Buying Ethereum Name Service (ENS) is easy!

Why buy Ethereum Name Service (ENS)

Consider buying in Ethereum Name Service (ENS) as blockchain domains are expected to play a crucial role in the development of Web3. These domains empower you to link your digital identity to a website, wallet, or social profile. With Ethereum Name Service, you can use a domain with the suffix ‘.eth’ instead of a long alphanumeric string like ‘0xa3C1E324CA1ce40db73eD6026c4A177F099B5770’ as your address. For instance, you can use ‘Greatesthodler.eth’ as your domain name, making your digital presence more accessible and user-friendly.

ENS offers a compelling reason to invest in the project through its tokenomics, which places a high value on the community’s interests. Fifty per cent of ENS’s total supply is allocated to the DAO, ensuring that the community has a significant say in the project’s direction. The remaining 25 per cent has been distributed through an airdrop that happened in 2021, rewarding individuals who had purchased at least one Web3 domain by 31 October 2021 with tokens. This community-centric approach is what sets ENS apart.

What it is and how it came into being 

The Ethereum Name Service is a domain system built on the Ethereum blockchain. Its founders, Alex Van de Sande and Nick Johnson wanted to provide wallet holders with a more user-friendly address than the typical alphanumeric network code. This is similar to how the Domain Name System (DNS) transforms numeric IP addresses of websites into understandable designations on the traditional web. Thanks to ENS, users can now navigate the blockchain and Web3 in a more intuitive way, just like they can in web browsers.

To make an informed decision about buying Ethereum Name Service (ENS), it’s important to know a bit about its history. ENS was founded in 2017 by a team of developers who were already part of the Ethereum Foundation. However, in 2018, this core team decided to break away from Vitalik Buterin’s foundation and become an independent organization. ENS is driven by seven highly active developers, including Nick Johnson, Sergey Nazarov, Dan Finlay, Taylor Monahan, Aron Fischer, Jason Carver, and Martin Swende. What’s more, ENS is not just a standalone project but is supported by several prominent players in the crypto world, including Binance, Chainlink, Classic Labs, Protocol Labs, and the Ethereum Foundation, giving you confidence in its credibility and future prospects.