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TürkçeEthereum Name Service Information
Ethereum Name Service (ENS) is a decentralized naming system built on the Ethereum blockchain, aiming to simplify the complex world of cryptocurrency. By providing human-readable names for blockchain addresses and resources, ENS enhances user experience, making interactions more intuitive. Its growing adoption underscores the increasing demand for user-friendly solutions in the rapidly evolving decentralized ecosystem.
Introduction to Ethereum Name Service
The Ethereum Name Service (ENS) has revolutionized the way we interact with blockchain addresses, aiming to simplify the user experience by replacing daunting alphanumeric addresses with human-readable names. ENS, represented by the symbol ENS, facilitates a foundational layer that could drive the next wave of blockchain adoption. But what exactly does ENS offer, and how has it evolved over time?
Core Functionality and Benefits of ENS
At its core, the Ethereum Name Service is designed to map user-friendly names to Ethereum addresses, making transactions more intuitive. This is akin to the Domain Name System (DNS) used for internet domain names. Instead of dealing with long and cryptic Ethereum addresses, users can simply use a name like “alice.eth” to perform transactions.
One of the primary advantages of ENS is improved user experience—ensuring that less technical users can participate in the blockchain ecosystem without friction. Additionally, ENS enhances security by reducing the likelihood of human error when copying and pasting addresses, thereby offering a significant reduction in mistaken transactions.
Historical Performance and Market Position
Since its inception, ENS has experienced a dynamic price journey. The coin hit its all-time high of $83.4 on November 11, 2021, marking a significant milestone. However, like many cryptocurrencies, ENS also faced volatility and currently trades around $17.44, reflecting a significant decrease from its peak. Despite the fluctuations, ENS maintains a substantial market presence with a market cap of approximately $578 million.
On the lower end, ENS reached an all-time low of $6.69 in October 2023, demonstrating the dramatic peaks and troughs common in the crypto markets. The current price represents a considerable rise from this low point, indicating a robust recovery phase.
Potential Drawbacks of ENS
Despite its innovative approach, ENS is not without its challenges. As with many blockchain technologies, the user adoption rate is closely tied to the broader understanding and acceptance of blockchain technology itself. Another limitation includes the dependency on the Ethereum network, which may lead to bottlenecks or high transaction fees, particularly during periods of network congestion.
Furthermore, the competition is fierce as various systems and protocols aim to provide similar services. Thus, ENS must continue to innovate and adapt to maintain its market leadership and relevance in this rapidly evolving sector.
Future Prospects for Ethereum Name Service
The future of ENS looks promising, especially considering the potential expansion of blockchain applications into mainstream use. As the ecosystem matures, ENS could become a critical infrastructure component, enabling seamless interaction with decentralized applications.
Given the current trajectory towards a decentralized internet, or Web 3.0, ENS is strategically positioned to play a pivotal role. If ENS can manage to overcome its challenges and continuously improve its system, it could see increased adoption and potentially a rise in its value. As more industries recognize the benefits of blockchain technology, the demand for simpler ways to interact with these systems is likely to grow, favoring solutions like ENS.
Conclusion
The Ethereum Name Service offers a much-needed solution to a vital problem in the cryptocurrency world: usability. By making blockchain interaction more intuitive, ENS stands to foster broader adoption of digital currencies and technologies. While past volatility has impacted its market price, the underlying utility of ENS positions it as a promising asset in the burgeoning field of blockchain technology. As the adoption of blockchain technology expands, so too might the relevance and potential value of ENS.
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from price
$35
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General Information |
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Title
Ethereum Name Service
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Symbol
ens
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Whitepaper
-
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Website
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Community
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Last Updated
2025-01-21 23:51
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Price Data |
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Current Price $
34.92
$
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High 24h
36.06
$
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Low 24h
32.8
$
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Price Change 24h
0.278023
$
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Price Change % 24h
0.80254
%
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Market Data |
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Market Cap
1158512583
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Total Volume
127927677
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Market Cap Change 24h
15677728
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Market Cap Change % 24h
1.37183
%
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Return on Investment (ROI)
-
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Supply and Availability |
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Circulating Supply
33165585.054508
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Total Supply
100000000
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Max Supply
100000000
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Historical Data |
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All Time High (ATH)
83.4
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ATH Change %
-58.13261
%
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ATH Date
2021-11-11 02:20
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All Time Low (ATL)
6.69
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ATL Change %
421.86422
%
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ATL Date
2023-10-19 02:35
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