{"id":11042,"date":"2023-02-01T18:47:42","date_gmt":"2023-02-01T18:47:42","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=11042"},"modified":"2025-09-10T15:21:19","modified_gmt":"2025-09-10T15:21:19","slug":"what-is-ethereum-name-service-ens","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ethereum-name-service-ens","title":{"rendered":"What is Ethereum Name Service (ENS)?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ethereum-name-service-ens\/#why_was_ethereum_name_service_created\" >Why was Ethereum Name Service created?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ethereum-name-service-ens\/#how_does_ens_work\" >How does ENS work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ethereum-name-service-ens\/#what_can_we_do_with_ens\" >What can we do with ENS?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ethereum-name-service-ens\/#how_much_does_it_cost_to_obtain_an_ens_domain\" >How much does it cost to obtain an ENS domain?<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>If you are a user of the world of cryptocurrencies, you probably know the\u00a0<strong>Ethereum network<\/strong>. This network, in addition to having the second largest cryptocurrency, has a large number of services and applications that make it one of the most widely used. Therefore, today we will talk about one of its main services,\u00a0<strong>Ethereum Name Service or ENS.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>Ethereum Name Service is a\u00a0<strong>name designation service<\/strong>\u00a0targeted at walllet addresses, hashes and other machine-readable identifiers. Reading strings of data can be a difficult task at easily readable addresses. The operation of ENS is easily comparable to the\u00a0<strong>domain name system (DNS)<\/strong>\u00a0used for<strong>\u00a0web pages.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>Following its development, ENS put\u00a0<strong>popular six-, five-, four- and even three-letter domain names<\/strong>\u00a0up for auction to interested users ( ex. Jim.eth). Each domain contains .eth at the end and can be attached to\u00a0<strong>multiple cryptocurrency addresses, hashes and other information.<\/strong><\/p>\n<p>Over time, this system has\u00a0<strong>changed<\/strong>. Nowadays, we can easily buy names without having to participate in\u00a0<strong>auctions or rent them per year<\/strong>. Domain prices vary depending on the length of the name we want to rent. A curious fact is that owners of an ENS domain as of\u00a0<strong>October 31, 2021<\/strong>, are entitled to an\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-cryptocurrency-airdrop\">airdrop<\/a>\u00a0of ENS\u00a0<strong>governance tokens<\/strong>. The deadline to claim this airdrop is until\u00a0<strong>May 4, 2022.<\/strong>\u00a0Below we will tell you all about this system and how it works.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"why_was_ethereum_name_service_created\"><\/span><strong>Why was Ethereum Name Service created?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Ethereum Name Service, as we already know, is a project based on\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-ethereum-eth-and-how-does-it-work\">Ethereum<\/a>. Its launch took place\u00a0<strong>on May 4, 2017<\/strong>\u00a0and was led by<strong>\u00a0Alex Van de Sande and Nick Johnson of the Ethereum Foundation.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>The goal of this project is to allow users to display large\u00a0<strong>Ethereum public addresses<\/strong>\u00a0<strong>in a simpler and shorter text-based way.<\/strong>\u00a0Thanks to this system it becomes easier to share,\u00a0<strong>use and remember addresses and other data.<\/strong>\u00a0\u00a0Ethereum Name Services, in a nutshell is responsible for transforming machine-readable numbers such as\u00a0<strong>0xAc9703a7D398351b8bT66C439e05d8u3259aeP5C into a readable alternative<\/strong>\u00a0option for users. This mechanism is an important pillar to improve the adoption of blockchain technology.<\/p>\n<p>&nbsp;<\/p>\n<p>It is worth noting that Ethereum Name Services is not only limited to\u00a0<strong>wallet addresses.<\/strong>\u00a0It is also used to\u00a0<strong>represent transaction IDs,<\/strong>\u00a0<strong><a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-hash\/\">hashes<\/a>\u00a0and metadata, data frequently found in the crypto world, and so on.<\/strong><\/p>\n<p>ENS is also characterized by the launch of a<strong>\u00a0governance token<\/strong>. This token is part of its transition to a decentralized autonomous organization or\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-dao\">DAO<\/a>. Following the rapid increase in the price of the token,<strong>\u00a0ENS<\/strong>\u00a0has become very popular and its users have increased significantly.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div id=\"image_1503697536\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES1.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES1.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES1-300x205.jpg 300w\" alt=\"ETHEREUM-NAME-SERVICES\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES1.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES1-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES1.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_does_ens_work\"><\/span><strong>How does ENS work?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The operation of Ethereum Name Service is relatively<strong>\u00a0simple<\/strong>. The first thing to know is that it\u00a0<strong>uses non-fungible tokens or\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-are-nft-tokens-and-how-do-they-work\/\">NFTs<\/a>\u00a0of the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-an-erc-721-token\">ERC-721<\/a><\/strong>\u00a0format to achieve\u00a0<strong>the representation of a unique address.