With Aragon, we set out to create software that makes it easy to create and run decentralized organizations. However, meaningless ETH addresses made sending funds and completing transactions for operating a business unnecessarily complicated.
Fortunately, ENS (Ethereum Name Service) recently solved this issue by enabling the assignment of human-readable names to eth addresses. This was important for the entire Ethereum ecosystem (including Aragon— no longer do you have to send transactions to a series of numbers and letters.
So today, we're excited to announce that we won the bid for the name company.eth! In this post, we'll explain how Aragon organizations will use the name and the implications for Aragon Network user-adoption.
By locking a certain amount of ANT, organizations on the Aragon Network can register their company name as a sub-domain of company.eth. For example, the fictional character Gavin Belson from Silicon Valley could register Hooli as hooli.company.eth on the Aragon Network.
Unlike the ENS blind auction registration process, company domain name purchases will be determined on a first-in/first-out basis.
After registering a company name, Aragon Network organizations can run sub-registries (for example, nucleus.hooli.company.eth). This means that Aragon users can allocate funds to a specific project, or a subset of the organization.
As previously mentioned, the company.eth domain is important for the Aragon Network, and has a number of implications. To highlight a few:
- Improves Usability — By registering a company.eth domain, running Aragon organizations will become even more intuitive and user-friendly.
- Promotes Discovery — Company.eth domain names will organize the Aragon Network, helping users discover great Aragon organizations.
- Increases Network Utility — Organizations that are part of the Aragon Network will be able to cost-effectively register an Ethereum address.
Together, we believe all of these benefits will help drive the adoption of the Aragon Network — thus, increasing network effects.
This is an important step towards achieving our mission of making decentralized organizations widespread. In future posts, we'll provide more information about registering company.eth domains and the exact steps to do so.
Follow us on Medium for future updates and exciting announcements, and join our Slack channels to become a part of our great Aragon community!
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