Price of Ethereum Name Service (ENS) today
As of the latest data, Ethereum Name Service (ENS) is currently priced at $14.49 with a market capitalization of $457.86M. The 24-hour trading volume stands at $26.45M, The circulating supply of Ethereum Name Service is approximately 31.18M. The cryptocurrency has seen a -1.16% decrease in value over the past 24 hours.
About Ethereum Name Service (ENS)
The Ethereum Name Service (ENS) is a digital asset with a focus on decentralized domain name services. ENS allows users to create human-readable names for their Ethereum wallet addresses, simplifying the process of sending and receiving cryptocurrency. This asset aims to enhance user experience and accessibility within the blockchain ecosystem by replacing complex wallet addresses with easy-to-remember names.
ENS leverages blockchain technology to provide secure and censorship-resistant domain name services. By utilizing the Ethereum network, ENS ensures that domain ownership is transparent and immutable. This technology enables users to have full control over their domain names without relying on centralized authorities.
With a logo version 2 and an updated timestamp of 1,654,796,597, ENS continues to evolve and improve its services. The asset's website, whitepaper, and social media accounts provide further information and updates on its developments. ENS is a valuable tool for individuals and businesses looking to streamline their interactions within the decentralized finance space.
How does Ethereum Name Service work?
Ethereum Name Service (ENS) is a decentralized system that allows users to assign human-readable names to their Ethereum addresses, making it easier to send and receive transactions. ENS operates on the Ethereum blockchain, utilizing smart contracts to map domain names to specific wallet addresses. This system eliminates the need for long, complex wallet addresses, simplifying the process of sending and receiving funds. ENS is secured by the underlying blockchain technology and consensus mechanisms of Ethereum, ensuring trust and transparency in peer-to-peer transactions. One of its unique features is the ability to assign multiple addresses to a single domain name, enabling users to manage their digital assets more efficiently. ENS has diverse use cases across various industries, including decentralized finance, gaming, and identity verification, offering a seamless and user-friendly experience for interacting with the Ethereum ecosystem. Its decentralized nature and innovative functionalities distinguish ENS from traditional financial systems, providing a more inclusive and accessible platform for users to engage in secure and efficient transactions.
How to keep your Ethereum Name Service (ENS) safe?
To keep your Ethereum Name Service (ENS) safe, it is recommended to utilize hardware wallets such as Ledger for enhanced security. These wallets store your private keys offline, making it harder for hackers to access them. Additionally, trusted platforms like Nexo, Coinbase, and OKX offer secure storage solutions for your ENS, providing added layers of protection against potential threats. By utilizing these secure platforms and hardware wallets, you can ensure the safety of your ENS and protect your assets from unauthorized access.
