Ethereum Name Service, a service aiming to link addresses on the Ethereum Blockchain to more user-friendly and understandable names, has seen a significant demand for its altcoin ENS in dollars. The Etherscan team, which operates a Blockchain explorer used to monitor transactions, addresses, contracts, and other statistics of the Ethereum network, has requested the establishment of a regular budget to finance the ongoing development of the Ethereum Name Service.
Ethereum Name Service Requests $1 Million Budget Proposal
The Etherscan team recently proposed a budget on the Ethereum Name Service DAO forum. The team requested an annual budget of $1 million for the continuous development, support, and related advancements of the Ethereum Name Service on Etherscan.
In November 2021, Etherscan received significant financial support from Ethereum Name Service. At that time, Ethereum Name Service had donated 46,296 ENS to Etherscan.
Ethereum Name Service and Etherscan
Etherscan has been developed to transparently track the Ethereum network and provide users with detailed information about Ethereum wallets, transactions, and contracts. Essentially, Etherscan offers users detailed information about events occurring on the Ethereum Blockchain.
Etherscan is a Blockchain explorer used to monitor transactions, addresses, contracts, and other statistics of the Ethereum network. It is designed to track the Ethereum network transparently and provide users with detailed information about Ethereum wallets, transactions, and contracts, essentially offering detailed information about events on the Ethereum Blockchain.
Like many other data on Etherscan, wallet addresses are extremely complex. This is where the Ethereum Name Service steps in, aiming to link wallet addresses on the Ethereum Blockchain to more user-friendly and understandable names. This allows users to use more readable names instead of complex Ethereum wallet addresses. ENS has a structure similar to the internet domain name system but is designed to host Ethereum wallet addresses.
This way, users can use more readable names (such as omer.eth) instead of complex Ethereum wallet addresses. Ethereum Name Service has a structure similar to the internet domain name system but is designed exclusively to host Ethereum wallet addresses.
