About Ethereum Name Service
Ethereum Name Service (ENS) is a decentralized naming system built on Ethereum that maps human-readable names like alice.eth to wallet addresses, other cryptocurrency addresses, content hashes, and metadata. Nick Johnson, a former Google engineer, created the protocol, which launched in 2017 as a set of Ethereum smart contracts. The ENS governance token and the ENS DAO launched together in November 2021. ENS runs on top of the Ethereum mainnet and inherits its proof-of-stake consensus. ENS names are issued as ERC-721 NFTs, while the ENS token is an ERC-20 asset. The native token is used for governance of the ENS DAO, covering votes on protocol parameters, .eth pricing, treasury management, and other proposals. It is not used for paying transaction fees or earning staking rewards. ENS names can be transferred and traded as NFTs. The initial total supply is 100 million ENS tokens. The DAO is authorized to mint up to 2 percent additional tokens per year, making the long-term supply uncapped beyond that initial figure.
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