What is the Ethereum Name Service?
In simple words, if earlier you had to use IP addresses in Web2, today in the Web 3.0 space you have to deal with long alphanumeric values, such as your wallet address or transaction hashes. To solve this problem, there is ENS or Ethereum Name service.
The main task of ENS is to help you translate complex identifiers in Web3 into readable names (domains), which are then registered on the Ethereum blockchain. For example, crypto wallet addresses, hashes and metadata.
So using ENS, you can buy a domain like awsmnft.eth or asos.eth and link it to your Ethereum wallet address, which looks something like this: “0x3bsfjbk234basf8iwerb….”. Now every time you want to receive a transfer, you can provide the sender with your ENS domain instead of a complex wallet address.
What is the difference between a new domain on ENS and DNS?
- The ENS service is built on the Ethereum blockchain, a decentralized network that is not controlled by any central authority, which makes domains more secure and private. No centralized organization (such as the government) can block your .eth domains in any geographic location.
- ENS replaces manual and control systems with Ethereum-based automated smart contracts. And by becoming the owner of an ENS domain, you can easily create and own its subdomains. For example, if you own awsmnft.eth, you can create subdomains such as awsmnfttutor.eth or blogawsmnft.eth and set them up to pay for tuition or publish news about the world of NFT.
How does ENS work?
The ENS domain name uses non-fungible tokens (NFTs) ERC-721 to create the domain. This domain can be transferred or sold as an NFT to anyone. Wallet addresses and other information are attached to each token that the owner manages. A top-level domain, such as .eth, is owned by a smart contract called a registrar, which in turn controls the creation of subdomains. That is, to create awsmnft*.eth*, you will need to interact with the .eth registrar.
The highest bidder who won the domain could attach addresses, create subdomains, and rent or sell their domain name.
How to buy ENS-domain?
Step 1: Go to site https://ens.domains/ and connect your preferred crypto wallet by clicking the "Connect" button in the upper left corner.
Step 2: In the search tab, find the .eth domain you would like to own.
Step 3: If this domain has not yet been purchased, ENS will mark it as "Available".
Step 4: After clicking on the domain name, you will be taken to the registration page. You can add the number of years you want to register the domain for, check the deal details and request a registration.
Step 5: You will receive a transaction approval request from your connected wallet. Click "Confirm" to confirm the transaction.
Now you can connect the domain to the wallet or use it as you wish. By the way, the price of an ENS domain will depend on its length, desired duration of registration, and availability.
How to apply for an Ethereum Name Service airdrop
Any user with an .eth address is eligible to receive $ENS tokens. You can request them in a few simple steps. Do this by May 4, 2022 to receive tokens before they are burned.
- First go to ENS Airdrops and connect your wallet by clicking "Connect"
- Select the desired wallet, such as MetaMask, WalletConnect or another provider.
- Click "Start".
- You will see the option “Start receiving process” as well as the desired amount.
- Be sure to read the information about $ENS, as well as the constitution, which will need to be signed using the wallet.
- Now you can delegate the right to vote tokens to other users. At the end, check the requested amount and your delegate, click "Get" and pay the gas fee to unlock your tokens.
How much does an ENS domain cost?
ENS domains cost as little as $5 before Ethereum transactions fees.
Where can you buy ENS tokens?
ENS tokens can be purchased at the following exchanges:
- FTX -ByBit
- Sushi Swap
In the world of decentralized networks, ENS is a step towards creating convenient ways to interact with the blockchain. Just as IP addresses were no longer used for navigating the web, ENS names will proliferate due to their simplicity and growing popularity.