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Ethereum Name Service (ENS) is a naming system built on the Ethereum blockchain that transforms human-readable Ethereum addresses into dot-separated hierarchical names called domains. This makes the Ethereum-based web easier to access and interact with, similar to the internet’s domain name service. ENS allows users to register and manage domains registered on ENS, providing a decentralized alternative to traditional domain name services.
This coin is available on Newton.
ENS operates using a system of dot-separated hierarchical names, where domain owners have full control over their registered names. The ENS registry records these names and their associated Ethereum addresses. ENS also supports additional functionalities, including linking domains to decentralized websites and integrating with various crypto wallets and applications.
The project launched its token as part of a retroactive airdrop in November 2021, allowing early adopters to participate in governance. The ENS coin price fluctuates based on market demand, with real-time data available on live Ethereum Name Service price charts. Users can track the price of ENS, its price change, and the highest price paid for Ethereum Name Service since its launch through live charts and crypto price trackers.
The current market cap of Ethereum Name Service depends on the circulating supply of ENS, which influences its overall valuation. The supply of ENS and its trading activity in the last 24 hours determine the price per ENS with a 24-hour trading volume. Investors interested in buying Ethereum Name Service can check Ethereum Name Service in Canada or other markets where it is tradable on the market today.
ENS was founded by Nick Johnson and Alex Van de Sande, both previously associated with Google and the Ethereum Foundation. Unlike centralized entities, ENS is not a company but a decentralized protocol governed by its community. The market cap to Ethereum Name Service and its cap to Ethereum Name Service continue to evolve, reflecting its adoption in the crypto ecosystem.
Ethereum Name Service (ENS) operates similarly to the traditional Domain Name System (DNS), but it is designed specifically for blockchain applications. Both systems use names called domains with domain owners, following a dot-separated structure. In ENS, registrars manage top-level domains like .eth, setting the conditions for subdomain creation. Users who follow these conditions can register ENS names and even link them to domains they already own.
One of the key advantages of ENS is that it allows domain holders complete control over their subdomains. For instance, if someone owns Josiah.eth, they can create pay.Josiah.eth for transactions or organizational purposes. This feature makes Ethereum Name Service easier to access and comprehend, enabling domain owners to customize and manage their names. The decentralized structure prevents any single entity from having full control over ENS operations.
At the core of ENS is the registry, which maintains essential information about ENS names. It records details such as the domain owner, assigned resolver, and Time-to-Live (TTL) settings. The registry enables domain owners to transfer ownership, set resolvers, and configure subdomains based on their preferences. Since ENS operates on Ethereum, smart contracts play a vital role in managing domain interactions.
Another key component is resolvers, which are responsible for mapping ENS names to blockchain addresses. Any smart contract that meets the necessary conditions can act as a resolver. Different identifier types, such as wallet addresses, have specific rules that resolvers follow to provide accurate data. This system allows for seamless updates and integration of new identifiers when needed.
The process of resolving an ENS name involves two key steps. First, a query is sent to the registry to identify the resolver linked to a specific ENS name. Once identified, the resolver translates the ENS name into the corresponding blockchain address. By using Ethereum Name Service, users can replace complex wallet addresses with readable names, making blockchain transactions more straightforward.
The Ethereum Name Service (ENS) is a decentralized domain name system built on the Ethereum blockchain, designed to simplify interactions with Ethereum addresses. Here’s what it’s used for:
The price of 1 ENS can be tracked on several platforms that provide real-time cryptocurrency data. Here's where you can check:
The Ethereum Name Service is valued based on various factors in the market. Here are the key elements that influence its valuation:
Ethereum Name Service has a market cap that reflects its position in the broader cryptocurrency market. Here's an outline of what this means:
Ethereum Name Service is currently used to simplify cryptocurrency transactions by replacing long and complex wallet addresses with human-readable names. Instead of copying and pasting lengthy addresses, users can register on ENS and store their crypto addresses under a single domain. This makes transactions easier to access and comprehend while reducing the risk of errors.
ENS also uses a system that allows multiple cryptocurrency addresses to be linked to one domain. This means that Ethereum Name Service enables users to manage various wallets for different cryptocurrencies or NFTs under a single name. The supply of Ethereum Name Service makes it easier to interact across multiple blockchain networks without handling multiple addresses.
Beyond crypto transactions, ENS functions as a decentralized web address system. When a domain registered on ENS is entered in a browser, it can direct users to a website, just like traditional domains. This name service is currently available for use with decentralized websites, such as those hosted on the InterPlanetary File System (IPFS), allowing for censorship-resistant and blockchain-based web hosting.
Ethereum Name Service ranks among the key solutions for Web3 identity by allowing users to link their ENS domains to online profiles. A single ENS domain can connect to personal websites, LinkedIn, GitHub, and other platforms, making it a unified digital identity. This integration enhances usability by consolidating different online services into one name.
ENS crypto also plays a role in the cryptocurrency market, with its price history reflecting market trends. The current circulating supply of Ethereum Name Service influences its valuation, and while some remain neutral about Ethereum Name Service, its adoption continues to grow. Just as the financial ombudsman service resolves traditional finance issues, ENS aims to improve blockchain accessibility and usability.
Ethereum Name Service (ENS) was first conceived in April 2016 by Nick Johnson and a team from the Ethereum Foundation. The development of ENS continued until its official launch on May 4, 2017. ENS aims to make Ethereum addresses more user-friendly by replacing long strings with readable names, simplifying blockchain interactions.
In May 2020, Ethereum Name Service received significant support through a grant from the Ethereum Foundation. This funding allowed Nick Johnson to establish True Names Ltd., later renamed ENS Labs Ltd., in Singapore. The company worked to enhance the development of ENS and its adoption within the Ethereum ecosystem.
