What is Ethereum Name Service (ENS)?

Ethereum Name Service (ENS) makes using cryptocurrency simpler. Instead of using long addresses for your wallets, you have something easier, such as yourname.eth. This helps send and receive transactions in cryptocurrency without making any errors, as well as aids in creating a web identity with a name one owns. In this article, I will explain Ethereum Name Service (ENS), how it works, and its significance in the future of the internet.

What is Ethereum Name Service (ENS)?

Ethereum Name Service (ENS) is a service that simplifies Ethereum addresses into human-readable names. ENS allows a person to replace difficult alphabetic sequences with easy names such as “alice.eth.” ENS is based on Ethereum, and it utilizes smart contracts for secure name mapping. It works as a blockchain-based DNS system. In the same way DNS converts IP addresses to the respective website names, ENS does it for crypto wallets. It allows users to send money or interact with dApps with ease. ENS also maps names to websites and profiles. ENS makes Web3 identities easier and more usable.

How Ethereum Name Service (ENS) Works

The Ethereum Name Service lacks a central authority like many other systems and has three components, which include a registry, resolver, and registrar. Each component is Important in adding to the security and user friendliness of ENS.

1. Registry: The registry is where all ENS domains are stored. ENS domains are stored in smart Ethereum contracts, along with a list that contains information about the owner, the resolver, and the domain’s TTL. The smart contract allows complete control where users can securely update, transfer, and manage domains.

2. Resolver: The resolver is responsible for computer translation. “Alice” is first changed into “alice.eth”, and after that, the resolver maps the ENS name to an actual Ethereum address or content. Resolvers can also link ENS names to other data, such as IPFS content or crypto addresses on other chains. This allows the use of ENS after the feature of address recognition for wallets.

3. Registrar: The registrar manages how people register and renew ENS domains. It runs auctions or fixed-price domain name sales and ensures that ownership is tracked. Popular ENS domains, such as “.eth,” are managed by designated registrars that enforce specific rules for name registration and ownership.

How to Register an ENS Domain

Registering an ENS domain is simple and quick. Follow these easy steps:

1. Prepare Your Wallet: Make sure you have an Ethereum wallet like MetaMask or Trust Wallet. You’ll need a certain amount of ETH to cover both the domain registration cost and associated gas fees.

2. Visit the ENS dApp: Go to the official ENS app at app.ens.domains. Connect your wallet securely to the site.

3. Search for Your Domain: Type your desired domain name ending with “.eth.” Check if the name is available for registration.

4. Start the Registration: If available, click “Request to Register.” Confirm the transaction in your wallet to begin the process.

5. Wait for the Registration Period: You’ll have to wait about 60 seconds for the first transaction to confirm. Then, click “Complete Registration” and confirm the second transaction.

6. Set Your Resolver and Address: After registration, set the resolver to link your domain to your Ethereum address. This step allows you to receive crypto or points from websites.

7. Manage and Renew: ENS domains are rented, not owned forever. Typical registration lasts 1 year and costs a fee plus gas. You must renew your domain before expiration to keep it.

Fees and Expiration

• Registration fees depend on the name length and demand.
• Gas fees vary with network congestion.
• Renewal is required yearly to maintain ownership.
• ENS also supports multi-year registrations to save fees.

Registering your ENS domain gives you a simple way to manage your crypto identity.

Key Features and Use Cases of Ethereum Name Service (ENS)

• Human-Readable Ethereum Addresses: ENS lets you use names like “alice.eth” instead of long wallet strings. This reduces errors and improves usability.

• Decentralization and Censorship Resistance: ENS runs on Ethereum’s blockchain, ensuring no central control or censorship. Users maintain full ownership of their domains.

• IPFS and Content Hash Support: You can link ENS domains to IPFS-hosted content for decentralized websites. This supports censorship-resistant web hosting.

• Multichain and Cross-Chain Compatibility: ENS is compatible with Ethereum and other blockchains, allowing a single name to link to multiple wallet addresses across different networks. This flexibility fits the growing multi-chain ecosystem.

