Ethereum Domain Name Service (ENS) Surpasses 500,000 Primary Domain Names
On March 24th, according to the latest data from Dune Analytics, the number of primary domain names in the Ethereum Domain Name Service (ENS) has exceeded 500000, reaching 500880 a
On March 24th, according to the latest data from Dune Analytics, the number of primary domain names in the Ethereum Domain Name Service (ENS) has exceeded 500000, reaching 500880 at the time of writing. Currently, the total number of active ENS domain names is 2769381, and the number of participating addresses is 671665. The Primary Name allows the user’s Ethereum address to point to an ENS domain name, helping users find and display the ENS domain name when connecting to DApp using their Ethereum account. This domain name must be set by the user himself and will not be automatically generated during registration. According to NFTgo data, the total trading volume of ENS has reached 214.61 million US dollars, with a market value of approximately 100.32 million US dollars.
The number of ENS main domain names has exceeded 500000
Introduction
On March 24th, 2021, the Ethereum Domain Name Service (ENS) reached a significant milestone, surpassing 500,000 primary domain names. With the total number of active ENS domain names at 2,769,381, and participating addresses totaling 671,665, it has become a popular service in the Ethereum community. In this article, we will explore what ENS is, how it works, and what the future holds for this innovative technology.
What is Ethereum Domain Name Service (ENS)?
The Ethereum Domain Name Service (ENS) is a decentralized naming service that maps human-readable names to Ethereum addresses, making it easier for people to send and receive cryptocurrencies. ENS operates on the Ethereum blockchain and provides a unique way for users to access decentralized applications (DApps) by linking their Ethereum address to a personalized domain name.
What are Primary Domain Names in ENS?
A primary domain name in ENS allows users to assign a human-readable name to their Ethereum address. These names are designed to be user-friendly and are much easier to remember than complex wallet addresses. However, unlike traditional domain names, users must create and set their own ENS domain name. ENS does not automatically generate them upon registration.
How Does ENS Work?
ENS works by translating human-readable names into machine-readable Ethereum addresses. Once a user registers a domain name, they can bind it to their Ethereum address, allowing them to send and receive cryptocurrency using their personalized domain name instead of a long and complicated wallet address. This provides a more user-friendly experience since users can now remember their domain name instead of their wallet address.
The Popularity and Value of ENS
ENS has been gaining popularity in the Ethereum community due to its convenience and ease of use. According to NFTgo, the total trading volume of ENS has reached $214.61 million, with a market value of approximately $100.32 million. This shows that not only is ENS becoming more popular, but it is also gaining value as it becomes more widely adopted in the community.
Future of ENS
The future of ENS looks bright as it offers several benefits to the Ethereum community. As more people adopt cryptocurrencies, ENS will become an essential tool for everyday users. ENS is also continuously developing new features, such as support for non-fungible tokens (NFTs) and supports more cryptocurrency wallets, which will further increase its popularity.
Conclusion
The Ethereum Domain Name Service is a decentralized naming service that is revolutionizing how we think about cryptocurrency addresses. With its ease of use, convenience, and growing popularity, ENS is rapidly becoming a favorite among the Ethereum community. As the number of primary domain names continues to grow, it is clear that ENS is here to stay.
FAQs
Q: How do I register a primary domain name in ENS?
A: To register a primary domain name in ENS, you will need to choose a name, check its availability, and then bind it to your Ethereum address using a compatible wallet.
Q: Can I use ENS with other cryptocurrencies?
A: ENS currently supports only Ethereum addresses. However, there are plans to support other cryptocurrencies in the future.
Q: Is ENS decentralized?
A: Yes, ENS is a decentralized naming service that operates on the Ethereum blockchain, meaning no central authority controls it.
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