MEXC Research: Ethereum Name Service (ENS)

ENS is the Ethereum Name Service DAO's governance token. It is a distributed, open, and extendable naming system built on the Ethereum blockchain. The function of ENS is to convert names that can be read by humans, such as "alice.eth," into names that can be read by computers, including Ethereum addresses, addresses for other cryptocurrencies, content hashes, and metadata. With the use of ENS's "reverse resolution" feature, it becomes feasible to link Ethereum addresses to metadata like canonical names or interface descriptions. We will explore the features and tokenomics in this article (plus ways of how to buy and earn ENS on MEXC).

Core Features

Due to the limitations and capabilities offered by the Ethereum blockchain, ENS has a fundamentally different design from DNS, the Internet's Domain Name Service. Similar to DNS, ENS uses a system of domains—dot-separated hierarchical names—in which the domain's owner has complete control over its subdomains.

• Namehash. Without having to deal with human-readable text strings internally, Namehash is a recursive process that can produce a distinct hash for any valid domain name. This enables ENS to create a hierarchical structure.
• DNSSEC (The Domain Name System Security Extensions). It creates a trust chain starting with the root key, which is signed by ICANN (. ), and continuing through all of the keys. Anyone can submit the chain's hash to the DNSSEC Oracle smart contract as long as DNSSEC is enabled and an ETH address is added to the domain's subdomain (such as _ens.yourdomain.tld).

Tokenomics

A total of 100,000,000 ENS tokens are available. People in the DAO community own 50% of the ENS. 5% was airdropped to the owners of ETH, which has more than 137,000 accounts. The ENS contributors, which consist of over 100 people and groups as well as thousands of Discord users, hold the remaining 25% of the ownership. ENS's estimated market cap as of this writing is $250,437,135, and its fully diluted market cap is $1,237,040,457.18.

Interested in Buying ENS?

You can purchase ENS on MEXC Global or other crypto exchanges.

1. Log in or register a MEXC account and click Trade. Click on Spot.
2. Search “ENS” using the search bar to see the available trading pairs.
3. Scroll down and go to the Spot box. Enter the amount of ENS you want to buy. Click [Buy ENS] to confirm your order. You will find the purchased ENS in your Spot Wallet.