Ethereum $3,424 Name Service (ENS) is a distributed, open, and extensible naming system operated on the Ethereum blockchain.
What is Ethereum Name Service (ENS)?
The main function of ENS is to map human-readable names like ‘alice.eth’ to machine-readable identifiers such as Ethereum addresses or other cryptocurrency addresses. In addition, ENS supports reverse resolution, enabling metadata like rules or interface descriptions to be linked to Ethereum addresses.
ENS shares similar objectives with DNS, the internet’s domain name service, but operates with a significantly different architecture due to the capabilities and constraints provided by the Ethereum blockchain. Like DNS, ENS operates on a system of hierarchical names separated by dots, known as domains. The owner of a domain has full control over subdomains within that domain.
ENS is deployed on the Ethereum network as well as on several test networks. When a library such as a JavaScript library or a user-facing application is used, ENS automatically detects the network it is interacting with and utilizes the ENS deployment for that network.
Where to Buy ENS Coin?
The Ethereum Name Service Token can be securely bought and sold on Binance, the world’s largest cryptocurrency exchange by trading volume. ENS Coin is traded on the Binance platform in pairs such as ENS/BTC, ENS/BNB, ENS/USDT, and ENS/BUSD.
To purchase ENS Coin, you must first become a member of the Binance exchange. Once membership is complete, cryptocurrency or fiat currency must be transferred to the Binance wallet. After the transfer is completed, you can buy ENS Coin in any of the four pairs mentioned above. To buy from the ENS/USDT trading pair, first, navigate to its interface. In the interface, enter the amount you wish to purchase in the limit section. After entering the amount, the purchase can be completed by placing a ‘Buy ENS’ order.