Many new projects are emerging in the world of crypto money There are many factors such as being reliable, having real usability, promising future for the emerging project to be successful and attract the attention of the investor. In the past days, Ethereum Name Service will have met many of these factors, and it has attracted the attention of investors.
The Ethereum Name Service (ENS) describes itself as an “open community-owned public service.” Today, this vision has come into focus as the project is in the process of empowering a decentralized autonomous organization (DAO), starting with the widespread deployment of the ENS management token.
Unlike many Web3 projects, ENS did not receive venture capital funding and a full 25% of the new tokens were reserved for their users. Anyone who registered a “.eth” domain name before October 31st was eligible to claim a different number of ENS tokens. In fact, this was one of the main factors that made the Ethereum Name Service popular.
In addition, Ethereum Name Service, which is based on blockchain, is separated from DNS by its decentralization. While there are manually controlled systems in DNS, Ethereum-based smart contracts seem to provide control in ENS.
ENS, the cryptocurrency of Ethereum Name Service, reached a record level of $ 85.69 on November 11, according to CoinMarketCap data 2 weeks ago. However, it later declined to the $60 levels by drawing a downward chart.
In addition, ENS's ATL was also seen on November 9 at $22. So at the moment ENS is trading closer to its record level. Many analysts and experts think that the future of ENS is bright because it brings a solution to an important area.