Ethereum Name Service (ENS) is a decentralized, open, and extensible naming system based on the Ethereum blockchain.
What is Ethereum Name Service (ENS)?
ENS’s job is to map human-readable names like ‘alice.eth’ to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata. ENS also supports ‘reverse resolution’, making it possible to associate metadata like canonical names or interface descriptions with Ethereum addresses.
ENS aims for similar goals to the Domain Name Service (DNS) of the Internet but operates on a significantly different architecture due to the capabilities and restrictions provided by the Ethereum blockchain. Like DNS, ENS works on a system consisting of hierarchical names separated by dots, and the owner of a domain has full control over its subdomains.
Top-level domain names such as “.eth” and “.test” belong to smart contracts called registrars, which set the rules for allocating subdomains. Anyone can own a domain name for their use by adhering to these rules set by the registrar contracts. ENS also supports importing DNS names that the user already owns for use in ENS.
Due to ENS’s hierarchical structure, anyone who owns a domain at any level can configure subdomains as desired. For example, if Alice owns ‘alice.eth’, she can create ‘pay.alice.eth’ and configure it however she wants.
ENS is deployed on the Ethereum mainnet and several test networks. If you use a library like the ensjs JavaScript library or an end-user application, it automatically detects the network you are interacting with and uses the ENS deployment on that network.
Furthermore, when the ENS .eth registrar transitioned in May 2019, the .eth registrar became an ERC721 compatible NFT contract, meaning .eth registrations can be transferred in the same way as other NFTs.
ENS Coin Review
Domain usage and ownership are highly significant today, making Ethereum Name Service a noteworthy project. The platform’s airdrop and subsequent listing on Binance attracted many investors’ attention, with investors seeing significant gains. We can understand this more clearly by looking at current data.
How to Buy Ethereum Name Service?
ENS Coin can be quickly and securely purchased via Binance, the world’s largest cryptocurrency trading platform by transaction volume.
To buy ENS Coin, one must first register on Binance and then send fiat money. After sending a fiat currency like US dollars, purchasing can be made in the Bitcoin (BTC), Binance Coin (BNB), BUSD, and Tether (USDT) ENS trading pairs.
In addition, on Binance, users can place an order to buy at a price lower than the market value. To do this, use the Limit tab and enter the amount and price you want to buy at.
