The world is moving toward development and expansion. Around the world, a lot of new technologies are being created to simplify our lives and provide us more possibilities to raise our quality of life.
Let’s examine the meaning and operation of the ENS domains in more detail. There are also many other resources to take into account, such as Why ENS is important. Let’s get started.
Introduction to ENS?
With the help of the Ethereum Name Service (ENS) naming system, people can utilize simple-to-remember domain names as their bitcoin addresses. Later, the protocol converts it into an address that is understandable by machines. We utilize the DNS system for the internet, and this technique is very similar to it. Additionally, it gives consumers a tool that can help them transition into the web3 and unify their online presence.
Working of ENS?
How ENS works is through ERC-721 Non-Fungible Tokens (NFTs) are used in ENS domain names to indicate distinct addresses. By giving the NFT to another party or selling it to them, you can exchange a domain. Each token has a manageable owner and is linked to wallet addresses and other data. A smart contract known as a registrar is the owner of a top-level domain like. Eth and manages the establishment of subdomains.
You can verify the availability of a domain name for Ethereum and rent it for a year. However, well-known names were initially put up for auction. After winning the domain at the highest bid, the winning bidder could add addresses, make sub-domains, and lend or sell their domain name.
Design of the ENS: Registry?
A smart contract that is in responsible of keeping track of all domains and subdomains makes up the ENS registry. In addition, the registry must save three crucial pieces of data in order to keep track of the domains:
- Owner of the domain
- Resolution for the domain
- “Time-to-live” for all of the domain’s entries that are being cached.
Smart contracts and external accounts are both acceptable candidates for domain owners. In essence, a domain is owned by a registrar, which is a smart contract. To users who abide by the terms of the contract, these contracts have the power to grant subdomains. In light of this, the following steps are possible for domain owners to pursue:
- The resolver and TTL of the domain should be specified. Domain ownership should be transferred.
- Modify the domain names’ owners
In addition, the ENS registry is rather simple and serves solely to link a name to the specific resolver in charge of the domain.
Use cases of ENS?
1. As an NFT –
The ER-721 standard is used for domain registration for As an NFT ENS. Briefly, they function quite similarly to NFTs. The same methods can be used to trade, store, and transfer them. These non-fungible tokens can be used for investment purposes as well. How large the secondary market for ENS domain names develops will be interesting to watch. As an illustration, some bullish ENS owners listed Nike.eth and Amazon. Eth for $1 million and $4 million, respectively.
2) Claim a Web 3.0 Username –
When combined with a picture-for-profile NFT, A .eth domain name shows followers that you are active in the web 3.0 or NFT arena. It is easily recognizable to those in the know as a username. Consider it a component of web 3.0 culture. Following the purchase of an ENS domain, you can join forces with:
- web addresses
- Facebook page
- Email address
- Avatar Discord handle
- Telegram handle
It is especially helpful to link an avatar to an ENS domain name. In essence, this step connects an ENS address to a certified picture-for-profile NFT that you possess. Then, on OpenSea and other web 3.0 properties, your avatar shows.
There are many more use cases of ENS which can be found on researching.
Conclusion
A distributed, open, and extendable name system built on the Ethereum blockchain is known as the Ethereum Name Service (ENS). ENS’s job is to convert names that computers can read, such Ethereum addresses, addresses for other cryptocurrencies, content hashes, and metadata, into names that people can’t read, like “Alice. Eth.” The “reverse resolution” feature of ENS enables the association of metadata, such as canonical names or interface descriptions, with Ethereum addresses. We have covered a lot of important stuff related to ENS. I hope this information was useful to you.
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