Ethereum Name Service: everyting you need to know about ENS

What is Ethereum Name Service?

Ethereum Name Service (ENS) is a decentralized domain name system built on the Ethereum blockchain. It provides a secure and user-friendly way to link Ethereum addresses and other machine-readable identification data to easily remembered names, such as 'alice.eth'. ENS aims to make blockchain technology more accessible to everyday users.

How does Ethereum Name Service work?

ENS works by allowing users to register domain names (such as '.eth') that are linked to their Ethereum addresses. These domains serve as user-friendly replacements for the long and complex cryptographic addresses. By using a domain, users can easily conduct transactions without having to remember or enter long addresses.

The ENS token.

The native token of Ethereum Name Service is ENS. This token is used to govern the network through a decentralized autonomous organization model (DAO), in which token holders have voting rights over important decisions within the ENS ecosystem.

The technology behind ENS.

ENS is based on smart contracts on the Ethereum blockchain. These contracts manage the registration, renewal, and transfer of domain names. ENS also integrates with other blockchains and systems, making it a versatile solution for domain name management in the decentralized world.

The Ethereum Name Service ecosystem.

The ENS ecosystem is a robust and multifunctional environment that offers a wide range of services and functions, all aimed at improving the user experience in the decentralized world. This ecosystem includes:

• Domain registration and management: The central focus is on users' ability to register and manage '.eth' domains, allowing them to create a user-friendly alias for their Ethereum addresses.
• Integration with multiple blockchain networks: ENS is not limited to the Ethereum blockchain and aims for interoperability with various other networks.
• Support for various types of cryptographic addresses: In addition to Ethereum addresses, ENS supports a variety of other addresses, making it a universal system for digital identity.
• Community governance via DAO: The governance of ENS is in the hands of the community, where ENS token holders have voting rights in the DAO, contributing to the decentralization and democratization of management.
• Partnerships with important wallets and applications: ENS collaborates with leading wallets and applications to increase its adoption and functionality.

Benefits of Ethereum Name Service

ENS brings numerous benefits with it, contributing to its popularity and growing acceptance.

• User-friendliness: ENS makes it easier for users to interact with Ethereum addresses, increasing the accessibility of blockchain technology.
• Decentralization: ENS stands for a fully decentralized and secure domain name system, in contrast to traditional centralized systems.
• Compatibility: ENS supports various blockchain technologies, making it a versatile solution for users across different platforms.
• Community governance: The involvement of the community in the governance of ENS ensures a democratic and transparent development of the platform.

Who is the founder of Ethereum Name Service?

Despite the many advantages, ENS also has some disadvantages:

• Dependent on Ethereum: As a system built on the Ethereum blockchain, ENS is subject to the limitations in scalability and sometimes high transaction costs of Ethereum.
• Limited familiarity: ENS is not yet as widespread and widely accepted as traditional domain name systems, which can hinder adoption.
• Risks of smart contracts: Just like any system based on smart contracts, ENS is at risk of bugs or vulnerabilities, which can affect its security and reliability.

Expectations for the upcoming time

What are the expectations for the Ethereum Name Service price? Below you will find a brief price prediction from cryptocurrency analysts. A detailed expectation for ENS can be found on the Ethereum Name Service expectation page.

Experts expect a minimum price of €52.18 in 2026 and a minimum price of €172.67 in 2031.

Frequently asked questions