ENS Intro

25 May 2022

The Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain.
It's marketcap rank in CMC is 129 ,pretty good.
ENS’s job is to map human-readable names like ‘alice.eth’ to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata. ENS also supports ‘reverse resolution’, making it possible to associate metadata such as canonical names or interface descriptions with Ethereum addresses.

ENS is deployed on the Ethereum main network and on several test networks. If you use a library such as the ensjs Javascript library, or an end-user application, it will automatically detect the network you are interacting with and use the ENS deployment on that network.

ENS is now tradable in exhanges like binance ,coinbase and other major exchanges now trading at $12 . It's total supply is 20,244,862.09 with all time high $85.69.

Under the hood, ENS is built on two smart contracts. The first is an ENS registry recording domains registered on ENS and stores the following information about each of them:
The domain owner
The domain resolver
The caching time for all records under the domain
The second smart contract is the resolver. Its purpose is to translate the machine-readable addresses to domain names and vice versa and match each domain to its corresponding user, website, or address.

Write & Read to Earn with BULB

Learn More

Enjoy this blog? Subscribe to grika

1 Comment

No comments yet.
Most relevant comments are displayed, so some may have been filtered out.