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- 1 ENS removes the confusion and the need for having multiple addresses on a decentralized platform.
- 2 Ethereum Name Service can also be used on contracts, transactions, and metadata.
In this world of crypto currencies, lengthy and unreadable wallet adresses can be quite confusing to users. However, ENS short for Ethereum Name Service is here to save the day.
What is ENS? A Beginners Guide
ENS is a name and lookup service built on the Ethereum blockchain platform that converts machine-readable addresses to human-readable ones. It is like giving a nickname to a complex address.
ENS is incredibly useful in multiple blockchain platforms where data or digital documents can be directly issued to a simple ENS. However it is also useful in crypto trading where the crypto can be sent, received, and traded on an easy-to-remember ENS address for the wallet.
ENS can be used for crypto wallets, content hashes, websites, metadata, and more. Since it is based on a decentralized platform, it is secure.
The Working of ENS
ENS is based on two smart contracts developed on the Ethereum platform. The first smart contract is an ENS registry that contains data about all the domains registered under ENS, including details of the domain, the owner of the domain, the resolver for the domain, and caching time for all the records under that domain.
The second contract is Resolver, which converts machine-readable addresses to human-readable ones and matches domain names to individuals, websites, or addresses. The number of available domains is increasing, and the popularity of subdomains of domains like .eth has also increased in recent years.
ENS eliminates confusion and the need for having multiple addresses on a decentralized platform. Users can use a single name or address for all kinds of transactions on the blockchain platform. ENS leads to less chance of errors while sending cryptocurrency to wallet addresses.
The domain owner can create subdomains that can also be assigned to others. The same ENS can also be used on contracts, transactions, and metadata, instead of the domain name. The possibilities of ENS are vast and and will further increase with the development of Web 3.0. ENS could be used in multiple segments in Web 3.0.
Some Unique Features of ENS
The ENS system has introduced several new features, including a sweep feature, bulk renewal, bulk listings, bulk transfer, and renewal sync. The renewal sync feature allows users to sync their multiple ENS domains to renew at set intervals. This is useful for brands and individuals managing multiple domains and prevents the hassle of renewing the domains separately.
ENS domains are still in the early stages, and the sale of domains like “cars.com” for more than $800 Million shows that there will be a considerable market for domains in the future. Brands seek perfect opportunities to invest in their domains, and there is a need for professionals who can bridge the gap between the web3 ecosystem and integrate it with their products to reach a more comprehensive audience range.
Summary
ENS simplifies blockchain transactions by allowing users to have a single easy-to-remember name or address for all kinds of transactions. It reduces errors while sending cryptocurrency to wallet addresses and eliminates the need for multiple addresses on decentralized platforms.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
