Ethereum Name Service Ens Price USD

The Ethereum blockchain is the basis for the Ethereum Name Service (ENS), which is a distributed, open, and expandable naming system. ENS turns Ethereum addresses that can be read by humans, like john.eth, into the alphanumeric codes that wallets like Metamask use. It is also possible to link metadata and addresses that can be read by machines with addresses that can be read by humans.

The goal of Ethereum Name Service is to make it easier for humans to access and understand the Ethereum-based web. This is similar to how the Internet's Domain Name Service makes the internet easier to use. Like DNS, ENS uses a system of hierarchical names called domains that are separated by dots. Domain owners have full control over their subdomains.

Ethereum Name Service is the first service to move the Domain Name Service to the decentralised Web3. This gives it a unique value proposition.

ENS is not a company, but an open-source project that calls itself "an open public utility that belongs to the company." Basically, it wants to be as important to Web3 as the DNS is to the internet in terms of infrastructure. Also, thanks to blockchain technology, ENS doesn't have a single point of failure. It was made to be more secure and resistant to censorship.

When ENS launched in November 2021, it did a very successful retroactive airdrop that gave rewards to users who had registered addresses before the project's token launched. But in February 2022, its director of operations got in trouble for tweets that seemed to be homophobic.

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