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 Verfiable 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
Once claimed, the claimer owns their web3name forever unless they decide to actively release it. web3name does not “cost” anything. Creating the on-chain DID requires a deposit (currently 2 KILT), which is returned if the user releases the DID at any given point in the future. And since the DID and web3name are anchored on the blockchain there is are transaction fees to create them, currently around 0.0086 KILT (0.0043/transaction)
There is no leasing and no additional costs.
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.