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Ethereum Name Service or ENS is a service offered by the Ethereum blockchain.
ENS was launched on May 4, 2017 notably by Nick Johnson and Alex Van de Sande, two people who previously worked at Google.
ENS enables the generation of domain names that enhance the user experience (UX) on the blockchain.
ENS is similar to DNS (Domain Name Service) on the Internet.
The domain name identifies a website by linking it to an IP address.
For example, the domain name of https://www.coinhouse.com/ is “coinhouse.com”.
In the same way, ENS enables you to create your own domain name, which you can use on the various applications of the Ethereum blockchain, such as Aave, OpenSea, etc.
These domain names are managed in a decentralized way by smart contracts and stored in NFT on the blockchain.
Instead of having a “.fr” or “.org” extension like on the Internet, these domain names end in “.eth”.
Buying a domain name is easy!
Simply visit the official Ethereum Name Service website.
You can then type in the domain name you want and, if available, see its price.
The value of a domain name varies according to the duration of its acquisition.
The longer the term, the higher the price.
On the other hand, you save on the total price, since you only have to pay once (compared with an annual subscription, for example). Let’s take an example.
Let’s say you want to choose the domain name “luca”.
You’ll see that “luca” is already taken.
On the other hand, “luca2” is available, at a price of 0.0017 ETH (or $5) for a one-year subscription.
To this price, you must also add transaction fees, which vary according to the state of the network.
Launched in November 2021, the ERC-20 ENS token is essentially used for the governance of the DAO in charge of Ethereum Name Service.
By owning ENS tokens, you can participate in votes, but also submit proposals related to the development of the decentralized platform.
View the ENS course here.
Ethereum Name Service makes the blockchain more user-friendly and secure.
In addition to improving UX, ENS helps reduce transaction errors.
How does it work?
A domain name means you don’t have to use your keys during transactions.
A real asset when you consider that a key (blockchain address) is made up of a sequence of 26 to 35 alphanumeric characters!
With ENS, you don’t need to enter each character of your key manually, just enter your Ethereum address (e.g. “luca2.eth”) and you’re done!
ENS also has the advantage of being backed by Ethereum, the leading blockchain for decentralized applications, particularly in DeFi.
What’s more, ENS is pursuing its development to stand out from the ever-growing competition.
For example, ENS offers a service that connects Web2 and Web3.
With its “Fleek” solution, ENS can integrate a classic website directly on the blockchain.
The French crypto leader: Coinhouse is the pioneer of crypto in France.
Drawing on this experience, the platform offers you top-notch, fully secure crypto services. Optimal user experience (UX): Coinhouse developers have created a single-menu interface.
This means you can quickly find the service you need! Customer service located in France: Coinhouse customer service is based in France.
Advisors will answer your questions in French and support you every step of the way. A recognized crypto player: Since 2020, Coinhouse has been a company registered as a Prestataire de Services sur Actifs Numériques (PSAN) with the AMF.
The Coinhouse platform enables you to sell Ethereum Name Service.
All you have to do is log in, click on “Sell” and indicate how many you want to sell.
The funds will be transferred to your account within one to three working days.
ENS token price booms.
In January 2024, the ENS token price exploded from €8.7 on January 1, 2024 to €22 on January 20, 2024.
Over the last 90 days, the ENS token price has exploded by 150% (as of February 26, 2024). Launch of “Gasless DNSSEC” functionality.
With “Gasless DNSSEC” launched at the end of January 2024 following the vote on the EP5.1 proposal, users can now use their DNS domain name on the ENS ecosystem without paying gas fees (“Gasless”). Collaboration between Ethereum Name Service and GoDaddy.
In the wake of “Gasless DNSSEC”, on February 5, 2024 Ethereum Name Service formalized a partnership with GoDaddy, an Internet hosting company.
This partnership enables GoDaddy customers to use their domain name (DNS) on Web3 applications.
€ 15,13-3.6 %
Investing in crypto-assets carries risks of liquidity, volatility, and partial or total capital loss. Crypto-assets held are not covered by deposit and securities guarantee mechanisms.
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