The Ethereum Name Service (ENS) is a blockchain-based distributed, open, and extendable name system. ENS translates human readable Ethereum addresses like john.eth into machine-readable alphanumeric codes like Metamask wallets. It is also feasible to convert metadata and machine-readable addresses into human readable Ethereum addresses. The purpose of Ethereum Name Service is to make the Ethereum-based web simpler for humans to access and grasp, in the same way that the Internet's Domain Name Service makes the internet more accessible. ENS, like DNS, employs a system of dot-separated hierarchical names known as domains, with domain owners having complete control over their subdomains.

The Ethereum Name Service (ENS) is based on the same principle as the Domain Name Service (DNS) but is tailored to the demands of Ethereum users. The Ethereum Name Service is a distributed, open, and extendable name system based on the Ethereum blockchain.

History

In November 2021, ENS started with an extremely successful retroactive airdrop that compensated individuals who had registered addresses before the project released its coin. However, in February 2022, it came under fire for allegedly homophobic tweets sent by its head of operations.

ENS was a subsidiary of the Ethereum Foundation until it was split off as a separate entity in 2018. Its Lead Developer is Nick Johnson, a New Zealand-born software developer who has previously worked for Google and the Ethereum Foundation. The ENS team consists of nine individuals, and its treasury is regulated by a 4-7 multi-signature root. Although there are no investors in ENS, the Ethereum Foundation, Binance X, Chainlink, Ethereum Classic Labs, and Protocol Labs all endorse it.

How does it work

Top-level domains like as '.eth' and '.test' are controlled by smart contracts known as Registrars. A registrar is just a smart contract that owns a domain and assigns subdomains to users. Anyone can gain domain ownership for personal use by adhering to the conditions set by these registrar contracts.

The ENS Registry is made out of a single smart contract that keeps track of all domains and subdomains and holds three bits of information about each:

• The owner of the domain.

• Domain resolution.

• The duration of caching for all records in the domain.

Domain owners can be either users or smart contracts, and their roles in the ENS registry can include:

• Set the domain's resolver and TTL.

• Transfer domain ownership to another location.

• Subdomain ownership can be changed.

The ENS registry exists just to map a name to the resolver accountable for it.

Total supply and circulation

Total and maximum supply are 100 million ENS coins, and the circulating supply is 20,244,862 coins.