ENS move from PayPal, which started the 2021 bull: Millions will be able to pay

Two major US payment companies PayPal and its subsidiary Venmo have added Ethereum Name Service (ENS) support to their systems. Now millions of users will be able to send cryptocurrencies to each other through ENS names.

In November 2020, PayPal, which opened its cryptocurrency services to its US customers and had a major share in the start of the bull season of the period, and its subsidiary Venmo, announced their support for ENS.

According to the statement made by ENS Labs, the company behind the Ethereum Name Service (ENS), US PayPal and Venmo users will now be able to send them cryptocurrencies by typing the recipient's ENS name. The system will automatically recognize the ENS name.

The introduction of such features will also significantly reduce the errors made in crypto submissions. In general, in such transfers, either long addresses have to be written or a QR code must be scanned manually.

Fraudsters even occasionally include some worthless cryptocurrencies in their transaction history by sending them to their user wallets. The wallet owner, on the other hand, sends money to the fraudster who made that worthless transfer to him when he sends over the last transactions without looking at the entire address. Here are the short and simple solutions in ENS style, preventing big mistakes.

Khori Whittaker, CEO of ENS Labs, said in a statement, "With such improvements, we want to ensure that cryptocurrencies are mainstream and can be transferred more comfortably."

ENS Labs also signed an agreement with domain name acquisition company GoDaddy in February, allowing ENS addresses to be integrated with “.com” style web addresses.