What is Ethereum Name Service (ENS)? Details About ENS Token

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2021-11-11 20:45:07

When the market begins to look into many corners of life, technology solutions to make it easier for users to track and transact will be lucrative pieces of cake for project development teams.

Let’s learn about Ethereum Name Service with CHK – a project about providing and converting names for users on the Ethereum network!

What is Ethereum Name Service?

Ethereum Name Service is a distributed domain name service system, open mechanism and developed on the Ethereum ecosystem. The development-oriented project is to convert the names that are applied in the daily life of users into the identifiers on the Ethereum network, which can be used as wallet addresses, hash content, and applications in metadata. whether the system.

In simple words, ordinary wallet addresses when put into ENS will be converted to .ETH extension for the convenience of users.

The project also supports “Reverse Resolution,” which allows metadata sources to link together with either Canonical Names or interface descriptions with Ethereum wallet addresses.

Website Ethereum Name Service: https://ens.domains/

Ethereum Name Service Highlights

Ethereum Name Service helps you create NFT standard ERC 721. This NFT represents the tenant’s .ETH domain and is unique.

Say it’s a tenant because it’s similar to buying web domain names with a term. When registering an ENS domain name, there will also be a deadline, and when it expires, you need to renew or buy a new domain name.

Ethereum Name Service includes 2 main components in the system, including: ENS Registry and Resolvers.

Ethereum Name Service includes 2 main components: ENS Registry and Resolvers

ENS registry: includes a smart contract with domains (domains) and subdomains (subdomains), hosting 3 important pieces:

  • Domain owner.
  • The resolver for the domain (resolver).
  • Cache lifetime for all domain records.

The domain owner can be a user account type or a smart contract. A domain name registrant would simply be a smart contract that owns a domain name and makes its subdomains available to users.

Domain owners on ENS will:

  • Set the domain name you want (except for the duplicate domain of course).
  • Submit domain ownership to another address.
  • Change ownership for subdomains.

ENS registration has a simple registration cycle and exists to shape a name from the resolver. The resolvers will be responsible for converting the name to an address. Any qualified contract will participate in the resolver interactions on the ENS.

Each record type of crypto asset addresses, IPFS hashes, etc. defines a method or methods that the resolver must implement to provide records of the same type.

The name resolution cycle on ENS will include 2 steps:

  • Step 1: Register the resolver that will be responsible for name resolution on the ENS.
  • Step 2: Ask the resolver to give answers to the queries.

Token Information Ethereum Name Service (ENS)

Key Metrics ENS

  • Ticker: ENS
  • Blockchain: Ethereum
  • Token Standard: ERC20
  • Contract: 0xc18360217d8f7ab5e7c516566761ea12ce7f9d72
  • Token Type: Utility, Governance
  • Total Supply: 100,000,000 ENS
  • Circulating Supply: 9,196,308 ENS

ENS Token Allocation

DAO Community Treasury: 50%.

ENS Contributors: 25%.

Airdrop for .ETH holders: 25%, of which:

  • Core Contributors: 18.96%.
  • Select Integrations: 2.5%.
  • External Contributors: 1.29%.
  • Launch Advisors: 0.58%.
  • Keyholders: 0.25%.
  • Active Discord Users: 0.125%.
  • Translators: 0.05%.
Distribution of ENS Token

ENS Token Sale

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ENS Token Release Schedule

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ENS Token Use Case

ENS is a token used to:

  • Project management.
  • Participate in activities on the platform.
  • Airdrop for users.

How to earn and own ENS Token

Currently, you can own ENS Token through the following ways:

  • Claim token here.
  • Trade at some exchanges such as Uniswap, SushiSwap, OKEx, gate.io,…

ENS Token exchange & storage wallet

ENS Token Storage Wallet – CHK Wallet

ENS is an ERC20 token, so it will be stored on CHK Wallet follow these steps:

Step 1: At the main interface, select Receive.

Step 2: Enter ENS in the search box.

Step 3: Choose a wallet to receive ENS tokens.

Step 4: Copy the wallet address and send the ENS token to this address.

Instructions for storing ENS Token on CHK Wallet

Exchange ENS Token

You can trade ENS Token at some exchanges like Uniswap, SushiSwap, OKEx, gate.io,…

Roadmap & Updates

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Project team, investors & partners

Project team

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Investors

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Partner

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Similar projects

Starname (IOV): The project provides a “name” to the user. This name will be used on the blockchain network, for services such as identification, payments, asset ownership, and logging into dApps.

summary

Above is all information about the Ethereum Name Service project for you to have more knowledge when learning about the project and making your own judgments. If you have any other questions about ENS tokens, don’t hesitate to leave a comment below to discuss with CHK!

Please register and join CHK Insights groups and channels below to discuss with admins and other community members:

Disclaimer: All information in the article is for informational purposes only and is NOT intended as investment advice. You should carefully study the project before making any investment decisions!

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