Ethereum Name Service (ENS)
By CoinGecko | Updated on Aug 12, 2021
The Ethereum Name Service (ENS) is a look-up service that allows Ethereum users to find websites or send and receive funds via simple names instead of complicated sequences of letters and numbers. ENS features a registry smart contract that keeps track of all domain names, subdomains, owners, resolvers, and other information, as well as allowing the owner to update it. It works like the Domain Name System (DNS), but ENS is decentralized and more secure.
Related Terms
Mineable
A cryptocurrency is said to be "mineable" when it has the system thrugh which miners can be rewarded with newly-created cryptocurrencies for creating blocks.
Mining Pool
Combination of resources of several miners to obtain a higher mining power and thus achieve greater rewards for the opening of blocks.
Decryption
The process of decrypting data that was previously encrypted (made unreable) back to a readable form.
Liquidity
The ease of which cryptocurrency can be bought and sold without impacting the overall market price.
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