Ethereum Name Service NFT Prices & Overview
The Ethereum Name Service (ENS) is the most widely integrated blockchain naming standard. It is a distributed, open, and extensible naming system based on the Ethereum blockchain. The main job of ENS Domains is to map a human-readable name like 'brantley.eth' to machine-readable identifiers such as Ethereum wallet addresses, other cryptocurrency addresses, content hashes, and metadata. While many people only use ENS Domains to route to their Ethereum wallets, they can be linked to other cryptocurrency wallets like Bitcoin, Litecoin, and Doge as well.
ENS Domains are meant to be a users Web 3 username. As Web 3 continues to grow, ENS Domains continue to solve the issue of single sign-on to websites and decentralized applications. Since the Internet has no personal username or authentication system built-in, typically users are required to create an account on a standard Web 2 website. As Web 3 progresses and Web 2 sites begin updating to allow single sign-on, ENS Domains will allow users to use their ENS Domain as a way to log-in to websites without users having to create individual usernames and passwords for each site.
In early November, ENS allowed those who had previously registered names to claim a select amount of $ENS tokens, the project's governance token. The token claim has become one of the most successful and widely distributed web3 participation incentives to date.