How to buy Ethereum Name Service (ENS)

Buy Ethereum Name Service through Crypto.com

• Crypto.com is a cryptocurrency exchange company based in Singapore. As of May 2022, the company reportedly had 50 million customers and 4,000 employees. The exchange issues a token, Cronos. The company was initially founded in Hong Kong by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo in 2016 as “Monaco”. In 2018, the company was renamed as Crypto.com following a purchase of a domain owned by cryptography researcher and professor Matt Blaze. Domain sellers valued the domain at US$5–10 million.

Buy Ethereum Name Service through Binance

• Binance is a cryptocurrency exchange which is the largest exchange in the world in terms of daily trading volume of cryptocurrencies. It was founded in 2017 and is registered in the Cayman Islands. Binance was founded by Changpeng Zhao, a developer who had previously created high frequency trading software.

Buy Ethereum Name Service through Coinbase

• Coinbase is a convenient and cheap way to buy Ethereum and the platform is open to 200+ countries). Coinbase will sell you CRO for a variable fee that depends on your payment method (credit cards have a higher fee than wire transfers), order size and market volatility. Here’s how you buy Ethereum on Coinbase: Open a Coinbase account Add your payment method (Credit card or bank account) Go to “Buy/Sell” and select the amount of Ethereum you desire Click “Buy Cronos”

Buy Ethereum Name Service through Okex

• OKX (Chinese: 欧易), formerly known as OKEx, is a Seychelles-based cryptocurrency exchange and derivatives exchange. It was founded by Star Xu (徐明星) in 2017. OKX is owned by Ok Group, which also owns crypto exchange Okcoin. It is not available to US based investors. The company’s CEO is Jay Hao and CMO is Haider Rafique. Initially headquartered in Beijing, China, OKX is now under a blanket ban by Chinese regulators. On October 13, 2021, it issued a “Notice on Regulatory Policy in Mainland China”, announcing that it would continue its policy of “withdrawing from the Chinese mainland market” and would not establish an office or team in the region. However, according to Caixin, although the exchange officially announced that it would no longer set up an office in Mainland China, it still has a large number of R&D staff working in the region, including engineers, who continue to work for OKX in the form of third-party outsourcing companies.

Buy Ethereum Name Service through Kucoin

• Kucoin is a global cryptocurrency exchange for numerous digital assets and cryptocurrencies. Launched in September 2017, KuCoin has grown into one of the most popular crypto exchanges and already has over 8 million registered users from 700+ countries and regions. According to Alexa traffic ranking, KuCoin’s monthly unique ranking is in the top 5 globally. Known as the “People’s Exchange”, KuCoin operates in Seychelles, providing users with multi-language and 24/7 customer service. Meanwhile, KuCoin has established local communities all over the world in South Korea, Japan, Spain, Italy, Vietnam, Turkey, Russia, India, and other regions, providing users with the most local services. Currently, 1 out of every 4 crypto holders in the world is with KuCoin.

Step 3 – Withdraw Your Ethereum Name Service (ENS)

Once you decide on an exchange, open an account and buy your Ethereum Name Service. Make sure to withdraw the Ethereum Name Service from the exchange to your personal wallet.

Never leave coins on an exchange, as you risk losing them all if that exchange gets hacked or shuts down (which has happened in the past) and always double check address before send coins because you can send the coins to wrong address .

OVERVIEW

Who Are the Founders of Ethereum Name Service?

ENS was initially a part of the Ethereum Foundation, but spun off as a separate organization in 2018. Its Lead Developer is Nick Johnson, a software engineer from New Zealand that previously worked at Google and the Ethereum Foundation. The ENS team is nine people strong and its treasury is governed by a 4-7 multi-signature root with the following members:

• Nick Johnson – ENS
• Sergey Nazarov – Chainlink
• Dan Finlay – Metamask
• Taylor Monahan – MyCrypto
• Aron Fischer – Colony
• Jason Carver – Ethereum Foundation
• Martin Swende – Ethereum Foundation

Although ENS has no investors, it is supported by the Ethereum Foundation, Binance_X, Chainlink, Ethereum Classic Labs, and Protocol Labs.

What Makes Ethereum Name Service Unique?

Ethereum Name Service (ENS) is unique in that it provides a human-readable naming system for Ethereum addresses, making it easier to send and receive cryptocurrency and interact with decentralized applications. Here are some of the key features that make ENS unique:

1. Decentralized: ENS is a decentralized naming system built on the Ethereum blockchain, meaning that it is not controlled by any central authority and is resistant to censorship.

2. User-friendly: ENS provides a user-friendly and memorable way to identify Ethereum addresses, using human-readable domain names that can be linked to complex Ethereum addresses.

3. Interoperability: ENS is interoperable with other Ethereum-based applications and protocols, making it possible to use ENS domains to interact with decentralized websites, messaging systems, and identity verification systems.

4. Security: ENS is based on a smart contract system that is auditable and secure, providing a high level of security for domain owners.

5. Customizable: ENS allows users to create custom subdomains and use their domains for a range of applications and use cases, such as creating personalized cryptocurrency addresses or decentralized websites.

6. Open and transparent: ENS is an open system that is transparent and auditable, meaning that anyone can participate in the system and monitor its operation.

Overall, Ethereum Name Service is an important component of the Ethereum ecosystem, enabling new use cases and simplifying the use of Ethereum addresses for individuals and businesses.

How Many Ethereum Name Service (ENS) Coins Are There in Circulation?

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 20 million at the time of writing. ENS is distributed as follows:

• DAO Community Treasury (50%): 10% at launch, linear vesting over four years.
• Airdrop to .ETH holders (25%)
• Contributors (25%), with four-year linear vesting including:
  • Core Contributors: 18.96%
  • Select Integrations: 2.5%
  • Future Contributors: 1.25%
  • External Contributors: 1.29%
  • Launch Advisors: 0.58%
  • Keyholders: 0.25%
  • Active Discord Users: 0.125%
  • Translators: 0.05%

How Is the Ethereum Name Service Network Secured?

The Ethereum Name Service (ENS) is secured by the underlying Ethereum blockchain, which provides a high level of security through its decentralized and immutable nature. The ENS system is implemented as a set of smart contracts on the Ethereum blockchain, which are publicly auditable and verifiable by anyone.

Here are some of the key ways that the ENS network is secured:

1. Decentralization: The ENS system is decentralized, meaning that there is no single point of failure or control. This makes it resistant to censorship and ensures that it can continue to operate even if some nodes or participants fail or drop out.

2. Immutability: The Ethereum blockchain is immutable, meaning that once a transaction is recorded on the blockchain, it cannot be modified or reversed. This ensures that ENS domain registrations and other operations are permanent and cannot be changed by anyone.

3. Smart contracts: The ENS system is implemented as a set of smart contracts on the Ethereum blockchain, which are auditable and secure by design. The smart contracts contain the rules and logic for registering, managing, and resolving domain names, and are publicly verifiable by anyone.

4. Public auditability: The ENS system is open and transparent, meaning that anyone can view and audit the code and transactions on the Ethereum blockchain. This ensures that the system is fair, transparent, and free from errors or vulnerabilities.

5. Community governance: The ENS system is governed by the ENS community, which includes developers, domain owners, and other stakeholders. The community works together to propose and implement changes to the ENS system, ensuring that it remains secure, reliable, and useful for its users.

Overall, the ENS network is secured by the underlying Ethereum blockchain, as well as the smart contracts and community governance that underpin the system. This ensures that the ENS system is robust, transparent, and secure, and can be relied upon for a wide range of use cases.