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Ethereum Name Service (ENS) Price
ENS
$22.88
Market cap
759,499,227.0
Total volume
129,075,975
Circulating supply
33,165,585
Total supply
100,000,000
ENS's primary function is to connect easy-to-remember names like 'alice.eth' with machine-readable identifiers including Ethereum addresses, alternative cryptocurrency addresses, content hashes, and other metadata. Additionally, ENS enables 'reverse resolution', which allows for the linking of metadata - for example, canonical names or interface descriptions - with Ethereum addresses.
While ENS shares common objectives with the Domain Name Service (DNS) of the Internet, it introduces a markedly different structure owing to the unique capabilities and limitations of the Ethereum blockchain. Similar to how DNS works, ENS is based on a hierarchical system of dot-separated names known as domains, where each domain's owner possesses total authority over its subdomains.
Domains at the highest level, such as '.eth' and '.test', are governed by smart contracts known as registrars. These registrars set the rules for how their subdomains are assigned. Adhering to these established guidelines, anyone can secure a domain for their personal use. Furthermore, ENS allows users to bring over their pre-existing DNS names for usage within the ENS framework.
The hierarchical structure of ENS empowers anyone with domain ownership at any level to set up subdomains either for personal use or for others. For example, should Alice be the proprietor of 'alice.eth', she's at liberty to establish 'pay.alice.eth' and customize it as she sees fit.
ENS is operational on the Ethereum central network as well as on various test networks. Utilizing libraries like the ensjs Javascript library, or employing user-facing applications, automatically aligns with the ENS deployment specific to the network you're engaging with.
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