The rise of Web3 functionality has been a boon for decentralized domain name services over the past two years, with millions of blockchain-based domains registered to date. Challenging market conditions may have hampered exponential growth, but industry leaders believe that utility-driven adoption will continue in the future.

Web3 is fundamentally changing how businesses, brands and retailers serve customers, who are taking full control of their data, wallets and online identity courtesy of blockchain ecosystems like Ethereum.

Decentralized domain names are proving to be valuable tools for users and businesses to integrate with Web3 functionality. From providing human-readable names that replace numerical wallet addresses to serving as a decentralized profile across the Web3 ecosystem, decentralized domains offer an alternative to conventional domain services.

(By GARETH JENKINSON)