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This article introduces the relevant knowledge of "what is the use method of Ethereum ENS". In the operation process of actual cases, many people will encounter such difficulties. Next, let Xiaobian lead you to learn how to deal with these situations! I hope you can read carefully and learn something!

ENS, full name: Ethereum Name Service, that is, Ethereum Name Service, similar to DNS to resolve domain names to IP addresses, ENS is responsible for resolving Ethereum names to Ethereum addresses. For example, when you want to transfer money to us, you can use the name hubwiz.eth instead of the address 0x4cbe 58c50480…, ENS is responsible for resolving this name to the corresponding Ethereum address.

Once you own an ENS domain name, you can point it to any resource and create subdomains, which is also very similar to Internet domain names.

ENS is a fully decentralized system. The top-level domain.eth is managed by an auction contract running on the Ethereum blockchain, through which anyone can reserve an Ethereum domain name for themselves.

How Ethereum Domain Name Auction Works

The allocation of Ethereum top-level domains is achieved through a Vickory auction process. The entire auction process is divided into three steps:

Someone opens an auction for the name they want to buy and bids. The auction also allows others to bid within three days, and the content of the bid is confidential, so no one can know the price you bid for, or even which domain name you bid for.

After the 3-day bidding period, a 2-day bid opening period will be entered. At this stage, each applicant is required to reveal the details of his bid, otherwise the bidder is eliminated. If your bid is not the highest price, then your bid will be returned, but a handling fee of no more than 0.5% will be deducted.

At the end of the 2-day bid opening period, the highest bidder wins, but he only has to pay the second highest bid. This money is locked in the contract for the entire life of the winner's domain. The winner sends a closing transaction to receive the money back and control of the bid name.

The winner of the auction gets the domain name, and after holding it for at least a year, the domain name holder can also choose to release the domain name, thereby receiving the locked funds.

How to Buy an Ethereum Domain Name

ENS domain name purchase services are available in the following apps:

registrar.ens.domains

Official dapp requires a browser that supports blockchain, such as Mist, or Chrome with Metamask plug-in enabled.

My Ether Wallet

This is an open source client solution that runs in your browser and requires you to upload the identity of the wallet you want to use.

ETHTool

ETHTool is a closed-source solution that includes ENS integration.

Remember that your bid should always be revealed within the 48 hour bid opening period or you will lose all your bid money. Reveal which accounts, private keys, and additional information to bid on. When using the official App, this information is stored locally in your browser and can be backed up to a JSON file.

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