Ethereum Name Service update: ENS Live price, price chart, news and markets

The ENS price update as of now is $18.57. In the previous 24 hours, its trading volume was $73,094,652, and its value has increased by 6.38%. As of now, ENS's live market cap is $665,339,421, and it is ranked as the #109 on the Coincu. ENS has a circulating supply of 100,000,000 and a maximum supply of 100,000,000.

Ethereum Name Service: A Comprehensive Overview

The Ethereum Name Service (ENS) is a revolutionary naming system that operates exclusively on the Ethereum blockchain. Its primary objective is to establish a connection between human-readable names, such as "john.eth," and machine-readable identifiers like Ethereum addresses, content hashes, and metadata. Additionally, ENS provides a unique "reverse solution" enabling users to associate supplementary details with Ethereum addresses, such as canonical names or interface descriptions.

Although ENS shares certain similarities with the conventional Domain Name Service (DNS) employed by the internet, its architecture diverges due to the distinct capabilities and constraints offered by the Ethereum blockchain.

Similar to DNS, ENS employs a hierarchical naming system utilizing dot-separated domains. Domain owners possess complete autonomy over subdomains and can tailor them to align with their preferences.

For instance, if an individual named John possesses the domain "john.eth," he can create the subdomain "pay.john.eth" and personalize it based on his requirements.

Comprehending the Functionality of Ethereum Name Service

The operational framework of Ethereum Name Service revolves around smart contracts called Registrars, which exclusively administer top-level domains like ".eth" and ".test." These Registrars allocate subdomains within their respective domains to users. To acquire ownership of a domain, individuals must adhere to the specified rules and regulations established by these registrar contracts.

To learn more about Ethereum Name Service, please visit our page on ENS Ethereum Name Service.