Bitcoin Forum

Ethereum Name Service (ENS) is a naming service for wallet addresses, hashes, and other machine-readable identifiers. It turns difficult to read strings of data into easily readable addresses. It works similarly to the Domain Name System (DNS) used for websites.

Source: https://academy.binance.com/en/articles/what-is-ethereum-name-service-ens

How does Ethereum Name Service work?

An ENS domain name uses ERC-721 Non-Fungible Tokens (NFTs) to represent a unique address. You can trade a domain by transferring or selling the NFT to someone else. Wallet addresses and other information are attached to each token, which is manageable by the owner. A top-level domain like .eth is owned by a smart contract called a registrar that controls the creation of subdomains.

How to get your own ENS domain?

checking its availability on https://app.ens.domains/ and registering it

Source: https://academy.binance.com/en/articles/what-is-ethereum-name-service-ens

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I'm starting to notice more Ethereum-related services, so does this mean that we will witness a new era where more and more intentional services are on the Ethereum mainnet network?

I'm still trying to learn and understand about ENS.

But I think that I understand it a bit as it has ownership just as the NFTs.

Likely.

This is one of the wonders of cryptocurrencies to be specific, a trend keeps on going and it doesn't stop there when we get a new one.

Yes, Ethereum Name Service (ENS) is a domain name services that uses ERC-721 (NFTs) to make a unique address.
you can use it with this GUI https://app.ens.domains/ which makes creating domains are easy and any one can buy it with cheap amont.
The problem, in my opinion, is fees, which if it is resolved, all applications based on the Ethereum blockchain will develop and many altcoins/tokens will disappear.

The price of gas is currently greater than the price of 1-Year to 3-Years payment and therefore the offer may not be attractive, but you can use some other cheap chains such as BSC.

I expect other networks to lunch their domain names as well if the idea get successful with Ethereum network.

I have checked it with few domain names and whet you said is alright. So i changed the reservation period for more than 6 years and i got two notes:
1- The price doesn't reduce if you want to reserve the domain for one year or 10 years. If the first year costs 5$ so the 10 year will cost 50$.
2- The gaz fee remains higher than the domain price for 6+ years (this is funny Lol).

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Advice:
Always double check the URL before connecting your wallet: https://app.ens.domains/
We expect to see many fake urls claiming to be another mirror for this service. Be careful.

However, I see an increase in usage as the site sees a lot of people registering.
I thought it was the cause of buying a site at a cheap price and selling it in the future at a higher price, but many people buy those sites.
You can find distinct and easy domains, the database is still medium.


My question is what would happen if Ethereum succeeded in upgrading and the fees became very low, I expect more and more applications on the Ethereum network.

Thank you for answering.

It's getting my attention since I think you're the second or third person that I've seen talking about it. You're right about the fees, it's the one that's quite delaying its popularity.

I didn't know that there's the same thing for BSC but well, it's almost everything with ETH can also be found in BSC.

If the fees will be much lower after the upgrade, then i expect the service would be become popular which will results the increase in domain names prices. Also, i guess other domain providers (GoDaddy or NameCheap...) to add the eth extension to their databases and charge a fee additional to Ethereum network gaz fees. Also don't forget the other networks who will try to get a portion from this cake, i can't tell how it would exactly happened technically but i am sure it's quite possible.
This market is full of madness though.