ENS is an open and distributed naming system that makes lengthy crypto addresses easy to read and share. It is based on the Ethereum blockchain and works on the same concept of Domain Name Service (DNS) that maps simple website names to their IP addresses.
ENS essentially converts human-readable Ethereum addresses like mark.eth into alphanumeric codes found in your wallets. It was founded by lead developer Nick Johnson and is supported by the Ethereum Foundation.
ENS is a governance token and has a one-of-a-kind value proposition – it makes Ethereum-based web accessible and easy to use. It is the first service to replicate the Domain Name Service of the internet to the decentralized web3. ENS is an open-source project controlled by holders of the ENS governance tokens.
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ENS is the utility token of the ENS ecosystem, also known as Ethereum Name Service. The project makes the decentralized web accessible by converting long crypto addresses into readable names.
3 Cr. ENS
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