Ethereum Name Service logo

Ethereum Name Service

ENS

4.4

Price
$17.33
10/6/2022, 7:33:03 AM
diamondHands

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Market

Market stats

Market cap

$350.9M

Volume (24h)

$157.7M

Circulating supply

20.2M ENS

Typical hold time

47 days

Popularity

#56

All time high

$85.69

Price change (1h)

-0.92%

Price change (24h)

+9.82%

Price change (7d)

+12.02%

Trading activity

61% Buy0% Buy
39% Sell100% Sell

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Ethereum Name Service is on the rise this week.

The price of Ethereum Name Service has risen by 12.02% in the past 7 days. The price increased by 9.82% in the last 24 hours. In just the past hour, the price shrunk by 0.92%. The current price is $17.325 per ENS. Ethereum Name Service is 79.78% below the all time high of $85.69.

The current circulating supply is 20,244,862.091 ENS.

About

ENS is an Ethereum token that governs the Ethereum Name Service, a protocol for human-readable crypto addresses and decentralized domain names. ENS will be used to propose and vote for changes to the protocol.

What Is Ethereum Name Service?

Ethereum Name Service is a decentralized and extensible naming system based on the Ethereum blockchain. ENS is deployed to convert human-readable names like “alice.eth” to a machine-readable identifier format such as Ethereum addresses, content hashes, metadata, and other cryptocurrency addresses. In addition, ENS supports the reverse resolution, which makes it possible to associate metadata such as interface descriptions or canonical names with Ethereum addresses.

ENS has goals similar to DNS, the internet’s Domain Name System. But the architecture differs significantly due to the capabilities and constraints provided by the Ethereum blockchain. Like DNS, ENS works on a system of dot-separated hierarchical names called domains (for example, .com and .org). Here, the owner of a domain has complete control over subdomains.

The architecture of ENS has two principal components: the registry and resolvers. The ENS registry uses a single smart contract to maintain a list of all domains and subdomains and stores critical information associated with it, i.e., owner of the domain, resolver of the domain, and caching time-to-live for all records under the domain. In brief, smart contracts are just like regular contracts; however, instead of being drafted on paper, these contracts run in the form of protocols on blockchain. Moreover, these (ENS registry) smart contracts own the top-level domains (like .eth and .test) and specify the rules governing their subdomains' allocation. 

By following the rules set by these registrar contracts, anyone can get ownership of a domain for their use. ENS also allows users to import names that are already owned in DNS for use on ENS. Notably, the domain owner may be an external account (a user) or a smart contract. But a registrar is a smart contract that owns a domain and issues subdomains to users following some set of rules as determined in the contract. The .eth registrar migrated and became an ERC721-compliant non-fungible token (NFT) contract, which means .eth registrations can be transferred similar to those of other NFTs.

Moving to the next component, resolvers are actually involved in the process of translating names into addresses. Any contract that executes the relevant standards can act as a resolver in ENS. 

To summarize, one can easily understand ENS by simply comparing it with DNS. DNS converts website address domain names into Internet Protocol (IP) addresses. ENS also serves the same purpose, but domains are mapped into 42-character Ethereum addresses instead of IP addresses.

The hierarchical structure of ENS enables anyone who owns a domain at any level to configure subdomains for themselves or others as desired. For instance, if X owns alice.eth, they can create pay.alice.eth and configure it as per their wish.

About the governance, the ENS DAO (decentralized autonomous organization) is a DAO that governs the ENS protocol. The Ethereum Name Service token with ticker ENS is the standard ERC20 governance token of the ecosystem. Three governance forums have been created to govern the ecosystem depending on the need. The first one is Venues, discuss.ens.domains, a Discourse forum for governance-related discussion. The second one is Snapshot, a simple voting interface that lets users signal sentiment off-chain. The third one is Governance Portals. Tally is a governance portal that authorizes token holders to delegate their votes and allows delegates to create and vote on binding proposals. Sybil is another such governance portal. 

History of Ethereum Name Service

ENS was started at the Ethereum Foundation in early 2017. Later, ENS spun off with a separate organization in 2018. ENS development is driven by the Singaporean nonprofit True Names Ltd.

Nick Johnson is the founder as well as the lead developer of ENS. He also served as a software engineer in several companies like Ethereum, Google, Lumi, spider.io, smart sparrow, Telogis, Haydrian corporation, and Niche Software Ltd.Johnson is a computer science graduate from the University of Canterbury.

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Social

Ethereum Name Service on social media.

Ethereum Name Service was mentioned in 1,976 out of 1,737,293 social media posts on Twitter and Reddit on Oct 04, 2022. 1,601 unique individuals are talking about Ethereum Name Service and it is ranked #102 in most mentions and activity from collected posts.

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Key indicators

Contributors

1,601 people

Posts

1,976 posts

Dominance

0.11%

Volume rank

#102

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FAQ

What is the current price of Ethereum Name Service?

The price of 1 Ethereum Name Service currently costs $17.33.

What is the market cap of Ethereum Name Service?

The current market cap of Ethereum Name Service is $350.94M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of Ethereum Name Service?

The all-time high of Ethereum Name Service is $85.69. This all-time high is highest price paid for Ethereum Name Service since it was launched.

What is the 24 hour trading volume of Ethereum Name Service?

Over the last 24 hours, the trading volume of Ethereum Name Service is $157.66M.

What other assets are similar to Ethereum Name Service?

Assets that have a similar market cap to Ethereum Name Service include Celo, Bitcoin Gold, DeFiChain, and many others. To see a full list, see our comparable market cap assets.

How many Ethereum Name Service are there?

The current circulating supply of Ethereum Name Service is 20 million.

What is the typical holding time of Ethereum Name Service?

The median time that Coinbase customers hold Ethereum Name Service before selling it or sending it to another account or address is 47 days.

What is the relative popularity of Ethereum Name Service?

Ethereum Name Service ranks 90 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

What is the current trading activity of Ethereum Name Service?

Currently, 61% of Coinbase users are buying Ethereum Name Service. In other words, 61% of Coinbase customers have increased their net position in Ethereum Name Service over the past 24 hours through trading.

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