Ethereum Name Service Price
(ENS)
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Ethereum Name Service (ENS) Live Price Chart
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Ethereum Name Service Live Price Data
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Ethereum Name Service(ENS) Profile
Rank108
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Ethereum 0xC18360...D72Solana CLQsDGoG...zAg
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Investors
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$15.490
$16.170
$85.680
-1.31%
+0.86%
+17.29%
$490.45M
$317,509
31,179,101
100,000,000
About ENS
How can I buy Ethereum Name Service (ENS)?
What Is Ethereum Name Service (ENS) Crypto?
The Ethereum Name Service (ENS) is a decentralized, open-source blockchain naming protocol built on the Ethereum network. This innovative service allows users to convert complex cryptocurrency addresses, names of crypto projects, and profiles, including wallets, websites, and decentralized applications (dApps), into human-readable names. Its technology is revolutionary in simplifying crypto interactions and plays a pivotal role in enhancing the user experience in the blockchain ecosystem.
The ENS service’s integration with major crypto wallets, dApps, and browsers marks its significance in the cryptocurrency domain. The service isn't limited to creating new blockchain-native decentralized websites; users can also import existing DNS domain names and manage them seamlessly through an Ethereum account. This feature is handy for those looking to have a unified presence across both traditional and blockchain-based internet.
Like the internet's Domain Name Service (DNS), which translates complex IP addresses into simple, branded website names, the Ethereum Name Service transforms lengthy crypto addresses into easily recognizable and memorable URLs. These user-friendly addresses significantly reduce the risk of transaction errors and enhance brand visibility within the crypto space.
The primary domain extension offered by ENS is .ETH, assuring users of robust security inherent to blockchain technology. However, ENS's versatility extends to traditional DNS domains, allowing users to integrate their .com, .org, .io, and other domains with the service.
How Does Ethereum Name Service Work?
The Ethereum Name Service (ENS) operates through two key smart contracts: the ENS registry and the Resolver. The ENS registry records domain names, while the Resolver translates these domain names into machine-readable identifiers and vice versa. As of the latest updates, ENS has broadened its compatibility, now supporting several crypto-friendly web browsers like Brave, Opera, MetaMask Mobile, and Puma. Furthermore, mainstream browsers such as Google Chrome and Safari have also begun integrating ENS, enhancing its accessibility to a broader audience.
ENS's functionality extends to launching decentralized websites using IPFS technology, which stores data in a distributed manner on the blockchain. This technology enables the creation and management of censorship-resistant, decentralized websites accessible via ENS names. With the growing adoption of Web 3.0, the demand for ENS technology has surged, offering users a unique ID for seamless interaction across decentralized applications.
For the crypto and Web3 community, ENS offers significant benefits. It allows users to create a customized username, store avatars and profiles in a decentralized manner, and utilize this decentralized identity across various Web3 applications and blockchain dApps. This feature is particularly valuable for enhancing user experience and privacy in the digital space.
Governance of the Ethereum Name Service is maintained through true decentralization, managed by the ENS DAO (Decentralized Autonomous Organization). The ENS crypto, an ERC-20 token on the Ethereum network, serves as the governance token of this DAO.
Recent developments in ENS include the introduction of ENS staking, adding another layer of engagement and potential reward for its users. The ENS market, including the ENS coin price and ENS domain price, offers insightful metrics for those interested in buying ENS or engaging with its services. The ENS token price and ENS crypto price are vital indicators of its market position and investor interest.
Who Created Ethereum Name Service?
Launched on May 4, 2017, the Ethereum Name Service (ENS) has become the most globally integrated blockchain naming standard. Conceived in April 2016 by co-founders Nick Johnson from the Ethereum Foundation and Alex Van de Sande, ENS aimed to create a blockchain equivalent of the traditional Domain Name Service (DNS) using ERC-721 non-fungible tokens (NFTs) for domain name assignments.
In May 2018, Johnson received $1 million in funding, leading to the establishment of True Names LTD in Singapore for ENS's development and expansion. A significant milestone was the formation of the ENS DAO in November 2021, bringing full decentralization to ENS. The launch of the ENS token and subsequent airdrop, allocating 25% of the total supply to service users, was a crucial part of this transition, with the ENS Foundation in the Cayman Islands representing the DAO's legal entity.
In 2023, the Ethereum Name Service (ENS) underwent several significant developments. The ENS token's price surged by 55% following an endorsement from Ethereum co-founder Vitalik Buterin, who stressed the importance of ENS and encouraged layer-2 networks to concentrate on trustless, merkle-proof-based Cross-Chain Interoperability Protocol (CCIP) resolvers. The $ENS price increase was remarkable as it contradicted the broader crypto market trend.
