Ethereum Name Service (ENS) is a decentralized naming system that simplifies working with cryptocurrencies by converting complex addresses into user-friendly names.
What is Ethereum Name Service (ENS)?
ENS is a decentralized domain name system on Ethereum that converts long wallet addresses into easily memorable names, such as 'yourname.eth'. For example, Ethereum co-founder Vitalik Buterin's wallet address becomes 'vitalik.eth', significantly simplifying cryptocurrency transactions.
Key Features of ENS Domains
Each ENS domain functions as an NFT, tradable on platforms like OpenSea. Users can link both their Ethereum addresses and other cryptocurrency wallets, as well as social accounts and email addresses to their domain. The registration process is straightforward: connect a wallet and pay the registration fee in ETH, with renewal required annually based on the length of the name.
How to Register an ENS Domain
Registering an ENS domain is simple: users connect their wallet, search for the desired name, and pay the registration fee in ETH. Fees vary based on the name's length, ranging from $5 to $640 per year.
Overall, Ethereum Name Service greatly enhances blockchain interaction, making it more accessible and less risky, particularly for newcomers. ENS represents a foundational layer for identity within the Web3 ecosystem.
