Ethereum Name Service (ENS)

Ethereum Name Service (ENS) is a decentralized domain name service based on the Ethereum blockchain.
It enables users to transform their complex Ethereum addresses into readable, easy-to-remember domain names, similar to website addresses.
Instead of using a long series of numbers and letters for a wallet address, you can simply use a simple name, like “mywallet.eth”, just like when you type a website address into your browser instead of its IP address. ENS simplifies interaction with Ethereum blockchain addresses. Ranked 74th in terms of market capitalization as at July 9, 2024 (CoinMarketCap information), with a valuation of over $856 million, at a share price of $27.10, ENS is not yet among the giants of the crypto top 100.
This ranking does, however, reveal a potential for growth, particularly if we consider the fluctuations inherent in the crypto-asset market.
Volatility, while representing a risk, can also mean opportunities for investors.
In this context, ENS emerges as a token to consider from the Ethereum universe, offering a unique blend of practical innovation and speculative promise.

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ENS was developed by the Ethereum Foundation and launched in 2017 by Nick Johnson, a renowned developer and pioneer in the blockchain space.
The ENS founding team also includes Brantly Millegan, COO, and Makoto Inoue, lead developer.
Brantly Millegan brought his expertise in decentralized community management, having co-founded the DeSci project.
Makoto Inoue is a well-known open-source contributor to projects such as MetaMask and Ethers.js. In 2021, to make the system more decentralized, control of ENS was transferred to a DAO (decentralized autonomous organization).
Since then, people who own ENS tokens can help make important decisions about how ENS is managed. Current members of the DAO include Brantly Millegan, who continues to operate as COO, as well as prominent figures from the Ethereum ecosystem such as Taylor Monahan, founder of MyCrypto, and key contributor Chris Remus.
The DAO oversees ENS’s technical developments, manages its treasury, and decides on the allocation of funds via a transparent process of proposals and votes that involves token holders.

The process of registering a name on the Ethereum Name Service involves several steps: 1.
Availability check: a smart contract first checks that the desired name is not already in use, using the Namehash (see below).
2. Payment of fees: the user must then pay the associated fees in ETH to register the name (minimum period of one year required).
3. Registration in the ENS register: once payment has been made, the name, together with its Namehash and the user’s address, is entered in the ENS register.
4. ENS name management: the user becomes the owner of the name and can manage it via the decentralized application (DApp) ENS Manager.
When a user enters an ENS name in an application on Ethereum, the application automatically consults a special system to obtain the address linked to this name.
This system is reliable because it is based on the Ethereum blockchain, which is decentralized.
This means that name and address information is not stored on a single company-owned server, but shared across many computers worldwide.
ENS names are therefore secure and operate independently of any central authority.

Ethereum Name Service (ENS) redefines interaction with the blockchain, transforming complexity into simplicity. At the heart of this revolution is the simplification of blockchain addresses, making them more accessible and easier to use, as explained above.
This small revolution considerably reduces input errors, reduces the risk of losing funds and improves the user experience in the DeFi and Web3 universes.
ENS also plays a crucial role in enhancing interoperability between various blockchains and decentralized applications, while giving users full control over their decentralized digital identities.
With its innovative functionalities for identification, certification and transactions, ENS is positioned as an essential pillar of a more open, decentralized and secure Internet.

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ENS is currently developing several projects to expand its ecosystem.
The first is ENS Apps, an open source platform dedicated to the development of DApps. ENS Radio is a decentralized music streaming service using ENS for podcasts. ENS Cloud is also under development.
This is a file storage solution linked directly to ENS domain names.
The Subnames feature is also in the works.
It will enable the creation of third-level domain names, such as wallet.alice.eth.
This will bring greater flexibility to identity management.
The aim of these initiatives is to consolidate ENS’s position as a central element of web3, while diversifying its applications beyond simple address management.

1. Go to your Coinhouse application and log in to your personal space or create your account.
2. Go to the buy/sell section.
3. Select the amount you wish to invest, and the currency of your choice (in this case ENS).
   You can buy ENS tokens with USDC(buy USDC).
4. Once your transaction has been validated, you ‘ll find your ENS in your portfolio.

Coinhouse sees theEthereum Name Service (ENS) as a major breakthrough, and is very confident about its potential influence on the cryptocurrency sector.
By transforming complex blockchain addresses into easily identifiable character strings, ENS facilitates the adoption and use of blockchain technology.
With a capitalization of over $888 million as of July 8, 2024, ENS is heading for a very promising future.
Although ENS is not ranked in the top 100 in terms of market capitalization, we consider that the use of this naming system will democratize which will contribute to increasing the price of the ENS token.