How is web3name different from domain services like Ethereum Name Service (ENS)?
There are several ways that they are different, including:
web3names are not transferable and not designed for sale
A web3name is linked to a decentralized identifier (DID), not a crypto address. You can add verifiable credentials, various crypto accounts, etc. to your DID to build your digital identity. Selling your web3name would be like selling your name without your fingerprint attached. None of the credentials or addresses would be valid.
The process of obtaining a web3name is different from ENS.
A web3name is anchored on the KILT blockchain and therefore involves a small transaction fee and deposit. There are two ways to pay for these – with KILT Coins, or using the Checkout Service and paying via Paypal. See here for more details. There is no leasing and no additional cost.
Once claimed, the claimer owns their web3name forever unless they decide to actively release it.
Before claiming your web3name you need a DID. Like the web3name, this is anchored on the KILT blockchain and can be paid for with KILT Coins, or using the Checkout Service and paying via PayPal.
web3name is more flexible than ENS. Your DID is linked to your web3name in a 1:1 relation, but you can add multiple crypto addresses from different networks to it
The web3name of a famous brand is worthless to anyone other than the brand itself as only the owner of the brand can get the credentials such as the correct Twitter address, email, etc.