Since its launch, Ethereum Name Service has seen fluctuations in its adoption and overall market presence. In November 2021, ENS took significant steps toward decentralization by forming the ENS DAO. This move empowered the community with governance through an airdrop of ENS tokens, allowing users to participate in the service’s future development.
ENS's transition to a decentralized governance model was marked by the implementation of an on-chain structure. This structure made it possible for the community to engage in decision-making, either by directly voting or delegating governance power. Ethereum Name Service has grown its role in the broader decentralized web through this approach.
To solidify its position legally, Ethereum Name Service incorporated the ENS Foundation in the Cayman Islands. This organization serves as the legal representative for the ENS DAO. The creation of the foundation aligns with ENS’s long-term goal of establishing itself as a key player in the decentralized domain name space.
Ethereum Name Service price history is shaped by various factors in the cryptocurrency space. Here’s a look at its price history:
The all-time high of Ethereum Name Service represents the highest value the token has ever reached. Here are the key points:
Tracking live Ethereum Name Service price charts and price history in Canada is possible with various platforms. Here's how to do it:
Ethereum Name Service (ENS) can be stored on regulated platforms like Newton or in a personal wallet. Keeping track of market trends and the availability of ENS domains can provide insight into its role in the broader cryptocurrency ecosystem.
While ENS itself is not a proof-of-stake token, governance participation is possible through the ENS DAO. Holding ENS tokens allows users to vote on proposals that shape the future of the network, contributing to its decentralized decision-making process.
Ethereum Name Service (ENS) can be used within the Web3 ecosystem, including decentralized applications (dApps) and blockchain services. Checking for platforms and services that integrate ENS can help determine its utility in transactions
The Ethereum Name Service allows for simplified crypto transactions by linking wallet addresses to human-readable domain names. Sending ENS involves entering the recipient's domain name or wallet address, with transaction speed and fees varying based on network conditions.
Some organizations accept Ethereum Name Service (ENS) tokens as a form of donation. Sending ENS to a recipient’s wallet address offers a direct and blockchain-based way to contribute, depending on the platform’s compatibility with ENS.
Swapping ENS for other cryptocurrencies, such as Ethereum or stablecoins, is available on some regulated exchanges. These platforms provide an option to exchange ENS for different digital assets, allowing for flexibility in portfolio management.
*Newton does not currently support staking, governance, interest-earning, or other utility functions, where applicable, for this asset.
Buying ENS through private transactions or unregulated sources comes with certain risks. Without the structure of a regulated platform, verifying a seller’s legitimacy can be difficult, increasing the chance of fraudulent or misleading transactions. The lack of oversight means buyers need to carefully assess this option before proceeding.
Regulated platforms like Newton provide an organized environment for purchasing ENS. With payment options such as e-Transfers and wire transfers, these platforms offer a straightforward way to complete transactions. Features like real-time price tracking, market data, and access to various cryptocurrencies allow users to make informed financial choices.
Staying on top of market trends is key, and Newton makes it easy with real-time pricing updates for Ethereum Name Service (ENS). With up-to-the-minute buy and sell rates, you can make informed decisions and take advantage of market shifts as they happen.
Keeping your digital assets safe is a priority. Newton provides multi-factor authentication, login activity tracking, and anti-phishing codes to help protect your account. You can also manage trusted devices, giving you greater control over your security.
Newton makes it affordable to buy and sell ENS, with a 1.50% - 1.60% fee. For more information about fees, see our Prices page. Newton covers up to $5 of network fees on your first daily withdrawal. For additional withdrawals, or if network fees exceed $5, the estimated network fee is confirmed prior to withdrawal.
Your portfolio should be as mobile as you are. With Newton available on both desktop and mobile, you can check balances, follow market trends, and trade ENS from anywhere, anytime.
Newton’s platform is designed to keep things simple. Whether you're tracking live ENS prices, reviewing transactions, or managing your portfolio, everything is laid out for an easy and efficient trading experience.
Built for Canadians, Newton offers a trusted platform for trading ENS and other digital assets. Whether you're just starting out or have years of experience, you’ll find a local and reliable space to buy, sell, and manage your cryptocurrency.
Your journey with Ethereum Name Service (ENS) on Newton starts with creating an account. The process is simple—register, complete identity verification, and gain access to the platform’s cryptocurrency trading features.
Before purchasing ENS, you’ll need to add funds to your account. Newton supports CAD deposits via Interac e-Transfer and wire transfer, guiding you through the process to make it quick and seamless.
Once your account is funded, you’re ready to buy ENS. Newton provides real-time price charts so you can check the current market value before making your purchase.
Finding ENS on Newton is straightforward. It’s listed alongside other major cryptocurrencies like Bitcoin and Ethereum, making it easy to access within the platform’s supported assets.
Decide how much ENS you want to buy by entering a specific number of tokens or their equivalent value in CAD. The platform gives you the flexibility to adjust the amount to fit your needs.
Take a moment to review your transaction details before finalizing. Once confirmed, ENS will be credited to your account, ready to be held, traded, or managed however you choose.
Holding Ethereum Name Service (ENS) in a personal wallet puts you in complete custody of your assets. Access is managed through private keys, giving you full control, but with that control comes responsibility. If your keys are lost, recovering your ENS may not be possible, making secure storage a crucial part of managing your holdings.
You can store your ENS straight on your Newton account if you prefer a secure and hassle-free option and added protection. With multi-factor authentication, login history tracking, and anti-phishing measures, Newton offers a safeguarded environment. Features like trusted device management add another layer of security, helping you keep your assets safe while staying connected to the market.
Your security is important. Newton is committed to being a leader in compliance, security, and technical protocols.
For additional information and to review the risks associated with Ethereum Name Service, please see our Asset Statement.
