Ethereum Name Service: An Essential Web3 Building Block

Quick Take Ethereum Name Service (ENS) boosts Ethereum's user-friendliness by mapping machine-readable identifiers onto human-readable names Governance is enforced through a DAO that encourages community members to actively shape the future of the protocol Uncoupled from NFTs' bleak market conditions, interest in ENS domain names has exploded lately

Timeline of Ethereum-name-service

The number of Ethereum Name Service (ENS) domains is nearing the two million mark as 1,888,209 ENS names have been etched into the Ethereum blockchain to date. The project recently detailed that July saw the largest monthly rise in revenue scoring 5,400 ether worth roughly $2.48 million during the course of the month.

A large non-fungible token (NFT) hodler of the popular Bored Ape Yacht Club (BAYC) lost 100 ETH, or $150,000. The loss is due to a prank bet through his registered Ethereum Name Service (ENS) address.

An ETH whale has incurred a massive loss on account of participating in a meme trend that has been gaining traction on Twitter. The meme trend was in direct connection to the ENS domain names and their growing popularity in the NFT space.

The Ethereum Name Service (ENS) domain sony.eth has been purchased for 48 ETH (72,000) by an ENS collector called sunnybay.eth. The post Ethereum Name Service collector buys sony.eth ENS for $72,000 appeared first on The Block.

Despite the severe bloodbath in the crypto market, some projects appear to be steadily growing. The Ethereum Name Service (ENS) is a vivid example in this regard, as the project has surpassed 1.5 million registered domain names.

As June ended, crypto service providers embarked on assessing the performances of various platforms. One leading platform that recorded disappointing numbers in the last 30 days was the Ethereum Name Service [ENS].

Over the last month, as investors tried to salvage the rest of their crypto assets investment from further losses, acquiring a domain name took the backseat on the list of their problems. Google Trends data for the search term “ENS Domain Name” revealed a gradual decline in the interest of internet users in that topic

What do ENS and Quik.com do? The ENS, also known as the Ethereum name service is an open and extended naming system on the Ethereum blockchain with an application to provide the required API for its users to be able to utilise it's services.

Non-mainstream projects, more often than not, take their own time to create a niche and establish themselves. Then, it just becomes a matter of time for their name and fame to heighten.

One Ethereum-based altcoin is putting up huge rallies over the last seven days in defiance of the broader crypto market downturn. ENS, the governance token of ETH domain marketplace Ethereum Name Service, has surged from a seven-day low of 14.24 to a seven-day high of $26.50, marking an 86% eruption in just one week. Ethereum The post Ethereum-Based Altcoin Surges 86% in Just One Week Amid Surging Adoption appeared first on The Daily Hodl.