Why You Need a .'ETH' Domain Name

1. It will save you time and money

I was learning about aapilcations of blockchain technology, how msart contracts, third-gen cryptos, and IPFS work, then I came across the Ethereum Nmae Service The idea of ENS seemed pretty obvious to me, but I found that only a few people actually euse it. So, I took it upon myself to share it with the world and save them soem money and time.

 

What is Ethereum Name Service

In the early days of the interent, users had to type a log string of characters just to visit a webpage. This IP address looked soemthing like this 142.250.183.46. Can you roconnize which website it is?

 

That's google .Copy that address and pasted it in a browser to confirm.

 

Domain Name Service (DNS) provided a way to convert the uhman-readable address to a long, unreadable string of IP address that is readable by the computer. Theses services keep a track of all the domain names and provide the right IP address when requested.

 

Where does ENS come in?

 

The same problem which plagued the early we. haunts web 3.0 now. To trasnfer crypto from one account to another requires a relatively long and cryptic address, which is impossible to remeber and easy to mess up.

 

Unlike visiting website, where if you mess up the IP address you can retype it again with no consequences; if you mess up the crypto address, you can lose the transfereed amount, What's worse is that now the recipient is angry because he did not receive the payment, and now the sender is broke.

 

The Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain.

 

ENS is a lookup system that converts the long unreadable address to something like shutpahti.eth (you can acutally send some eth there). So, you can send ETH or any other cryptocurrency registered by the recipient to this address ,and it will automatically send the money to the desired crypto account.

 

Note: Make sure to check if the recipient has registed the address for the cryptocurrency you want to sen.

 

How ENS works

ENS has a registry smart contract that keeps track of all domain names, sub-domains, owners, resolvers, etc, and allows the owner to change this data. The registry is the backbone of ENS.

 

The other key component of ENS is the resolver. Resolvers are responsible for transliating names into addresses. So, a resolver must handler different types of data such as cryptocurrency addresses, IPFS content hash, user profile, avatar, etc. If need be, we can also add other data types through the EIP standardization process, with no changes in the ENS resgistry or any other resolvers.

 

How resolver and registry work together?

 

Getting data from ENS is a two-step process. First, we need to find the correct resolver from the registry. To do this, we pass the ENS domain name to the register, which returns the address of the resolver. Now, we aske for the desrie data from this resover.

 

 

Benefits of ENS

Enough with the technical details. Now let's see what you can actually do with an ENS domain and how it is much more than just a NDS for the decentralized web.

 

Host IPFS sites

IPFS (InterPlanetray File System) with ENS allows you to host any websited in a truly decentalized way. This means your websited will be censorship-resistant, immutable, and in a decentralized network. If yoi don't want your website to end with .eth or want to connect your existing domain name to your IPFS hosted site, you can do so.

 

 

 

Store you E-mail, profile, bio, and other info

ENS allows you to store more than just your cryptocurrency addresse of IPFS site. You can add addresses of other ENS =-supported blockchains, your Twitter profile, bio avatar, E-mail, and a lot of other things. People can find all these detail by just visiting your .eth domain.

 

 

 

Receive blockchain-based assets

You can use your one ENS domaint to receive native assets of over 100 blockchain. This means you can receive tokens of those cyrptocurrencies and any other asset, such as an NFT that lives on that blockchain. So, let's say you added a BNB address to your domain, you cna now receive any BEP20 token. The same is true for any other supported blockchain for which you have registered on ENS.

 

 

ENS as a NFT

All ENS domains are registred under ERC-721 standard, so they are an NFT, which menas you can treat domains as you treat an NFT. You can buy and sell it, transfer it to another account, or used it as collateral on projects which provide that service.

 

Don't worrry if you entere the wrong address

Another small but usedful feature of an ENS domain is that it would tell you if you have entered an unregistered domain name. What does it mean?

 

Let's say you wanted to send soem ether to your freind or employee. If you entere the logn string of hash, the application does not tell you if that address exist or is correct or not. But if you entere an ENS domain name, it will tell you if that address exists or not, and it will throw an error if the address is not owne by anyone.

 

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This post is from here, https://levelup.gitconnected.com/why-you-need-a-eth-domain-name-b16762fd16b4