Introducing Crypto Domains - ENS (Ethereum name services)
Have you ever wondered, if there is a way to avoid using the public address of a wallet as a key?
Have you ever wondered, if there is a way to avoid using the public address of a wallet as a key?
Moreover, make it more personalized.
There is a way to implement it and is called ENS.
Agenda:
- Intro,
- Definition,
- Structure,
- How to buy it?
- Conclusion.
Definition
The ENS is an Ethereum domain name protocol, which is decentralized and built on the Ethereum blockchain.
In simple words, it allows the creation of a simple username which is connected with wallet addresses and decentralized websites.
These Ethereum domain names are very similar to web2 ones. The main difference is that they are sold as NFTs. What it makes hosted in the blockchain.
Structure
ENS is created via a smart contract, which defines how long it is valid, who owns that and what names it has. It is proceeded by process called registration.
This the approach allows for easy transfers of ownership, paid with crypto immediately.
ENS looks like the following:
pay.eth — it is the representation of a public address, for example, 0x687….7
Like in standard domains, which are changing IP address into readable names, ENS changes wallet address, with .eth in the end.
Moreover, it is possible to make subdomains, to have needed configurations, like:
name.pay.eth, quick.pay.eth, etc.
These names are equally created as lowercase, because of the namehash algorithm. This algorithm transforms a name into a hash.
How to buy it?
Below are presented steps to follow, so that ens can be bought:
- Open crypto wallet and get Eth on it.
- Navigate to ens manager, for example:
- Search desired name.
- Select period.
- Start registration & pay.
- Set a resolver.
- Bind old address to new ens one.
Conclusion
ENS is a latest technology which makes web3 world easier to follow and interact within it. Instead of using long complex strings as public address of a wallet, it is more human friendly to use names.
Making transactions by for example, typing name.eth is super easy, that’s why it is so powerful. This technology is a real help to people who are paid for the services with cryptocurrencies.
