Ethereum Name Service (ENS)
- Official Website: ens.domains
- Definition: ENS is a decentralized domain name system built on Ethereum, allowing users to register human-readable names for crypto addresses.
- Category: Blockchain, Utility, Token.
- What It Is: A platform for registering and managing decentralized domain names.
- Function: Simplifies crypto transactions by replacing complex addresses with readable names.
- Analogy: Think of ENS as a digital phonebook. It maps easy-to-remember names to complex crypto addresses.
- Pros: User-friendly, decentralized, strong use case for crypto adoption.
- Cons: Reliance on Ethereum, competition from other naming systems.
- Controversies: High gas fees, regulatory risks.
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This page was last updated on January 28, 2025.
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