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Ethereum Name Service (ENS)

Description

Ethereum Name Service (ENS) is a decentralized domain name provider. It allows anyone to buy and manage .eth domains without relying on a centralized domain registrar.

The owner of a domain can map it to any string value. One example is creating a human-readable name for his Ethereum wallet by resolving a personal domain to it. The owner can also create and manage subdomains.

Each domain has an owner, resolver, and time-to-live record and is stored in the ENS registry. Resolvers are smart contracts that can provide any information about given domain. Owner of the domain can choose a resolver and transfer the ownership of the domain as well as its subdomains.

Domains are purchased via blind auction. During the bidding period, bids are placed without revealing their amount. Then, bidders reveal them. The bidder with the highest revealed bid wins and becomes the owner of the domain.