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The Ethereum Name Service(ENS) is a distributed, decentralized system. Whereby, it allows anyone to register and resolve human-readable names on the Ethereum blockchain. This makes it easy for users to send payments or interact with smart contracts. This is made possible by using familiar, easy-to-remember names instead of long, complex addresses. ENS was created by a team of developers led by Nick Johnson. Nick Johnson wrote the original ENS whitepaper. The team included Alex Van Sande, Aron Fischer, and Gowtham Iyengar. Moreover, Ethereum Name Service is built on the Ethereum blockchain and uses smart contracts to handle registration. Smart contracts are secure,tamper-proof digital agreements that may be enforced automatically, without the need for people to intervene.
What makes Ethereum name Service unique?
Ethereum Name Service provides a decentralized, secure system for storing and accessing the information on the blockchain. This means that users no longer need middlemen to securely access their data. This has been made possible because all information is stored directly on the blockchain. In addition, this decentralized system can help to reduce the risk of hacking or data breaches. As there is no single point of failure that can be targeted by cybercriminals. Overall,the coin offers several key benefits for users looking to securely store and access their data on the blockchain. Whether you are interested in creating new accounts or transferring funds to your existing addresses. ENS can provide a convenient and secure solution.
Current Price Prediction
Source:trading view The current live Ethereum Name Service price is $21.44 USD with a trading volume of $357,493,467 USD over the last 24 hours. Over the previous 24 hours, Ethereum Name Service has dropped 15.33 percent. CoinMarketCap ranks it at #125 with a live market cap of $430,750,050 USD.It has a circulating supply of 20,200,860 ENS coins and a max supply of 100,000,000 ENS coins. Ethereum Name Service is on a bearish trend at the moment.
What do investors think about the Ethereum name service?
Referring to MD crypto of youtube he clearly states that the price of ENS has been declining. It has declined with a minus of about 10.74 from its previous value. The coin has been trying to be on board with other crypto coins. Short-term investors have no confidence in it. In the last month, the ENS has shown a massive decline of 40.90%. The sudden dip at the moment can be good for quick investment. If the coin is given time it can still be profitable.
Why should you invest in Ethereum name service?
The project is skeptical about gaining more investors. However, there is a lot of potential in Ethereum Name Service. In addition to being innovative?ENS is the first decentralized domain name service for Ethereum. However, it is an important part of the infrastructure that supports the Ethereum ecosystem. By investing in the coin, you can help drive its continued development. This development ensures that it continues to meet the needs of users and developers alike. The team plans to use the funding to support the growth of the ENS ecosystem and continue building infrastructure for the web. In addition,it is easy for users to look up and use addresses, smart contracts, and other resources. This will help increase the adoption of Ethereum-based applications making it easier for new users to get started.