What Is Name Wrapper In Crypto ?
In the world of crypto, the Name Wrapper refers to a specific smart contract within the Ethereum Name Service (ENS) ecosystem. It essentially unlocks new functionalities and customization options for your ENS domain names.
Here’s a breakdown of what it does:
1. Turns Subdomains into NFTs: Traditionally, subdomains within ENS (like “sub.yourdomain.eth”) weren’t treated as independent Non-Fungible Tokens (NFTs). This limited their transferability, renting potential, and overall usefulness.
The Name Wrapper changes this by wrapping your subdomains into individual ERC-1155 NFTs, making them freely tradable and usable like any other NFT.
2. Enhances Security and Trust: Unlike the previous system where the main ENS domain owner could revoke subdomains at will, the Name Wrapper ensures greater security and trust.
Once a subdomain is wrapped as an NFT and certain fuses are burned, the original ENS domain owner loses the ability to modify it, protecting the subdomain owner’s rights and investments.
The Name Wrapper opens up exciting possibilities for ENS users:
Subdomain marketplaces: Buy, sell, and trade subdomains as independent NFTs.
Decentralized applications (dApps): Build dApps directly on top of subdomains.
Community ownership: Share ownership and control of subdomains with others.
Enhanced security and trust: Protect your subdomains from unauthorized modifications.
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