ENS also announced plans to implement Ethereum Layer 2 interoperability with ENS domains to enhance scalability and reduce costs by processing transactions off the main Ethereum blockchain. This involves using off-chain resolvers with an ENS off-chain registrar contract and partnering with various service providers, making domain name registrations and transactions more efficient. Additionally, ENS introduced a gasless feature to import the web naming protocol, DNS, into ENS, aiming to improve web accessibility to the ENS ecosystem and reduce the entry barrier for traditional internet users, thereby simplifying onboarding and expanding Ethereum and crypto accessibility.
What Is ENS Token Used for?
The $ENS crypto serves various functions in the ENS ecosystem:
1. Governance Token of ENS DAO: ENS DAO administers the Ethereum Name Service, with its community members comprising ENS token holders. By holding ENS tokens, you become a part of the ENS community, allowing you to propose and vote on decisions that guide the future development of this decentralized naming system. This feature underscores the democratic, community-driven approach of ENS.
2. Crypto Asset for Investment and Trading: The ENS token is a compelling digital asset for investment and crypto trading. Interested investors can buy or sell ENS against other cryptocurrencies on the KuCoin Spot Market. It's crucial to stay informed about the latest Ethereum Name Service price, ENS market cap, circulating supply, and 24-hour trading volume. Performing technical, sentiment, and fundamental analysis on the ENS price chart before engaging in trading activities is recommended.
3. Earning Passive Income: ENS token holders can earn passive income. One way to grow your crypto holdings is by staking your ENS tokens on supported platforms. Staking involves locking up your tokens for a certain period to help maintain the network, earning rewards in return. Additionally, lending your ENS tokens on platforms like KuCoin Crypto Lending can yield daily interest over various periods (7, 14, or 28 days), providing a convenient way to generate income from your holdings.
Ethereum Name Service (ENS) Price Movements ($)
| Period | Change | Change (%) |
|---|---|---|
| Today | $0.175 | 1.13% |
| 7 Days | $2.34 | 17.60% |
| 30 Days | $-6.21 | -28.38% |
| 3 Months | $-7.38 | -32.03% |
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FAQ
How much is 1 Ethereum Name Service (ENS) worth?KuCoin provides real-time USD price updates for Ethereum Name Service (ENS). Ethereum Name Service price is affected by supply and demand, as well as market sentiment. Use the KuCoin Calculator to obtain real-time ENS to USD exchange rates.
Is Ethereum Name Service (ENS) a Good Investment?
The Ethereum Name Service (ENS) crypto presents a notable investment opportunity, especially with the rising adoption of Web3 technologies. As Web3 grows, the demand for services like ENS, which facilitates the creation of user-friendly Web3 usernames and profiles, will likely increase. This potential growth in usage could positively influence the ENS token price, making it an appealing addition to investment portfolios.
The adoption of Ethereum Name Service by both crypto enthusiasts and Web3 users is a key factor that could drive up the ENS price. The integration of ENS in more Web3 projects and decentralized websites, utilizing its blockchain naming standard, may further boost its market value. As these applications become more widespread, the utility and, consequently, the value of the ENS token are expected to rise.
Market sentiment towards cryptocurrencies also plays a critical role in the valuation of digital assets like ENS. A positive investment climate generally leads to increased buying interest, potentially elevating the price of ENS and other digital assets. Investors must stay updated on market trends and sentiments, which can significantly affect investment outcomes.
Moreover, innovation within the Web3 and decentralized space is another factor that could impact the ENS price. ENS's service converts complex cryptocurrency addresses into user-friendly, human-readable names, a significant innovation in the crypto market. As the need for such convenient services grows, the widespread adoption of ENS will likely enhance the value of the Ethereum Name Service token in the long term.
What Is Ethereum Name Service Price Prediction?
Although we cannot provide a precise ENS price prediction over any duration, you could observe the following factors to gain a better understanding of the price changes in $ENS coin:
1. Level of Adoption and Usage of Ethereum Name Service
The more the ENS platform is adopted for creating and managing decentralized domain names, the higher the potential demand for the ENS token. Increased usage by both individual users and organizations, particularly in registering and managing .ETH domains and other supported names, can drive up the Ethereum Name Service price.
2. Market Sentiment in the Crypto Space
Like other cryptocurrencies, the ENS token price is influenced by the overall sentiment in the crypto market. Bullish trends across the broader market often lead to increased investment in various tokens, including ENS.
3. Development and Updates to the ENS Platform
Any significant updates, improvements, or new features added to the ENS platform can affect the $ENS price. Innovations that enhance the platform's usability or expand its capabilities can attract more users and investors, potentially driving up the ENS to USD price.
