Ethereum Name Service (ENS) Explained in 6 Easy Steps

Ethereum Name Service (ENS) is a blockchain-based, distributed, and expandable network naming protocol. Its native token is called ENS.

1.When was it founded and by whom?

Ethereum Name Service was created on April 4th, 2016 by the engineer Nick Johnson, who worked as a developer in Ethereum Foundation. Upon the approval of all developers, it was launched into the market on May 4th, 2017. Currently, the development activities of ENS was undertaken by True Names LTD, a non-profit organization.

2.ENS’s infrastructure

ENS is similar to the domain name system (DNS) on the World Wide Web and runs on the Ethereum network.

3.What does it offer to users?

ENS undertakes the task of matching with machine-readable identifiers such as domain names, addresses, various cryptocurrency addresses, and metadata on the Ethereum network. The rules of the system are protected by smart contracts and everyone can get a domain name of its own within the framework of these rules. A wallet or a domain name address may be added to this domain.

4.Can ENS be mined?

ENS is not a type of token that allows mining activities.

5.All-time low, all-time high (ATH), and total supply

ENS’s all-time low price was $22.92 on November 9th, 2021 while all-time high price was $85.69 on November 11th, 2021. Circulating supply of the cryptocurrency is 14,566,540 ENS and the total supply is 100,000,000 ENS.

6.How to trade ENS on Paribu?

By clicking on the link, you can instantly trade ENS.

Bu içerik en son 26 October 2022 tarihinde güncellenmiştir.


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