• Simplified Crypto Wallet Addresses: Senders and receivers use simple ENS names instead of complex addresses. This improves the user experience in crypto transactions.

• dApp Integration and Login Identity
  ENS names serve as login IDs across many decentralized applications.
  They enable seamless identity verification without passwords.

• Domain Leasing and Subdomain Creation
  ENS allows users to lease or create subdomains, useful for businesses or communities.
  This expands ENS’s role in digital identity and branding.

Real-World Use Cases of Ethereum Name Service (ENS)

• Simplified Crypto Payments: Send and receive tokens easily using ENS names, avoiding errors.

• Decentralized Website Hosting: Host websites on IPFS and link them via ENS for censorship-free access.

• Cross-Chain Wallet Management: Use one ENS name to manage addresses across Ethereum, Polygon, Binance Smart Chain, and more.

• Web3 Login and Identity: Log in to dApps with ENS instead of traditional usernames or emails.

• Branding and Marketing: Businesses use ENS domains for branded Web3 identities and digital assets.

• NFT and DAO Integration: Link ENS names to NFT collections or DAO memberships for easy recognition.

• Domain Leasing for Communities: Communities lease ENS subdomains for events, projects, or member IDs.

• Secure Messaging and Profiles: Attach profiles or messaging handles to ENS names for secure communication.

ENS Governance and ENS Token

The Ethereum Name Service (ENS) token lets users take part in running ENS. With these tokens, people vote on important updates and changes. ENS is managed by a group called the ENS DAO. This group makes decisions about money and how ENS grows.

In 2021, ENS gave away tokens to early users in an airdrop. This helped more people join in and have a say. Token holders can suggest ideas and vote on new features. This keeps ENS fair and guided by its community. The ENS DAO now works on new uses beyond names, like Web3 identity. Holding the Ethereum Name Service (ENS) token is how you join this process.

Recent Developments and Partnerships of Ethereum Name Service (ENS)

Ethereum Name Service (ENS) is growing quickly with strong partnerships and upgrades. It now works with major companies like GoDaddy and Brave. Users can link traditional domains to ENS and browse eth sites easily. Payment apps like PayPal and Venmo let people send crypto using ENS names instead of long addresses. Even Ubisoft uses ENS for gamer IDs in a popular new game.

Over 3 million ETH names are registered with around 862,000 unique owners. ENS is building Namechain, a Layer-2 system to lower fees and speed up transactions, expected in late 2025. They also plan ENSv2 to boost performance while keeping Ethereum-level security. In 2024, ENS generated nearly $29 million, funding ongoing growth and improvements.

Key points:

• Brave browser supports direct access to .eth websites
• Ubisoft uses ENS for player IDs in “Captain Laserhawk.”
• Over 3 million .eth names registered, 862,000+ owners
• Namechain (Layer-2) launch planned for late 2025 to cut fees
• ENSv2 upgrade to improve speed and security
• 2024 revenue near $29 million, funding ENS development

Where to Buy and Store ENS Tokens

Buy ENS tokens on:

• Binance
• Coinbase
• Uniswap

Store tokens with:

• MetaMask
• Ledger
• Trezor

Conclusion

Ethereum Name Service (ENS) is shaping the future of the internet. It transforms complex crypto addresses into simple, easy-to-use names. The Ethereum Name Service (ENS) paves the way for a more secure and user-friendly Web3 experience. Owning your own Ethereum Name Service (ENS) domain puts you in control of your online identity. It’s a smart move to join the new digital world. Take the step today and secure your ENS name.

FAQs 

• Can ENS names be transferred or sold?
  Yes, ENS names can be bought, sold, or transferred like regular digital assets. You control your ENS domain through your wallet.
• What happens when a domain expires?
  If you don’t renew your ENS domain before it expires, it enters a grace period. After that, it becomes available for others to register.
• Can I use ENS for non-Ethereum assets?
  Yes. ENS supports multiple blockchain addresses and content like websites on IPFS, not just Ethereum addresses.