Ethereum Name Service (ENS) is a new blockchain-based domain name system that allows users to buy, sell, and register domains using Ethereum. The ENS protocol is live and available on the Ethereum mainnet. ENS can power a wide range of applications, including decentralized exchanges, online voting, and more. In this article, we will provide a price prediction for ENS. We will also discuss the prospects for ENS in the future and how it could impact the overall Ethereum ecosystem. Stay tuned for more updates on Ethereum Name Service (ENS) as they happen!
What is Ethereum Name Service?
Ethereum Name Service (ENS) is a decentralized naming system for Ethereum blockchain applications. It allows users to resolve domain names into numerical addresses on the Ethereum network.
Nick Johnson and Jed McCaleb in 2013 initially proposed ENS. The ENS registry has been operational since 2015 and holds more than 1 million domains. In 2017, DFINITY raised $21 million in a Series A funding round led by Digital Currency Group Inc.
ENS has been growing rapidly since its inception, with a 8x increase in registrations over the past year. This growth is likely attributable to the increasing popularity of Ethereum as a platform for developing decentralized applications.
There is significant potential for ENS to grow even further, as it provides an easy way for developers to integrate Domain name resolution into their applications. There are also plans to add support for new languages and regions, making it even easier for developers to deploy decentralized applications worldwide.
Ethereum name service price prediction: How High Can ENS Go?
ENS is a decentralized naming system for Ethereum that allows users to register and manage names. The ENS price prediction suggests that the ENS price could reach up to $0.50 by the end of 2018.
ENS was created as a way for developers to easily register, manage, and monetize domain names for their projects on the Ethereum blockchain. The ENS platform offers transparency and trustworthiness, using cryptographic Proof-of-Work (PoW) to validate domain name transactions.
The ENS platform has been growing rapidly in recent months, with more than 1,000 registered domains currently available. The growth of the ENS platform could be due to several factors, including increasing interest in Ethereum and its associated projects, as well as advancements made by the team working on ENS.
According to market data compiled by CoinMarketCap, Ethereum is currently ranked fourth among all cryptocurrencies with a market value of over $30 billion. This indicates significant interest in Ethereum and its associated projects among investors and developers. In addition, the team working on ENS has made significant advances since the release of version 1 of the platform earlier this year. These advancements include support for additional languages and updates to the user interface designed specifically for developers.
Based on these factors, we believe the ENS price will continue to grow in 2018. We predict that the ENS price could reach up to $0.50 by the end of 2018
What is Ethereum Name Service?
ENS is a decentralized naming system for the Ethereum blockchain. It allows users to resolve domain names into their corresponding IP addresses and port numbers. This is useful for working with smart contracts and DApps that require a stable domain name or IP address.
ENS launched on the Ropsten test network in February of this year and has since been adopted by several projects, including Augur and Mediachain Labs. The ENS team has released several updates, including support for subdomains and new features such as DNSBL lookup.
Ethereum name service price prediction
As of writing, ENS is trading at around USD 0.12 per token. This suggests that ENS could see a price increase of around 38% over the next year. Some investors are optimistic about the prospects of Ethereum and believe that ENS will become mainstream soon enough. If this prediction pans out, ENS could be worth up to USD 0.27 per token by the end of 2020.
Conclusion
ENS price is surging higher and it looks like it could reach $15 very soon. So if you are thinking of buying ENS, now might be a good time to do so. However, keep in mind that the price is highly volatile and can also go down. So do your own research before investing in this project.
