Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS converts human-readable Ethereum addresses like john.eth into the machine-readable alphanumeric codes you know from wallets like Metamask. The reverse conversion -- associating metadata and machine-readable addresses with human-readable Ethereum addresses -- is also possible.

The goal of Ethereum Name Service is to make the Ethereum-based web easier to access and comprehend for humans - similar to how the Internet’s Domain Name Service makes the internet more accessible. Like DNS, ENS also uses a system of dot-separated hierarchical names called domains with domain owners fully controlling their subdomains.

ENS launched with a highly successful retroactive airdrop in November 2021 that rewarded users who had registered addresses before the project launched its token. However, in February 2022, it faced criticism over apparently homophobic tweets by its director of operations.

ENS was initially a part of the Ethereum Foundation, but spun off as a separate organization in 2018. Its Lead Developer is Nick Johnson, a software engineer from New Zealand that previously worked at Google and the Ethereum Foundation. The ENS team is nine people strong and its treasury is governed by a 4-7 multi-signature root with the following members:

• Nick Johnson - ENS
• Sergey Nazarov - Chainlink
• Dan Finlay - Metamask
• Taylor Monahan - MyCrypto
• Aron Fischer - Colony
• Jason Carver - Ethereum Foundation
• Martin Swende - Ethereum Foundation

Although ENS has no investors, it is supported by the Ethereum Foundation, Binance_X, Chainlink, Ethereum Classic Labs, and Protocol Labs.

Ethereum Name Service has a one-of-a-kind value proposition due to being the first service that transfers the Domain Name Service to the decentralized Web3.

ENS is not a company but an open-source project that calls itself “an open public utility that belongs to the company.” Essentially, it aims to become a piece of infrastructure as vital to Web3 as the DNS is to the internet. Moreover, ENS does not have a single point of failure thanks to blockchain technology and is, by design, more censorship-resistant and secure.

One of the main obstacles to the mass adoption of blockchain technologies has been their accessibility and ease of use, which ENS aims to remedy. Instead of using machine-readable albeit inconvenient alphanumeric codes, users can receive any crypto or NFT to a short and easy-to-remember link. This simplifies the user experience and makes blockchain technology less technical.

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.

ENS is the governance token of Ethereum Name Service and is used to govern the protocol and influence decisions on pricing its .eth addresses and the price oracle. Token holders can also delegate their tokens to the DAO for voting. The total supply of ENS is 100 million, and the circulating supply is just over 20 million at the time of writing. ENS is distributed as follows:

• DAO Community Treasury (50%): 10% at launch, linear vesting over four years.
• Airdrop to .ETH holders (25%)
• Contributors (25%), with four-year linear vesting including:
• Core Contributors: 18.96%
• Select Integrations: 2.5%
• Future Contributors: 1.25%
• External Contributors: 1.29%
• Launch Advisors: 0.58%
• Keyholders: 0.25%
• Active Discord Users: 0.125%
• Translators: 0.05%

ENS runs on Ethereum, which is secured by a proof-of-work consensus mechanism that requires miners to mine new Ether. A set of decentralized nodes validates transactions and secures the Ethereum blockchain. Thanks to the decentralized nature of Ethereum, and over 10,000 nodes securing the network, ENS does not have a single point of failure and cannot be hacked as such.

Ethereum Name Service has also partnered with different wallets like Coinbase Wallet, Trust Wallet, My Crypto and others.

ENS is available on Binance, OKX, Bitget, Mandala Exchange.

If you want to learn more about how to start buying cryptocurrencies, you can read more in our guide.

The all-time high of ENS was 85.69 USD on 2021-11-11, from which the coin is now down 70.0781888201657%. The all-time high price of Ethereum Name Service (ENS) is 85.69. The current price of ENS is down 70.0781888201657% from its all-time high.

As of , there is currently 34.14M ENS in circulation. ENS has a maximum supply of 0.

The current market cap of ENS is 875.31M. It is calculated by multiplying the current supply of ENS by its real-time market price of 25.64.

The all-time low of ENS was 6.93 , from which the coin is now up 269.98556998557%. The all-time low price of Ethereum Name Service (ENS) is 6.93. The current price of ENS is up 269.98556998557% from its all-time low.

Ethereum Name Service (ENS) has a market capitalization of $875.31M and is ranked #134 on CoinMarketCap. The cryptocurrency market can be highly volatile, so be sure to do your own research (DYOR) and assess your risk tolerance. Additionally, analyze Ethereum Name Service (ENS) price trends and patterns to find the best time to purchase ENS.