Browsing the internet for various purposes is no easy task, especially cryptocurrency-related. Typing an IP address with a string of jumbled numbers with some alphabet is not easy for internet users, but it is simple for the computer system to follow. Then some human-readable IP address bars to allow easy surfing emerged, and some dedicated IP addresses for cryptocurrency came along.
Here, the Ethereum name service jumps in. Although it is still in the initial IP address phase, the interface has become more manageable, and the users can now surf cryptocurrency websites easily.
Ethereum Name Service: Introduction
As the name states, ENS is a unique coding system that links crypto information to a particular name. It is the most secure and decentralized way to get a human-readable IP address.
You will see that the ENS is quite similar to the internet domain name service system. Here, just the architecture of the websites is different due to the ethereum and blockchain capabilities. Moreover, you have to buy the domain name of ENS like other domain name services to get started if you own or want to start a company.
How does it work?
You can buy the ENS through Bitcoin Revolution with Ethereum or NFTs, non-fungible tokens. After purchasing the ENS, you will get a unique address with all the subdomains nominated to your registered name. If you are unhappy with the domain you purchased, you can sell or transfer it to other users with the help of NFTs.
Furthermore, all domains come with a crypto wallet to get you started, and the same wallet will go to the new owner upon selling. This smart contract is quite valuable as you will get a personalized domain.
Moreover, you can rent the domain if you do not want to purchase it. Some popular domain names with addresses are often in auctions that you can have a look for.
What to do with the Ethereum Name Service System?
Many benefits come along with this service. Some are given below to get started and better understand the functions.
- The first thing to do is to replace your extended versions of domain names with simpler ones in the ENS system. Here, you will have a user-friendly and memorable ENS address for all.
- Secondly, since this system is based on a decentralized web, you can access a vast file storage system that you can sync with crypto wallets. It will also give you prompt access to the directory of decentralized websites of other crypto users.
- Thirdly, the ENS allows users to merge other popular domain names such as org, .com or .edu. This way, you can link the two domains to send the visitor to the eth page to view content and do transactions.
What makes ENS different from Domain Name System (DMS)?
The fact that both ENS and DMS use centralized protocols to perform a finite set of tasks is one thing they have in common.
The major difference that differentiate ENS and DNS:
- User with ENS will have no ownership, which means they will have nothing to prove that they are the genuine owners of the particular ENS. This is because ENS are based on smart contracts.
- ENS registrations are automatic.
- It provides the users in the chain with no option to alter the information.
The reliable network is one of the main benefits of adopting ENS. Unlike DNS, where each level of the hierarchy must trust the level above it, the entire network is built on a hierarchical level. Given that any level will eventually have a break, the owner is helpless to rectify the problem. In contrast, there is no hierarchy level in ENS. There is no need for a data block when querying the data in the ENS.
To sum up
The world is full of decentralized web networks. Currently, ENS is a positive step toward the blockchain world as the users do not have to remember the long IP addresses.
Moreover, you can navigate easily, and the users can have a more specific IP address to display on the financial, social media and various blockchains network. This system has triggered the interest of many novice people as approaching crypto-related websites has become more manageable.