Sketch:
Ethereum Name Service(ENS) is the system that links the information to the name. ENS is a name service and they are built on ethereum; here it provides a secure and decentralized way to the resource of address with the help of human-readable names.
On the internet, you will need to type in the IP address of a website before accessing the site. This is a series of complicated numbers to remember and almost impossible to guess. In this resource, it is a human-readable name and it makes it easier for people to surf the web. Nowadays the cryptocurrency is still in the phase of IP address and here the users need long and it is difficult to remember the address and to gain access.
Where the Ethereum Name Service (ENS) comes in. ENS wants to make use of crypto which is as easy as surfing the web. Our post is helpful to explore the work of ENS and it is to secure a domain name on it.
Ok, let What is Ethereum Name Service?
In a special system, we create and provide more friendly names in the place of long addresses. In the ethereum ecosystem, it is used as a swarm hashes. In another word, ENS is an ethereum based dApp and which is built on a smart contract.
And this ENS allows you to register a domain name in your wallet address and it is also used for transferring funds. It means someone can transfer their funds directly to the name instead of the address. Here the smart contracts are fully decentralized. This is a name as (DNS) Domain Name System and it is taking part in an auction process on the blockchain.
To submit their bid users will have to wait for the name which becomes available. When the user has the highest bid he is the only winner of the name, and then they auctioned ETH to lock the smart contract. At one year the name is locked in the smart contract. By using this period the users can add their extra data, create some subdomains, lease, sell or loan it.
The ENS names are sold to the highest bidder or leased by any party. To lock or burn the funds when the users claim the name and this way it’s mainly created to discourage spamming. The names are only claimed by the user and who will make use of them.
ENS is not a DNS:
Ethereum Name Service is not a Domain Name Service and that ENS is not a domain name whether it can be used in the fashion app and it replicates in the browser functionality which is like a Mist or Metamask. But that ENS does not grant a trademark or any kind of ownership. Registered ENS is an automated process and this is intellectual property.
Conclusion:
The “.eth” is only the top-level domains and this integrates the entire DNS namespace. It enables the owners of these DNS sites to claim the use of that name on ENS.
