Decentralized, open, and extensible, Ethereum Name Service (ENS) is a naming system running on the Ethereum blockchain. Its primary function is to link human-readable names like ‘alice.eth’ to machine-readable identifiers such as Ethereum addresses, content hashes, and metadata. ENS also enables reverse resolution, allowing metadata to be associated with Ethereum addresses.

Similar to the Domain Name Service (DNS) used on the Internet, ENS operates on a hierarchical structure and provides full control to domain owners over their subdomains. Top-level domain names such as “.eth” and “.test” are managed by smart contracts known as registrars, setting the rules for subdomain allocation. Importantly, ENS permits users to import DNS names they already own for integration into the system.

Ownership of a domain at any level allows individuals to configure subdomains as needed. For instance, if a user like Alice owns ‘alice.eth’, she can create subdomains like ‘pay.alice.eth’. ENS is functional on the Ethereum mainnet and multiple test networks, automatically detecting the interacting network through libraries or end-user applications.

A notable transition in May 2019 occurred when the .eth registrar became an ERC721-compatible NFT contract, enabling .eth registrations to be treated similarly to other NFTs through transfers.

Review of ENS Coin

Given the increasing significance of domain usage and ownership, Ethereum Name Service presents itself as a notable project. Investors have shown interest in the platform, especially after its airdrop and listing on Binance, resulting in substantial gains. A deeper understanding of the project can be gained by analyzing current data trends.

Purchasing Ethereum Name Service

Interested individuals can securely acquire ENS Coin through Binance, one of the largest cryptocurrency exchanges globally. To purchase ENS Coin, users need to register on the Binance platform, deposit fiat currency like US dollars, and proceed with trading using Bitcoin (BTC), Binance Coin (BNB), BUSD, or Tether (USDT) ENS trading pairs.

Furthermore, users on Binance have the option to place buy orders below market value by utilizing the Limit tab and specifying the desired price and amount.

This information was originally published on COINTURK NEWS.