Quick Summary:
- ENS (Ethereum Name Service) domains are a blockchain-based DNS alternative that is going to be a building block of Web 3. ENS domains are getting a lot of attention and are being traded on NFT marketplaces like NFTs.
Related: Ethereum Gas Fees Fell To Lowest Levels Since August 2021
What is an ENS domain?
Imagine you have a friend whose name is so long that you find it difficult to call them each time you want their attention. The simple thing you can do is to give them a nickname. This is what an ENS domain does. ENS is an acronym for Ethereum Name Service which can replace public keys with the most simple and custom nicknames.
Usually, you to give a string of 64 characters like 0x586b39829e78f76c853ac0382743ed9056e6104bff40dc9b83d6710dc369ab4c which is pretty difficult to verify if it’s correct. However, with ENS you can get an alternative address to receive crypto with a custom name like “nathancrypto.eth”.
Key Usecases of ENS Domains:
- Web 3 username
- A website URL
- Twitter profile
- Email address
- Discord handle
- Telegram handle
- Online identity
- As an NFT
- Send and receive crypto and NFTs
- ENS subdomain
How to get an ENS domain?
Now that we understand the basics of ENS, let’s try to get one.
- Go to ENS Domains using the following address to avoid error or phishing attempts:
- In the top search bar, search your custom name to check if it is not already registered by someone else. In this case, we want an ENS “NathanCrypto.eth” which is available.
- Click the name to proceed to buy.
- From the left tab, click on the “Connect” button to connect your wallet..
- You can connect Ethereum-based wallets like Metamask, Trust Wallet, Coinbase Wallet, and others shown in the image above.
- Connect your favorite wallet to the DApp (Decentralized Application). I’ll be using Metamask to buy this ENS Domain.
- From this page, you can choose the registration period. The DApp will show you the price it will cost you in Ethereum. For 10 years you can purchase the domain for $160 (depending on the gas fee).
- The registration completes in three simple steps:
- Request to Register: you will sign the transaction for requesting the transaction.
- Wait for 1 minute: This waiting period is there to avoid any collision purchases and ensure that another person is not buying the same domain.
- As soon as you press the “register” button and the wallet will ask you to sign the transaction and pay the registration fee and gas fee.
That’s all, now you own this ENS which you can use to receive cryptocurrency and even use an
alternative for DNS (Domain Name Service).
Conclusion:
ENS, right now, is a lot slower (depending on the network congestion ~ a few minutes) than the classic DNS which is a lot faster (~ a few milliseconds). However, with the upcoming Ethereum Merge, things are going to take a major shift.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
