Ethereum Name Service (ENS) domain is the decentralized DNS domain replacement built on top of Ethereum smart contracts. The goal of ENS domains is to replace long strings of alphanumeric characters associated with Ethereum wallet addresses with human-readable names that facilitate the transfer of ether. So, instead of having an unreadable key string for every cryptocurrency address, you will have one unified ENS domain, such as domain.eth, from which you can accept all types of cryptos and NFTs.
By using an ENS domain, you solve both blockchain identity and payment gateway, all from one address which is also your domain name. This one can be connected to your crypto wallet and your website, also allowing you to create several subdomains, such as email.domain.eth or website. domain.eth -- all under one single ENS domain.
ENS can be used to replace long addresses with human-readable domain names, thus making cryptos operations easier. They can be used to get funds and to hold various cryptocurrency addresses stored under one ENS domain, along with a website and social media handles.
Since the Ethereum Name Service supports a reverse resolution mechanism (matching the crypto address with an ENS name), you can tie metadata such as a Twitter profile with your ENS domain.
Ethereum Name Service concept is similar to the Domain Name Service (DNS), which maps plain site names to their IP addresses, to facilitate the reading and sharing of crypto addresses.
In addition to Ethereum addresses, ENS domain offers human-readable domains for other cryptocurrency wallets, websites, content hashes, and metadata -- they are meant to be your Web3 username, connecting all of your addresses and websites under one moniker, so that you can get any kind of cryptocurrency or NFT through them.
ENS domains are used as an easier and more human-readable alternative to a traditional Ethereum wallet address, which is made up of 42 hexadecimal characters. ENS allows crypto users to purchase and manage their domains on Ethereum. with which they can manage their crypto funds and assets by just using a domains name that is friendly to humans.
If you have ever been confused by multiple addresses while sending cryptocurrency, you understand the necessity for ENS. Instead of having an unreadable string of keys for every cryptocurrency address, you would have a single ENS domain, such as Rick.eth, where you could get all kinds of cryptos and NFTs.
ENS domains can also be used to access websites hosted on the decentralized storage solution IPFS.
Ethereums name service (ENS) is a quite similar concept as Domain Name Service (DNS), mapping plain site names onto their IP addresses, making cryptocurrency addresses easier to read and share
Like DNS, ENS also operates in a system made up of dot-separated hierarchical names, which are called domains.
One key difference is that ENS is built on Ethereum's smart contracts, making it safer, more private, and censorship-resistant than the Internet Domain Name Service (DNS).
Once the ENS domain is registered, it may be sold in a secondary market, such as OpenSea. As long as your domain is a token of ERC-721 Standard, it can be traded and sold just like any token or NFT.
ENS sells the individual domains, and, like all NFT originators, gets a share of the secondary sales on platforms such as OpenSea.
If you wish to sell direct, you can reserve your crypto domains for purchase by a particular buyer directly, with OpenSea acting as a kind of private market and escrow account.
If you want to create a new Ethereum Name Service domain you will first need a crypto wallet, like MetaMask Mobile, Torus, or MEW, as well as a bit of Ether (ETH).
If you own a domain.eth domain, you can use smart contracts to create a custom subdomain that matches the Dapp (decentralized application) and makes it a little easier for users to identify. While a top-level domain, such as domain.eth is owned by a smart contract called the Registrar, which controls subdomain creation, the subdomain is owned by the top-level domain itself.
