting power is Coinbase, a big company. We have to make sure that the ens are always a public group, always a neutral service, not influenced or controlled by a single party for its own benefit.”
During the distribution of the ENS tokens, the .eth domain users, contributors to ENS, and the DAO treasury got 25%, 25%, and 50% respectively. The total supply of the ENS tokens is pegged at 100 million.
Zhang, like other contributors, got 46,296.3 tokens during the distribution process. He stated that he doesn’t see any competition:
“I do not cash any tokens. As long as the ENS continues to grow in the right direction, I don’t see any competition. So this means that the value is much higher than the current market cap if we consider it as an investment.”
The ENS Director of Operations, Brantly Milegan during the distribution day made a tweet stating that the airdropped tokens conferred responsibility on the recipients:
“You weren’t dumped free money, you were dumped in blame. This is the fate of the world’s decentralized identity protocol we’re talking about. I believe in the ENS community to use it wisely.”
Spruce was created to offer a safe link to Ethereum, allowing people to control their identity, unlike in the case of Google. People tend to log into a new app or website using their Google accounts, meaning that a massive amount of user data was stored and controlled by Google. According to Gregory Rocco, he believes that giving control to these companies was not wise, and he stated that “if Google got your foot on it, you wouldn’t just lose access to Google services, you would also lose access to all services.” He perceives that Spruce and ENS could change that.
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