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Ethereum Name Service

ENS$0.00
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Ethereum: 0xc183...9d72
@ensdomains
ens.domains

Market Cap

697161936
#145

All-Time High

83.4

All-Time Low

6.69

Fully Diluted Valuation

2102064338

Circulating Supply

33165585.054507963 (33.17%)

Total Supply

100000000

Categories

InfrastructureGovernanceNFTEthereum EcosystemName Service

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What is Ethereum Name Service?

The Ethereum Name Service (ENS) functions as a domain naming system within the Ethereum blockchain. This service enables the transformation of the complex, randomly generated combination of letters and numbers in a regular Ethereum address into more familiar words, such as a person's name or a brand title.

In a manner reminiscent of conventional domain name services, ENS operates by making the numerical sequence of an IP address understandable to humans through a readable website name. This simplifies the process of remembering and accessing websites, much like how ENS eases the recognition and utilization of Ethereum addresses.

Recent Video Interview

Main points of the interview:

  • ENS in the Mainstream: ENS names seen widely, including on Twitter profiles and across the internet.
  • Protocol Development: Initial focus on crypto identifiers expanded to broader utility in naming service.
  • Sustainability: Fee structure designed for usability prioritization and protocol sustainability.
  • Protocol Expansion: Looking towards L2 integration and infrastructure maturity for future growth.

The ENS Token

The ENS token plays a vital role in the governance of the ENS decentralized autonomous organization (DAO), which oversees the collective funds of the protocol. ENS token holders have the privilege to present suggestions and participate in voting for choices that shape the administration and prospective evolution of the protocol.

Within the DAO, users possess the ability to cast votes on a variety of matters, which encompass:

  • Executable proposals involving sequences of smart contract actions, such as designating a segment of the available token pool to support a grant geared towards Web3 advancement.
  • Social proposals, conducted off-chain, that pertain to actions like selecting or dismissing a director, member, or supervisor.
  • Constitutional amendments that bring about modifications to how ENS carries out its mission.

Ethereum Name Service Team Background

Originally under the wing of the Ethereum Foundation, ENS embarked on its own path as an independent entity in 2018. Guided by Lead Developer Nick Johnson, a skilled software engineer hailing from New Zealand with prior experience at Google and the Ethereum Foundation, ENS now stands distinct. The ENS team is composed of nine capable individuals, and the management of its treasury is overseen by a 4-7 multi-signature root, featuring 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 does not rely on external investors, it receives support from significant entities such as the Ethereum Foundation, Binance_X, Chainlink, Ethereum Classic Labs, and Protocol Labs. In addition, some of Ethereum Name Service's partners are Unstoppable Domains, Coinbase Wallet, Trust Wallet, My Crypto, 1Inch, 0 Exchange, 3Box Hub...

Ethereum Name Service Project Development

ENS is currently working on:

  • Gas-Efficient DNS Names: An approach that eliminates the need for gas fees when employing DNS names within ENS, utilizing CCIP-Read.
  • Restructured ENSjs: A redesigned, streamlined version of the JavaScript ENS library.
  • Enhanced Development Pipeline: Revisions to the testing process that accelerate the rollout of new features.
  • Integration with Layer 2 Ecosystems: Investigating methods for ENS to interact seamlessly with Layer 2 ecosystems.
  • Ethereum Sign-In Integration (ESII): Incorporation of the ESII standard into the ENS manager.
  • Enhanced Favorites: Reintroduction of an upgraded "favorites" function within the ENS manager.
  • Dark Mode: Introduction of a dark mode option for the ENS manager.

Ethereum Name Service Price Analysis

As of November 24 2024 Ethereum Name Service has a marketcap of $697M. This is {{percentagefromath}} from its all time high of $83.40. In terms of its tokenomics, there's a total supply of 100M with 33% currently outstanding. Keep in mind Ethereum Name Service has a fully diluted value of $2.1B which many investors might interpret as overvalued.

Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.

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