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Ethereum Naming Service is now live on Cryptology!

December 11, 2023
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Buy, sell and trade ENS
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📈 Spot trading of ENS/USDT is live

What is Ethereum Name Service?

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The Ethereum Name Service is making Web3 easier to access, navigate and comprehend for both humans and machines. 

Built on the Ethereum blockchain, this open, decentralized, and extensible naming system converts the randomly generated letters and numbers of a standard Ethereum wallet address into simple, recognizable and understandable words such as the owner’s name or a brand. 

ENS is deployed to convert human-readable names such as “alice.eth” or “john.eth” to a machine-readable format such as Ethereum addresses, metadata, content hashes, and other cryptocurrency addresses. 

The Ethereum Name Service also provides reverse resolution capabilities, which makes it possible to associate metadata like canonical names and interface descriptions with Ethereum addresses registered on its blockchain.

It is similar to DNS, the Internet’s Domain Name System, but with ENS the architecture differs significantly due to the capabilities and constraints provided by the Ethereum blockchain. 

Like DNS, ENS works on a system of dot-separated hierarchical names called domains (for example the Internet’s .com and .net). But with ENS, the owner of a domain has complete control over the subdomains too. 

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The ENS token

The native currency of Ethereum Name Service is the ERC-20 token ENS.

ENS is the governance token of Ethereum Name Service and is used to govern the protocol and influence decisions on pricing its .eth addresses and the price oracle. 

Token holders can also delegate their tokens to the DAO for voting. The total supply of ENS is 100 million, and the circulating supply is just over 30.3 million at the time of writing.

ENS tokenomics: 

  • 50% - DAO community treasury
  • 25% - Helium, INC and Investors
  • 19.54% - Core contributors
  • 5.46% - Other contributors

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ENS market stats:

  • Current market cap: $271,997,856
  • Circulating supply: 30,325,481 ENS
  • Max supply: 100,000,000 ENS
  • Twitter: 255,500 followers 


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Katya V.

Katya is one of Cryptology’s skilled content managers and a writer with a diverse background in content creation, editing, and digital marketing. With experience in several different industries, mostly blockchain and others like deep tech, they have refined their ability to craft compelling narratives and develop SEO strategies.