<\/strong>\u00a0We can do domain\u00a0<strong>exchanges through the sale or transfers of NFTs<\/strong>\u00a0to other users. This is possible, as\u00a0<strong>wallet addresses<\/strong>\u00a0and all related information is tied to each token. These tokens are managed by the owner.<\/p>\n<p>&nbsp;<\/p>\n<p>Top-level domains such as .eth are owned by a smart contract known as a registrar.\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-a-smart-contract\">This smart contract<\/a>\u00a0controls the creation of subdomains.<\/p>\n<p>&nbsp;<\/p>\n<p>The process of purchasing an Ethereum domain name is very simple.\u00a0<strong>First we verify that it is available<\/strong>\u00a0and if it is we can rent it on a yearly basis. However, the most popular domains were initially auctioned off.\u00a0<strong>The highest bidder who wins the domain<\/strong>\u00a0has\u00a0<strong>the power to attach addresses, create subdomains and even lend or sell their domain name.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<p>&nbsp;<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"what_can_we_do_with_ens\"><\/span><strong>What can we do with ENS?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Maybe you\u2019ve ever made a mistake when sending cryptocurrencies with many addresses. If you have, this is something you can avoid with\u00a0<strong>ENS<\/strong>. Thanks to this system it would be just as<strong>\u00a0easy as with the system<\/strong>\u00a0we use to store a<strong>\u00a0phone number<\/strong>\u00a0of any friend. ENS offers its users the opportunity to convert\u00a0<strong>long numbers into easy-to-remember words<\/strong>. This system creates a more straightforward experience with less chance of errors.<\/p>\n<p>&nbsp;<\/p>\n<p>The owner of an ENS domain also has the possibility to create sub-domains to which he can later assign\u00a0<strong>other data<\/strong>. This does not always have to be a wallet address. Domains can be used to redirect to a\u00a0<strong>smart contract, transactions or metadata.<\/strong><\/p>\n<div id=\"image_1206062969\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES-300x205.jpg 300w\" alt=\"ETHEREUM-NAME-SERVICES\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2022\/03\/ETHEREUM-NAME-SERVICES.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_much_does_it_cost_to_obtain_an_ens_domain\"><\/span><strong>How much does it cost to obtain an ENS domain?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In the cost of an ENS domain there are\u00a0<strong>two possible parts<\/strong>; the first is\u00a0<strong>the auction costs and rental costs<\/strong>. The price of an ENS domain name at auction used to depend on the popularity of its name. There are some<strong>\u00a0recognizable names<\/strong>\u00a0such as Sol, Mar or ETH. Such names\u00a0<strong>usually fetch quite high prices.<\/strong>\u00a0Other more expensive domains are those that include short three-letter words. Here are some examples of<strong>\u00a0the prices paid for domain names.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<ul>\n<li aria-level=\"1\"><b>sportsbet.eth<\/b>\u00a0cost $142K<\/li>\n<li aria-level=\"1\"><b>gmi.eth\u00a0<\/b>cost\u00a0$96,7K<\/li>\n<li aria-level=\"1\"><b>casey.eth\u00a0<\/b>cost $89,9K<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>Once we have secured the ENS domain,<strong>\u00a0the next step is to pay an annual renewal fee in ETH<\/strong>. These fees are represented in USD, however, they are converted\u00a0<strong>using an exchange rate provided by the ETH\/USD oracle of the\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-chainlink\/\">Chainlink<\/a>\u00a0network<\/strong>. To get an idea, the annual renewal cost is 5 USD per year. This price is for names with\u00a0<strong>five characters or more<\/strong>, but as we already know, the\u00a0<strong>fewer letters<\/strong>\u00a0the name has, the more expensive the<strong>\u00a0price<\/strong>\u00a0becomes.<\/p>\n<p>&nbsp;<\/p>\n<p>If one thing is clear, it is that ENS has been a\u00a0<strong>breakthrough<\/strong>\u00a0in the world of cryptocurrencies. Thanks to this mechanism we can create\u00a0<strong>easily accessible ways<\/strong>\u00a0to interact with a blockchain.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 4<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>If you are a user of the world of cryptocurrencies, you probably know the\u00a0Ethereum network. This network, in addition to having the second largest cryptocurrency, has a large number of services and applications that make it one of the most widely used. Therefore, today we will talk about one of its main services,\u00a0Ethereum Name Service [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":6997,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[185],"tags":[],"class_list":["post-11042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain-en"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=11042"}],"version-history":[{"count":2,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11042\/revisions"}],"predecessor-version":[{"id":24596,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/11042\/revisions\/24596"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/6997"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=11042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=11042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=11042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}