Now, let’s talk about when it all started. A smart engineer named Nick Johnson, who works at the Ethereum Foundation, came up with the idea for ENS. On May 4, 2017 he and all the other developers gave it the green light and that’s when ENS was officially released into the digital world.

You might like it: What Is Worldcoin (WLD) ?

How Does It Work ?

In the world of cryptocurrencies, our wallet addresses look like a mix of letters and numbers and they can be really tricky to remember. For example, it could be something like 0x0bh25jg6.

After this confusion, Ethereum Name Service came up with a smart solution. They created ENS technology, which is like a special tool that works on the Ethereum blockchain.

Here’s the cool part: With ENS, you can have a much easier address with .eth extension, like coinmuhendisi.eth.

It’s like having a nickname for your wallet address!

So, instead of dealing with the long and confusing address like 0xC2o0in2uH1e5di, you get to use the simple and memorable coinmuhendisi.eth address. ENS makes payments and transactions super simple and convenient!

How to get Ethereum Name Service (ENS) ?

First, you’ll need an ethereum-based hot wallet. A popular one is called Metamask which works well for this.

If you’re not sure how to send coins to your wallet or do any of these steps, don’t be afraid! We’ve got you covered with a helpful video on our YouTube channel. It’ll guide you through the wallet installation process.

Head over to ens.domains and connect your wallet. Now you can search for the domain name you want to buy.

If your desired domain name is available, you can purchase it for as long as you like.

Keep in mind that domain names with 5 letters or more may have extra fees, so it’s better to choose a simple and short name that suits you.

ENS Token and Economy

ENS Token is all about decentralization, meaning decisions for the project are made by the team and the community together. It works within the Ethereum Name Service Network. If you have ENS Tokens, you get to vote on community initiatives. The more tokens you have, the stronger your voting power.

Now, let’s talk about the ENS Token Economy. There are 100 million tokens in total, but only around 28.6 million are currently circulating.

Here’s how the tokens are distributed:

• 50% in the DAO Community Treasury, with 10% released initially and the rest slowly over four years.
• 25% to .ETH holders, who get tokens through airdrops.
• 25% for contributors, with different amounts going to core supporters, selected integrations, future supporters, external supporters, startup advisors, key holders, active Discord users and translators.

If you want to get your hands on some ENS Coins, you can find them on various big cryptocurrency exchanges. Binance is a popular one and you can even get a discount by using the link provided. There are other exchanges where you can find ENS Coins as well, like Bybit and Bitget.

ENS Browsers

ENS Ecosystem

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