4. Ethereum Name Service Integration with Other Platforms and Services
The extent of ENS's integration with popular wallets, browsers, and other blockchain services can impact the Ethereum Name Service value. Greater integration generally means increased visibility and usability, which can lead to higher demand for the token.
5. ENS DAO’s Governance and Community Decisions
Being a governance token, decisions made by the ENS community can influence the ENS crypto price. Proposals and votes on changes to the platform or its policies can affect investor confidence and, consequently, the $ENS token price.
How Much Does it Cost to Get an ENS Domain?
The cost of registering an ENS domain varies based on the length of the domain name. As per the latest information available:
> For domain names that are five characters or longer, the registration fee is $5 per year.
> Domain names with four characters cost $160 per year.
> For three-character domain names, the cost is $640 per year.
These fees are payable in ETH, and it's important to note that when renewing your ENS name, you must also pay an Ethereum gas fee to process the transaction. The pricing for shorter names is higher due to the limited availability of these names.
In addition to registering directly via the Ethereum Name Service platform, ENS domains can also be bought and sold on NFT marketplaces like OpenSea. Here, you might find a broader range of prices for ENS domains, as they are often resold by individuals or entities who have registered them previously.
ENS vs. DNS: Difference Between Ethereum Name Service and Domain Name Service
The Ethereum Name Service (ENS) and the Domain Name Service (DNS) both serve as naming systems in the digital world, but they cater to different aspects of web technology. Here are some key differences:
Web2 vs. Web3
DNS operates within the Web2 framework, primarily used for mapping IP addresses to human-readable domain names for websites and email addresses. On the other hand, ENS is a cornerstone of the Web3 movement, mapping Ethereum-based crypto addresses to readable strings akin to URLs. ENS extends its utility to creating user-friendly names for crypto wallets, decentralized websites, and Web3 applications.
Centralized vs. Decentralized Systems
DNS is a centralized system relying on servers controlled by specific organizations or entities. This centralization can lead to vulnerabilities, such as a single point of failure. Conversely, ENS operates on a decentralized model, utilizing the Ethereum blockchain. This decentralized verification process enhances security and resilience, reducing the risks associated with central points of failure.
Governance and Control
Centralized entities, including governments and corporations, typically oversee the governance model in DNS. In contrast, ENS adopts a decentralized governance approach, with the ENS DAO playing a pivotal role. The ENS token holders can participate in governance decisions, influencing the direction and policies of the ENS.
Technology and Integration
ENS leverages blockchain technology, bringing unique features like NFT compatibility and integration with dApps. As an older technology, DNS is well-integrated into traditional internet services but lacks blockchain features.
Domain Pricing and Availability
The blockchain ecosystem influences the ENS domain price and can vary based on demand, domain length, and market conditions. On the other hand, DNS domain pricing is typically more stable and standardized, governed by traditional domain registrars.
How to Get an ENS Domain
ENS domains are ERC-721 standard, allowing them to be treated like NFTs, meaning you can buy, trade, or sell them. To get an ENS domain in 2023, follow these steps:
1. Open a browser that supports Ethereum, such as Chrome, with the MetaMask extension.
2. Visit the ENS domains website.
3. Search for the desired ENS domain name; it will automatically include the ".eth" top-level domain.
4. If the domain name is available, you can register it by paying for the desired number of years.
5. Connect your ETH wallet to complete the transaction and pay the registration fee.
6. After the ENS app confirms the registration, you can start using your ENS domain.
What is the all-time high price of Ethereum Name Service (ENS)?
The all-time high price of Ethereum Name Service (ENS) is $85.680. The current price of ENS is down 0.82% from its all-time high.
What is the all-time low price of Ethereum Name Service (ENS)?
The all-time low price of Ethereum Name Service (ENS) is $6.690. The current price of ENS is up 1.34% from its all-time low.
How much Ethereum Name Service (ENS) is there in circulation?
As of 4 23, 2024, there is currently 31,179,101 ENS in circulation. ENS has a maximum supply of 100,000,000.
What is the market cap of Ethereum Name Service (ENS)?
The current market cap of ENS is $490.45M. It is calculated by multiplying the current supply of ENS by its real-time market price of $490.45M.
How do I store Ethereum Name Service (ENS)?
You can securely store your Ethereum Name Service in the custodial wallet on the KuCoin exchange without having to worry about managing your private keys. Other ways to store your ENS include using a self-custody wallet (on a web browser, mobile device, or desktop/laptop computer), a hardware wallet, a third-party crypto custody service, or a paper wallet.
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2024-04-24 01:10:44 (UTC+8)
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