A distributed and flexible name system built on the Ethereum blockchain is known as the Ethereum Name Service or ENS. It essentially functions as DNS, or domain name service, on Web 3.
A cryptocurrency address is initially just a long string of characters that computers can read. It may appear like this: “0xDC25EF3F5B8A186998338A2ADA83795FBA2D695E,” making it difficult to understand at times and, in some situations, even leading in funds being lost.
By giving human-readable names to machine-readable identifiers like Ethereum addresses, metadata, other cryptocurrency addresses, and content hashes, ENS offers a solution to the issue of lengthy and perplexing crypto addresses. The lengthy address mentioned above could be reduced to the shorter “Alice.eth” with ENS, and you could receive any kind of cryptocurrency or NFT through your ENS domain.
Two Ethereum smart contracts form the basis of ENS. The first is the ENS registry, which keeps track of three vital pieces of data: the domain’s owner, resolver, and caching period for all records under the domain. The Resolver, the second smart contract, converts a domain name into a machine-readable address and vice-versa.
It’s important to note that ENS not only works with .eth names but also with many other common DNS domains, such as.com,.org,.io, and .app.