Ethereum Name Service (ENS) is earning popularity as an investment and holding possession among crypto community members. The previous week, after ‘000.eth’ – a rather interesting ENS – was bought at a record ETH 300, ENS sales witnessed a hike. This specific ENS sale raised their overall demand in the community. Similarly, the Daily ENS registrations also spiked, reaching nearly 30,000 new addresses on July 4th and over 20,000 on July 7th. The results were accentuated by Dune Analytics, a tracker of ENS.

A decentralized domain name procedure, an ENS delivers reasonable and easily understandable crypto wallet addresses by rebuilding the traditional complex and long alpha-numeric ones.

On the OpenSea NFT marketplace, for instance, 1.5 million ENS regions are listed. Within these, 445,000 ENS domains are already acquired.

“The interest we see in ENS is partly driven by the fact that it’s one of the very few pure true utility NFTs that are visible, widely known, liquid, and traded on OpenSea. The fundamentals and value to addresses bring far more certain than other opportunities for retail crypto investors,” CoinDesk referred to Anderson Mccutcheon, founder, and CEO of Chains.com, as saying. The platform is planning on transforming cryptocurrencies as a medium of exchange at a scale.

“Our findings suggest that ENS is showing popularity gradually during its four years’ evolution, mainly due to its distributed and open nature that ENS domain names can be set to any kinds of records, even censored and malicious contents. We have identified several security issues and misbehaviors, including traditional DNS security issues and new issues introduced by ENS smart contracts,” an announcement by Cornell University claimed last year.

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Alice is the Chief Editor with relevant experience of three years, Alice has founded Galaxy Reporters. She has a keen interest in the field of science. She is the pillar behind the in-depth coverages of Science news. She has written several papers and high-level documentation.

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