The Ethereum Name Service (ENS) is a decentralized system that links human-readable names, like "example.eth," to machine-readable identifiers, such as Ethereum addresses. This makes it easier for users to interact with the Ethereum blockchain by using simple names instead of long, complicated addresses.
ENS works similarly to the Internet's Domain Name System (DNS) but is built on the Ethereum blockchain. It does not aim to replace DNS but to work alongside it, providing a secure and decentralized way to manage domain names and crypto addresses.
Using ENS, you can register a domain name for a small fee plus Ethereum transaction costs. These domains can be used to receive ETH and ERC20 tokens, making transactions simpler and reducing the risk of errors.
ENS is managed by a decentralized autonomous organization (DAO), which uses the ENS governance token for decision-making. Token holders can submit proposals and vote on the future development of the protocol.
