Ethereum Name Service

What is Ethereum Name Service (ENS)?

Ethereum Name Service, abbreviated ENS, is a decentralized name service that is built on top of the Ethereum blockchain. It allows human-readable names for Ethereum addresses, content hashes, and metadata. This simply puts one step forward into what the community envisions for Ethereum to accomplish, letting users interact with the Ethereum network by using easily readable names such as "name.eth," making the whole cumbersome work with complex addresses go away.

What Problem Does ENS Solve?

ENS Addresses: Complexity: Makes Ethereum addresses user-friendly and simplified. Accessibility: Making blockchain-related interactions accessible to non-technically oriented audiences. Security: Reduces the risk of errors in sending transactions.

Why Does the Crypto Market Need ENS?

The ENS brings these benefits to the crypto market: Improved Usability: Makes the Ethereum address memorable and easy to use. Branding: The way to create Ethereum addresses branded and known to people and enterprises. Interoperability: Integrates with other decentralized applications and wallets.

History of ENS

ENS launched in May 2017 and quickly became critical infrastructure for the Ethereum ecosystem. Since its launch, it has spread across many integrations in various platforms and services.

Who Developed Ethereum Name Service (ENS)?

ENS was developed by the Ethereum Foundation, with contributions from many developers, including Nick Johnson and Alex Van de Sande.

What Is ENS Technology and How Does It Work?

ENS Uses: Ethereum Blockchain: This is done to give it a decentralized, secure structure. Smart Contracts: Register, resolve, and transfer domain names. IPFS (InterPlanetary File System): Decentralized storage of the contents linked to ENS names.

What Determines the Price of Ethereum Name Service (ENS)?

Factors that affect the price of ENS: Market Sentiment: News, developments, and adoption. Platform Adoption: Expanded use of ENS domains. Technological Advances: Improvements and new integrations. Regulatory Changes: Cryptocurrency regulations.

How Many ENS Tokens Are in Circulation?

An estimation would see the number of ENS tokens in circulation to be around 32,933,386 out of a total of 100,000,000.

What's the Maximum ENS Supply?

The highest supply of ENS tokens is a maximum cap of 100,000,000 tokens.

What is ENS Utility?

ENS tokens can be used for: Governance: Granting token holders the ability to make proposals and vote for protocol modifications. Staking: Take part in governance decisions and be rewarded. Fee Payments: Register and renew ENS names.

ENS Tokenomics

ENS tokenomics are: Staking and Rewards: Reward and incentive mechanisms for participating in governance. Governance: Voting on important decisions and protocol upgrades. Supply Cap: 100,000,000 tokens to ensure scarcity and value.

What is the All-Time High and All-Time Low for ENS?

All-Time High: $83.40 on November 11, 2021 All-Time Low: $6.69 on October 19, 2023

Where can I buy ENS?

ENS tokens are currently trading on a number of the largest cryptocurrency exchanges, including: Binance Coinbase Kraken Uniswap

Who Invested in ENS?

ENS had no traditional early-stage investors. It was developed as part of the greater Ethereum ecosystem, funded and supported by resources from the Ethereum Foundation.

What are the Revenue Streams of ENS?

ENS's various sources of revenue include: Registration Fees: For acquiring new ENS names. Renewal Fees: To keep ownership of ENS names. Governance Participation: Expected rewards through participation in governance decisions.