What Is Ethereum Name Service (ENS): The Future of Digital Identity on Web3

Bittime - Ethereum Name Service (ENS) is an innovative solution to address the complexity of wallet addresses on the Ethereum blockchain. The service allows users to convert long and complicated wallet addresses into easy-to-read and remember names.

What is Ethereum Name Service (ENS)?

Ethereum Name Service (ENS) is a decentralized naming service built on the Ethereum blockchain. ENS allows users to convert long and complicated Ethereum wallet addresses into easy-to-read and remember names, such as (budi.eth).

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Ethereum Name Service (ENS) Key Products & Features

• Human Readable Domain Names: Turn complex wallet addresses into easy-to-remember names.
• Subdomains: Create subdomains for websites, email, and other services.
• Decentralized Data Storage: Store data such as TXT records, avatars and IPFS addresses on the blockchain.
• Integration with DApps: Works with various decentralized applications ( DApps ) for easy access and use.

What Are Ethereum Name Service (ENS) Tokens?

Ethereum Name Service (ENS) has a native governance token, $ENS, which is used to:

• Choosing a domain name: Users who own $ENS tokens can participate in the auction process for domain names.
• Managing domain names: $ENS token holders can renew and transfer their domain names.
• Making proposals: $ENS token holders can submit proposals to improve the ENS protocol.
• Voting on proposals: $ENS token holders can vote on proposals to determine the future of ENS.

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Tokenomic Ethereum Name Service (ENS)

• Token: $ENS
• Maximum Supply: 100,000,000 $ENS
• Circulating Supply: 47,481,924 $ENS
• Distribution Mechanism: 25% allocated to the ENS team, 25% allocated to community funding, 50% allocated to public sales.

Analisis Fundamental Ethereum Name Service (ENS)

Sumber: Bittime.com

• Adoption: ENS has been adopted by more than 2.5 million users.
• Integrations: ENS integrates with various DApps and wallet services.
• Community: Ethereum Name Service (ENS) has an active and rapidly growing community.
• Support: ENS is supported by the Ethereum Foundation and several leading organizations in the blockchain industry.

Comparison of Ethereum Name Service (ENS) & Competitors

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Founder & Tim Ethereum Name Service (ENS)

• Nick Johnson: Founder and CEO of ENS.
• Brendan Eich: CTO Ethereum Name Service (ENS) dan pencipta JavaScript.
• Alex Van de Sande: COO ENS.

Expert Opinion About Ethereum Name Service (ENS)

• CoinGecko: "ENS is an important service for the Ethereum ecosystem that helps increase usability and adoption."
• Messari: "Ethereum Name Service (ENS) is a critical infrastructure for web3 that allows users to own their own digital identity."
• LongHash: "ENS is a blockchain project that has huge potential to change the way we interact with the internet."

Kesimpulan Ethereum Name Service (ENS)

Ethereum Name Service (ENS) is a decentralized naming service that is critical to the future of web3. This service allows users to have their own digital identity and access various DApps services easily. ENS has strong fundamentals, a fast-growing community, and support from leading organizations in the blockchain industry .

How to Buy Ethereum Name Service (ENS) on Bittime

You can buy and sell ENS tokens in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappbeti. ENS is available on Bittime with ENS IDR pairing.

To be able to buy ENS/IDR tokens on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of Bittime assets is IDR 10,000. After that, then you can purchase ENS in the application. More Complete Guide on How to Buy ENS on Bittime .

Monitor price chart movements for Ethereum Name Service (ENS) , Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

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DISCLAIMER: This article is informational in nature and is not an offer or solicitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.