Casie jeanlouis

Nov 8, 2021

3 min read

We all know the airdrop of ENS is coming soon, but what can you do with ENS?

“ENS”, the name of Ethereum Name Service, is a distributed domain name service based on Ethereum. It provides a secure and decentralized way to resolve simple human-readable domain names into address resources on and off the chain. What can you do with ENS?

On May 4, 2017, it officially landed on Ethereum’s ENS. Through a unique bidding mechanism, any user can register one (or more) Ethereum ending with “.eth” for his Ethereum address through the bidding process. domain name. To put it simply, ENS can map the long and hard-to-remember “Ethereum address starting with 0x” to a custom short address, such as satoshi.eth, vitalik.eth, and so on. In this case, in wallets that support ENS, users no longer need to copy and paste long addresses, and can directly use ENS domain names to bind various cryptocurrency addresses and receive cryptocurrency payments.

ENS is the identity protocol of web3, which is ultimately applicable to the entire Internet. You have your own username, control your profile data, and bring it to every dapp and service you use. This is different from web2. In web2, you use a different account and user name for each isolated service. In web3, you have your own user name and use it in various applications.

So what can you do with ENS in the upcoming Web 3 ecosystem? Simply put, traditional Web 2.0 applications are mainly composed of “domain names” (such as google.com) and “servers” (such as cloud services hosted on Amazon). Then, through the traditional DNS (Domain Name Service) system, the domain name is mapped to the “IP address” corresponding to the server, so that ordinary users can access Google’s website through “google.com”.

In the world of Web 3, in order to decentralize the two, the storage and computing capabilities provided by the “server” can be achieved through a combination of various decentralized technologies such as IPFS, Ethereum, and Dfinity, and the community also hopes Decentralize the “domain name” through the blockchain network.

Vitalik, the founder of Ethereum, also mentioned ENS in his previous speech. “For users, infrastructure is the key. ENS stands for Ethereum’s domain name system, which is the decentralized domain name system based on Ethereum. ENS is a very important infrastructure. Many Ethereum users use ENS, such as I have an ENS domain name, and many Ethereum users also have an ENS domain name. My own blog also has an ENS domain name. If you go to my blog, you can see it. I expect more and more people will use ENS in the future The problem that ENS currently faces is that all functions are implemented on the mainnet, which leads to very high transaction costs. This is exactly the challenge we face in terms of infrastructure.” Vitalik said.

ENS is going to airdrop. The total amount of tokens is 100 million, and the total amount of airdrops is 25%. The total number of airdrops is 25 million. The airdrop addresses are 137,000. Each address is airdropped on average 182 ENS. The airdrop is mainly related to the registration time and expiration time. The number of registered domain names does not matter much. Another 25% will be airdropped to ENS contributors. The total number is about 500. Each of these people will airdrop 50,000 ENS on average. Most of them should be related to the team. This is a big airdrop.

50% of ENS airdrop tokens will belong to DAO itself. 25% will be provided to accounts with .ETH names, and the other 25% will be distributed to hundreds of people who have contributed to ENS in important ways in the past 5 years. DNS mapped domain names and subdomains are not included in the airdrop. The ENS project has not been funded, and the core team will not provide liquidity for the token and actively contact the exchange to list the currency. DAO will determine all matters related to .eth, such as transaction fee changes, vault usage, etc. Any $ENS holder can participate in DAO governance and become a Delegator. Now you got the idea of what can you do with ENS right?