Trade ENS with Leverage


Ethereum Name Service (ENS) was introduced on May 4, 2017, by Nick Johnson and Alex Van de Sande from the Ethereum Foundation. Funded by the Ethereum Foundation and supported by a grant from Chainlink, ENS was designed to address the complexity of Ethereum addresses. It converts the cryptographic strings of Ethereum wallets into human-readable names, similar to how the Domain Name System (DNS) operates for the internet, making the blockchain more accessible without replacing DNS. ENS is a decentralized naming system that uses smart contracts for reliability and transparency, aligning with blockchain principles. It includes two main smart contracts: the registry and the resolver. The registry controls domain ownership and links to resolvers that convert domain names into Ethereum addresses, enhancing both usability and security by reducing address input errors. The governance of ENS is conducted by the ENS DAO, which is controlled by ENS token holders. This structure allows token holders to participate in decision-making, emphasizing the protocol's dedication to decentralization and community engagement. To acquire an ENS domain, users can use the ENS app, which simplifies the process of registering domain names, managing sub-domains, and streamlining crypto transactions through an accessible interface. ENS tokens also allow for governance participation and provide investment opportunities within the ENS ecosystem.