Ethereum

Manifold Finance

when

Ethereum Name Service

Domain

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ens-and-manifold-finance-reach-300k-settlement-over-eth-link-domain" rel="noopener noreferrer nofollow">ENS and Manifold Finance Reach $300K Settlement over Eth.link Domain</a><br></p>
<p style="text-align: justify">The <a href="https://en.bitcoinhaber.net/bitcoin-and-ethereum-market-update-and-price-predictions" rel="noopener noreferrer nofollow">Ethereum</a> Name Service (ENS), a blockchain domain provider, is concluding its legal tussle with Manifold Finance by agreeing to a $300,000 settlement for the eth.link domain. The ENS’s decentralized autonomous organization (DAO) voted overwhelmingly in favor of the agreement, which also includes provisions for confidentiality and non-disparagement. Additionally, the ENS DAO sanctioned $750,000 to cover ENS Labs’ legal costs accumulated over the 18-month legal battle.</p>
<h2 id="dao-approves-settlement-and-legal-reimbursements">DAO Approves Settlement and Legal Reimbursements</h2>
<p style="text-align: justify">The ENS, which offers blockchain-based domain services, has been embroiled in a dispute after the eth.link domain expired and was subsequently auctioned off. ENS Labs initiated legal action to maintain control over the domain, which is crucial for the operation of .eth domain names on the blockchain, as it serves as a bridge to the traditional DNS internet structure.</p>
<h2 id="background-of-the-eth-link-domain-controversy">Background of the Eth.link Domain Controversy</h2>
<p style="text-align: justify">The domain issue arose when Virgil Griffith, a key ENS participant, did not renew the domain which later fell into the hands of Manifold Finance through an auction. ENS took legal steps against Manifold and the registrars involved, GoDaddy and Dynadot, leading to a court order that prevented the transfer of the domain. After prolonged litigation, the domain was unlocked in July 2023, allowing ENS to reclaim it. ENS has since worked with GoDaddy to provide .eth domain owners the option to link their blockchain domains with traditional web domains at no cost.</p>
<p style="text-align: justify">This development marks a significant resolution for ENS, ensuring the continuity of the eth.link service for their blockchain domain system, which enables users to convert .eth addresses into IP addresses recognizable by conventional browsers.</p>
<p style="text-align: justify">The settlement heralds a positive outcome for ENS and its users, who rely on the eth.link domain to navigate the web with blockchain-based domain names seamlessly.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ens-and-manifold-finance-reach-300k-settlement-over-eth-link-domain" rel="noopener noreferrer nofollow">ENS and Manifold Finance Reach $300K Settlement over Eth.link Domain</a></h5>

ENS and Manifold Finance Reach $300K Settlement over Eth.link Domain

Table of Contents

BH NEWS

Other articles published on Feb 27, 2024

Filecoin Price Prediction; Will FIL Reach the level OF $10?

Why Ripple (XRP) & Solana (SOL) investors continue to buy stage 1 DeeStream (DST) presale as 30x ...

Current BTC Surge Could Bring on $100,000 'God Candle': Max Keiser

Dogecoin (DOGE) Scores New Listing on Major Japanese Crypto Exchange

VeChain's Bullish Momentum Gains Traction Bolstered by Technical Analysis

Huge demand continues for DeeStream (DST) presale as Ethereum (ETH) $3,000 mark holds

Join our free newsletter for daily crypto updates!