Last year, Ethereum Name Service (ENS) announced that people could now connect any second level domain to ENS. This gives cryptocurrency wallet holders an easier way to remember wallet addresses needed for sending and receiving payments.
What Is ENS
ENS was created to make cryptocurrency wallet addresses easier to remember. It’s the same concept as domain names. Domain names were created so people wouldn’t have to remember the long numeric IP addresses that websites use. Instead, you can remember words in a domain, and that domain then points to the IP address. Likewise, cryptocurrency wallet addresses are usually a random selection of digits and uppercase/lowercase letters. These are often very hard to remember.
That’s where Ethereum Name Service comes in. ENS allows wallet holders to substitute words for wallet addresses. ENS started by offering pseudo-domains in the format example.eth. These .ETH addresses map to a wallet address. Unlike domains you register at GoDaddy or somewhere else, .ETH domains can’t be accessed like a website unless users have a special browser configuration. Later, ENS created an integration with .XYZ domains, so people could register a “real” domain ending in .XYZ and tie it to their wallet. Now, you can register just about any second level domain and connect it to ENS.
Tons Of Possibilities
Cryptocurrency wallet addresses just became fun. With the full DNS integration, you can now use any of hundreds of second level domains with ENS. A second level domain is the example part of example.com. Now, you can use your existing business domain name with ENS or register a new, more memorable name that connects to your wallet.
Some extensions that might make for fun wallet addresses include names ending in .MONEY, .CASH, .DIGITAL, and .EXCHANGE. When you think about it, there is all sorts of fun you could have with choosing a TLD for your wallet address.
How To Set It Up
Thankfully, ENS created a handy guide with step-by-step instructions for importing your domain to ENS to use as your wallet address. After registering your domain, you’ll need to enable DNSSEC, which is fairly easy at most registrars. You’ll also need to setup a TXT record for your domain name. While this might seem a bit technical, most people who have cryptocurrency wallets are fairly adept at handling technical integrations like this.
ENS doesn’t charge anything for connecting your domain, but you will have to pay Ethereum gas fees during the process. These are the fees you pay for using the Ethereum platform. Ethereum gas fees fluctuate, and ENS is currently working on a way to make this cheaper.