What is ENS and Why it Matters

What is ENS and Why it Matters

By Fish.Pro | FishProMedium | 18 Nov 2021


Wealth Legendary is never absent in Crypto market.The most discussed this week is retroactive ENS airdrop and a Chinese ENS early adopter who was gifted with 2.8 million US dollars through the airdrop. Under such surprising stimulus, ENS has seen a whooping surge to $78,inspiring another bulls

 

What is ENS?

 

With full name of Ethereum Name Service, ENS is a distributed,open naming service running on the Ethereum blockchain.Much similar with DNS, ENS is the Web 3 version of the domain name system but a censorship-resistant method for cataloging the internet and making it easily searchable for users.

 

Why ENS Gain such Devastating Success?

 

Among all the factors,the core value of ENS dominates in driving the skyrocket this time.

 

  1. Exclusive Identity Symbol under Domain System

Budweiser,the self-proclaimed “King of Beers,” bought the beer.eth domain name via Opensea for 30 ETH (about $100,000).Why it matters? As early as in Web2 times,domain has proved its great value:the main online ID of an individual/entity.Much more than a domain ,the identity symbol of ENS represents the vast array of underlying layers it has to offer and effectively unifying all identifiers and use cases under a decentralized name

 

  1. User Experience as Convenient as Internet

When you made an ETH transfer in the past, you need to made long hexadecimal addresses such as ‘0x6cpe67c53980… and any mistake in the process will subject you to fund loss.With ENS, you  can simply type name plus ‘.eth’. Its adoption could help simplify the overall web experience tremendously for businesses and individuals. ENS bridges the complex computer language with readable human language and provides easier access to to an open decentralized infrastructure. Besides,it integrates with many traditional domains such as .com .io. By simply knowing a business’ pseudonym you could connect with them, pay, and interact with them without need to know a specific identifier for each different use case

 

  1. Privacy-Friendly Protection that Outshines Web2

When we use mobile phones or emails to create account and perform real-name authentication in Web2 era.Our IP address, chat log,purchase favor and whatnot are all included in a third-party database or Cookie.In other words, our privacy security relies much on the safety technological system or their moral self-displine.However,rising data breach scandal  revelations from giants like Facebook spark growing concern for people’s privacy security.With ENS people can realize simple and safe information storage in decentralized web3 without cloud service provider.Your own user account is gripped by your own hands,so does your destiny.Decentralized domain in tandem with other advantages such as trending Metaverse,maps a bright future ENS.

 

Someone may regret for missing the airdrop or may hesitate by further drop from current the high-price ENS token.

 

Professionals pointed out that the market complies with the basic law,meaning the price, though fluctuates all the time,is invariably around its value, In other words,if an investor recognizes the core ENS value,he can hold ENS tokens for further time.

 

ENS token is the native governance token of ENS community under ERC-721 standard. It has been listed on Fish.Pro and ranked top 6 in the trading volume.

Fish.Pro is a leading crypto trading platform that combines centralized exchange with advantages of decentralized crypto exchanges.It provides various functions and use cases through integrating with multiple crypto derivative dapps.Backed by world-class technology muscle,Fish.Pro ranks top 50 in Mytoken ranking lists and is the global first to integrate with Ronin sidechain.Since its launch, it has received report from international media bitcoinist,yahoo finance,newsbtc,coinspeaker,futurenews,benzinga etc.As an outstanding representative of Platform 3.0, Fish.Pro is committed to building a revolutionary traffic center guiding users for fantastic crypto treasures islands.

When Fish.Pro lists ENS, web 3.0 meets platform 3.0.What is it expected to surprise us ? Let’s stay tuned

 

How do you rate this article?


27

1

Fish.Pro
Fish.Pro

Your Portal to Crypto Treasure Islands. Crypto Exchange: https://bit.ly/3ARKZXh; Twitter:FishProOfficial


FishProMedium
FishProMedium

Your Portal to Crypto Treasure Islands. Crypto Exchange:http://bit.ly/3kFHvBZ

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.