The Ethereum Name Service (ENS) is a decentralized and open method to name one’s cryptocurrency wallets, websites, or anything one would want to store their data. Similar to the internet domain name service (DNS), ENS acts to enable communication between “human-readable names” like “alyssa.eth,” and “machine-readable” identifiers like crypto wallet addresses, content hashes, and metadata.
Essentially, an ENS domain name can store all of one’s wallet addresses, and other profile data to receive and send crypto, NFTs, and tokens. In owning a domain name, users can seamlessly use it across services and platforms without having to copy a paste a string of unique characters.
According to the website, ENS development is managed by a Singaporean non-profit, True Names LTD. As a “basic piece of infrastructure” to the internet, ENS domains are a public good created for the community. For users to own an ENS domain, they have to first make sure the name is not already taken by any of the other 160,000 owners.
After ensuring a name is available, users are then prompted to pay for the domain which price depends on how long the owner would like to keep the name for.
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