TEMPE, Ariz. – GoDaddy Inc. (NYSE: NYSE:), a prominent domain registration and web hosting company, has launched a name service ( We announced a partnership with ENS. . This collaboration aims to bridge traditional Domain Name System (DNS) and innovative blockchain technology to improve the user experience for domain owners.
DNS, the system that translates human-readable website names into IP addresses, is integrated with ENS, which translates complex Ethereum wallet addresses into simpler, more readable names. This move combines GoDaddy’s security and reliability with ENS’ advanced blockchain infrastructure.
Paul Nicks, President of Domains at GoDaddy, expressed his excitement about the partnership, saying:With many years of managing the domain industry, we are always looking for innovative enhancements that benefit our customers. ” The collaboration with ENS is expected to provide domain name users with the opportunity to delve into the realm of blockchain without the need for technical know-how or additional costs.
ENS has introduced a new smart contract that facilitates the domain name resolution process at the DNS top-level domain (TLD) level, enabling a cost-free method of validating DNS records. This development aims to reduce barriers that have previously made migration to ENS difficult, such as the high gas fees associated with blockchain transactions.
ENS founder Nick Johnson emphasized the importance of this integration in our mission to build a more secure, decentralized and user-friendly Internet. ”ENS, like DNS, is a public good and a core part of the Internet infrastructure. “Combining the ENS name with his GoDaddy domain streamlines the way users interact with her web domain, blending the familiarity of DNS with the potential of blockchain technology,” he said.
This effort reflects GoDaddy’s continued commitment to supporting entrepreneurs in managing their online presence and ENS’ goal of establishing a neutral naming protocol for the Internet. This partnership is expected to streamline interactions with web domains and expand the possibilities of blockchain technology for users.
The information in this article is based on the press release.
Investment Pro Insights
Given GoDaddy Inc. (NYSE: GDDY)’s recent collaboration with Ethereum Name Services, investors should consider the company’s financial health and market performance relevant in evaluating the potential impact of such a strategic partnership. You might think you are doing it. GoDaddy’s market capitalization is a solid $15.28 billion, reflecting the company’s large presence in the domain registration and web hosting industry. However, the company’s price-to-earnings ratio (PER) is high at 46 times, indicating that it is valued at a high value compared to its current earnings. This is further highlighted by its trailing-twelve-month adjusted P/E ratio of 38.21 as of Q3 2023. On the other hand, the company’s revenue growth has been modest, with him registering an increase of 3.02% over the past 12 months as of Q3 2023.
From an operational perspective, GoDaddy’s gross profit margin is high at 63.02%, demonstrating its ability to maintain profitability in its core business. InvestingPro’s tips suggest that management is actively buying back stock, which could indicate confidence in the company’s future prospects and a commitment to increasing shareholder value. Additionally, the company’s high shareholder return is another concern for investors looking for profit-oriented companies.
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