The ENS token is the governance token issued by the Ethereum Name Service (ENS). The token is used to participate in the governance of the ENS protocol and to vote on proposals.
The Ethereum Name Service is a domain name service built on the Ethereum blockchain. Its core function is to translate complex Ethereum blockchain wallet addresses into human-readable addresses.
The official website for the Ethereum Name Service (ENS) is: https://ens.domains/ The service app can be accessed at: https://app.ens.domains/
We recommend trying to search for a name. If you find a domain you like that hasn't been registered, you can pay to register it. Registration is not permanent; the current annual fee is around 0.004 ETH, and you can register for multiple years at once. In the example below, I searched for "coolllllllll" and found it was available, which brought up the registration payment page.
However, if we search for "vitalik," the name of Ethereum's co-founder, we will find it is already registered, as shown in the image below. We can click on it to see the registration details. First, we can see that the vitalik.eth domain is registered and managed by the owner of a specific wallet address.
Next, we can see the wallet address linked to vitalik.eth is: 0xd8dA6BF26964aF9D7eEd9e03E53415D37aA96045. This means that if you send digital assets to "vitalik.eth", they will arrive at that wallet. This is the primary function of ENS: "to translate complex Ethereum wallet addresses into human-readable addresses." Long, complex addresses have always been a significant hurdle for most users. A simple, easy-to-read address solution is something many people have been waiting for.
An ENS domain is an NFT (Non-Fungible Token). Therefore, it can be traded on secondary marketplaces like OpenSea. The image below is a screenshot of ENS domain listings on OpenSea. To date, one of the largest sales was paradigm.eth for 420 ETH. More recently, 000.eth was sold for 300 ETH.
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