A Straightforward Way for Dot Eth (.eth) Domain Acquisition That Works for All Ethereum Addresses
ETHSimple is the latest service that intends to make the process of registering a .eth domain name through ENS easier for the average user. In fact, this new customer-facing solution could boost usage of ENS in many ways and could make Ether exchanges more fluid.
What Is Ethereum Name Service, ENS and What Is It Used For?
ENS is an open-source project put forth by the Ethereum developers’ community, with the goal to create a decentralized domain name registry for the decentralized web. Although the initial standard for ENS defines resolution for Ethereum addresses, the system is reportedly extensible to resolve more resource types.
Simply put, ENS defines the aim behind their project as to resolve human-readable dot eth (.eth) domain names, into machine-readable identifiers including Ethereum addresses, Smart Contract addresses, IPFS or swarm content hashes.
Today we use DNS services to resolve our dot com (.com) domain names to IP addresses. However, a centralized name registry like DNS is always vulnerable to spoofing and denial of service attacks. Since ENS is built on top of the Ethereum blockchain, it is decentralized by design, and would not suffer from the same vulnerability as DNS.
Since their inception in May 2017, ENS domain names were thought to represent a huge step forward towards bringing mass adoption. The reason being the fact that dealing with long hexadecimal strings can be daunting to the average person. Furthermore, wallet addresses are not easy to remember and pass around.
The other issue that ENS tries to solve is that of domain squatting. Squatting is when people buy domains solely because they think those domains will be valuable in the future. Squatters just sit on the domain, never actually doing anything with it. This is a popular strategy in the world of DNS to make easy money.
ENS tries to counter this with some techniques like using a “Vickrey Auction” to give the rights to a domain name.
Original link: https://blokt.com/news/a-straightforward-way-for-dot-eth-eth-domain-acquisition-that-works-for-all-ethereum-addresses