Ethereum Name Service Price ENS-INR

Based on the Ethereum blockchain, the Ethereum Name Service is a decentralized and extensible naming system. ENS is used to translate names that humans can read, such as alice.eth, into formats that computers can understand, like Ethereum addresses, content hashes, metadata, and addresses for other cryptocurrencies. Additionally, ENS allows the reverse resolution, making it feasible to link canonical names or interface descriptions to Ethereum addresses.

What is Ethereum Name Service (ENS) Coin?

Based on the Ethereum blockchain, the Ethereum Name Service (ENS) is a distributed, open, and extendable naming system. ENS transforms machine-readable alphanumeric codes you are familiar with from wallets like Metamask into human-readable Ethereum addresses like john. eth. It is also feasible to perform the opposite conversion, linking machine-readable addresses and information to human-readable Ethereum addresses.

Similar to how the Internet's Domain Name Service makes the internet more accessible, the purpose of Ethereum Name Service is to make Ethereum-based online easier for humans to access and understand. Unlike DNS, ENS also has a system of domains—dot-separated hierarchical names—with domain owners having complete control over their subdomains.

Who created Ethereum Name Service Coin?

ENS was previously a part of the Ethereum Foundation; however, it separated into an independent entity in 2018. Nick Johnson, a software engineer from New Zealand who has previously worked at Google and the Ethereum Foundation, is the project's lead developer.

How does ENS Token Work?

Two Ethereum smart contracts serve as the foundation of ENS. The first smart contract is the ENS registry, which keeps track of all domain names registered on ENS and contains three important data about each domain: the owner of the domain, its resolver, and the amount of time that all entries under the domain have been stored. It converts domain names into machine-readable addresses and vice versa. The resolver is the second smart contract. This second smart contract links each domain to the relevant user, website, or location.

Visitors to the ENS app can begin by looking for a domain name that is currently accessible before creating their Web3 account. Once you've found one, all that's left to do is complete the registration procedure, which includes authorizing two transactions from your wallet and paying the annual fee of $5 for names longer than five characters. Once you have the domain, you may connect it to your websites, cryptocurrency wallets, and multiple subdomains, such as email.rick.eth or website.rick.eth, all of which are linked under the same ENS domain.