Ethereum Name Service popularly known as ENS is a domain service based on the Ethereum virtual platform. It lets its users associate simple nickname-like names to their Ethereum addresses. Making it easier for people they use blockchain. Instead of using a bunch of numbers and letters to address an Ethereum wallet. ENS lets users type in names like “example. eth. ” In this guide, we’ll explain to you everything you’ve always wanted to know about ENS. And how this simple tool is changing Ethereum and Web3.
What Is ENS?
ENS stands for Ethereum Name Service and it’s the decentralized naming service. For converting easily memorable names to the Ethereum address. And other cryptocurrencies’ addresses or content hashes or IPFS content. Thus it breaks the interaction with the blockchain. And decentralization processes into small chunks that are easily understandable and adoptable to the common user.
For instance, instead of giving Ethereum to a large alphanumeric ID such as 0x123. .. For example, if the name of the recipient is `Alice` and the id is `456`, you can send it to `Alice.` eth`. ENS does not only help with sending and receiving money. But also builds an identity architecture that can be used widely by dApps and other Web3 applications.
How Does ENS Work?
ENS resembles DNS, but unlike DNS, it is not controlled by a single authority. Rather, ENS is based on the Ethereum platform. Here’s how it works:
- Name Registration: ENS allows name registration and users can successfully register a name for instance ‘example. eth’. Domains are Non-Fungible Tokens on Ethereum which means you own the name in the truest sense of the word.
- Mapping: After you obtain the ENS name, you can link it to any Ethereum address. Smart contracts, or even such types of content as IPFS websites, etc.
- Resolution: With ENS registered, typing your ENS name is automatically converted to the corresponding Ethereum address of your wallet thus allowing for easy transactions.
Benefits of ENS
Simplified Transactions
ENS helps eradicate the inconvenience one being forced to copy a long Ethereum address. And end up sending funds to the wrong address. They make transactions easier especially for new betters and also other experienced ones.
Multi-Chain and Multi-Purpose
However, ENS is mainly used to determine Ethereum addresses. But it can also be applied to other cryptocurrencies and decentralized storage such as IPFS. This cross-chain function makes ENS identity usable in different platforms and blockchain networks.
Ownership and Control
ENS names are registered as NFTs, therefore granting the full ownership of domains to the users. While regular domain names are rented from domain name registrar organizations. ENS names are owned and governed by their respective users.
To register an ENS domain a user has to follow the following process:
The procedure of registration of the ENS domain is quite simple. Here’s how you can get started:
- Visit the ENS DApp: Go to the ENS DApp, which can be accessed through the URL – app. ens. domains, and explore the name you want ( e. g. yourname.eth).
- Check Availability: The system will also notify you if the name is available or not That was why Muslim organizations and scholars were quick to come out and condemn the action of the group. If it is, then you go ahead with the registration process.
- Set Registration Duration: Decide the period of time that you want the name to be registered. ENS domains cost a minimal fee which is to be paid yearly in ether.
- Confirm and Pay: After choosing your name and the registration time, check the details of the transaction on the Ethereum’s wallet like MetaMask. There are few rules again after the transaction is complete, the domain belongs to you.
- Configure Your ENS Domain: Once registered you can link your ENS name with your Ethereum address or any other assets that you own.
Typical Applications of ENS Domains
- Wallet Addresses: By far, the most popular application of ENS names is to avoid typing complex wallet addresses when transacting in ether.
- Website Hosting: You can have websites on IPFS and associate them with your ENS domain – forming censorship-proof websites.
- Identity Across dApps: ENS can also provide users with an identity across multiple dApps as it can replace your username on a given dApp which is usually metadoxically called a ‘profile.’
The Future of ENS
It can now be seen that ENS is transforming into something beyond a basic naming service. At the same time, with decentralization of identity and Web3, ENS can become very significant for our interactions with the blockchain. So the more apps and platforms use ENS, it will become the go-to naming system for Ethereum, and everything else that comes after it.
Also, moving from being Ethereum names only or related primarily to buying and selling domain names to expanding to multi-chain compatibility and use cases such as decentralised social profiles, voting & governance also reveals the potential of the ENS to become an essential part of blockchain infrastructure.
Conclusion
Currently, the Ethereum Name Service is among the players in the blockchain industry that is changing the way users engage with ethereum using ethereum addresses that users can relate to easily. Its primary use is presenting capabilities far beyond a naming service because ENS is ultimately an identity layer for Web3 that opens up simpler, multi-chain, and truly owned digital domain transactions.
To the new entrant seeking to venture into the Web3 or the NFT space, ENS is a very powerful tool that can make your experience a lot better. To broaden the understanding of the block-chain technology and other decentralized services.