Ethereum

Token

Show

Ethereum Name Service

<p>The Ethereum Name Service (ENS) allows the use of human-readable domain names instead of complex crypto wallet addresses on the Ethereum blockchain network. On January 3rd, Ethereum co-founder Vitalik Buterin posted praise for ENS, causing a significant price surge. The token has surged more than 40% today and 70% yesterday alone.</p> 
<p><strong>What is ENS and Why Does it Matter?</strong></p> 
<p>Ethereum Name Service (ENS) works similarly to the internet’s Domain Name Service (DNS) by converting hexadecimal addresses into simplified names ending in .eth. This creates a seamless user experience for transactions and applications on Ethereum by using names like “vitalik.eth” instead of long strings of numbers and letters.</p> 
<p><a href="https://twitter.com/VitalikButerin/status/1742540651797823948?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1742540651797823948%7Ctwgr%5E208fdab9066de5aa3482ff8077a3e21e4f0200d9%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fens-token-surges-70-vitalik-buterin-lauds-platform-super-important" target="_blank">As Buterin noted on Twitter</a> under his handle @vitalik.eth, “ENS is super-important, it needs to be affordable!”</p> 
<p>ENS domains are registered as non-fungible tokens (NFTs) directly on the blockchain instead of through a centralized authority. This provides censorship resistance and user control instead of relying on external servers. The decentralized nature allows self-sovereignty over names and identities in the Web3 ecosystem.</p> 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="538" src="https://captainaltcoin.com/wp-content/uploads/2024/01/image-49-1024x538.png" alt="" class="wp-image-412959" srcset="https://captainaltcoin.com/wp-content/uploads/2024/01/image-49-1024x538.png 1024w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-49-300x158.png 300w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-49-767x403.png 767w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-49-1536x807.png 1536w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-49-2048x1076.png 2048w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-49-285x150.png 285w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-49-100x53.png 100w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-49-666x350.png 666w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-49-788x414.png 788w, https://captainaltcoin.com/wp-content/uploads/2024/01/image-49.png 900w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure> 
<p><strong>The Importance of Layer-2 Integration</strong></p> 
<p>In his tweet, Buterin specifically discussed the need for direct integration of ENS with layer-2 scaling solutions like Optimism and Arbitrum:</p> 
<p>“All L2s should be working on (trustless, merkle-proof-based) CCIP resolvers, so that we can have ENS subdomains registerable, updateable and readable directly on L2s.”</p> 
<p>Enabling registration and resolution of addresses on layer-2 networks is the next step toward simplifying Ethereum for mainstream adoption. Removing address input friction by using human-readable names makes applications significantly more user-friendly.</p>  
<div class="wp-block-rehub-colortitlebox rh-colortitlebox" style="text-align:left;border-radius:5px;box-shadow:0 10px 10px #00000007;background-color:#fafafa;color:">
 <div class="rh-colortitle-inbox" style="background-color:var(--rehub-main-color);color:#fbfbfb;border-radius:5px 5px 0 0">
  <i class="rhicon rhi-bolt-regular rh-colortitlebox-icon" style="color:"></i>
  <div class="rh-colortitle-inbox-label">
   Don’t Sleep on this Explosive Crypto Airdrop!&nbsp;
   <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f92b.png" alt="🤫" class="wp-smiley" style="height: 1em; max-height: 1em;">
  </div>
 </div>
 <div class="rh-colortitlebox-text">
  <style scoped>.rh-toggler-open{height:auto !important}
.rh-toggler-open .rh-tgl-show, .rh-toggler-open .rh-tgl-grad{display:none !important}
.rh-toggler-open .rh-tgl-hide{display:block !important}
.rh-tgl-show, .rh-tgl-hide{cursor:pointer}
.rh-contenttoggler *{box-sizing: border-box !important}
.rh-toggler-wrapper{overflow: hidden;transition: all 0.5s ease; padding-bottom: 35px; margin-bottom:30px;box-sizing: content-box !important;position: relative;}
.rh-toggler-wrapper p:last-of-type {margin-bottom: 0;}</style> 
  <div class="wp-block-rehub-contenttoggler rh-contenttoggler" data-height="100px">
   <div class="rh-toggler-wrapper" style="height:100px"> 
    <p>Install the <a class="thirstylink" rel="nofollow" target="_blank" title="Getgrass" href="https://captainaltcoin.com/go/getgrass/" data-shortcode="true"><strong>GetGrass extension</strong></a> ASAP – the more points you score, the bigger your free crypto payoff! This red-hot airdrop could set you up for the future, but only if you <strong><a href="https://captainaltcoin.com/go/getgrass/" target="_blank">take action</a></strong> right now!</p> <span class="rh-tgl-trigger" style="text-align:center;position:absolute;z-index:2;bottom:0;left:0;width:100%;color:"><span class="rh-tgl-show" style="display:block">Show more +</span><span class="rh-tgl-hide" style="display:none">Show less –</span></span><span class="rh-tgl-grad" style="background-image:linear-gradient(to bottom,rgba(255,255,255,0) 0,#ffffff 100%);display:block;position:absolute;height:100px;bottom:0;left:0;z-index:1;width:100%"></span>
   </div>
  </div> 
 </div>
</div> 
<p><strong>Vitalik Buterin’s Comments Drive Price Surge</strong></p> 
<p>Buterin’s strong endorsement of ENS led to a surge in valuation for the ENS token. Following his statement that ENS is “super-important,” prices climbed over 70% in a day, reaching an eight-month high.</p> 
<p>This price boost renewed confidence in the project after declines last year mirrored the overall bearish crypto asset market. The rally highlighted that fundamentals remain strong due to the essential blockchain infrastructure improvements enabled by ENS.</p> 
<p><strong>Previous Price Highs and Future Potential</strong></p> 
<p>ENS hit its all-time highest price of $83 in November 2021 before broader crypto markets crashed. While the recent Buterin spike has settled down, his vocal support re-establishes ENS’s core value.</p> 
<p>Overall, as Buterin continues contributing guidance to the ENS project, further adoption and integration of the blockchain naming system appears inevitable. This will drive practical, real-world usage of Ethereum by making applications more accessible. After this latest surge, future price forecasts look optimistic as developers expand platform usability.</p> 
<p>You may also be interested in:</p> 
<ul> 
 <li><a href="https://captainaltcoin.com/litecoin-dips-11-alongside-other-altcoins-analyst-says-ltc-could-likely-plunge-to-this-level/" target="_blank">Litecoin Dips 11% Alongside Other Altcoins, Analyst Says LTC Could Likely Plunge To This Level</a></li> 
 <li><a href="https://captainaltcoin.com/why-is-mav-price-up-today/" target="_blank">Why is MAV Price Up Today?</a></li> 
 <li><a href="https://captainaltcoin.com/cardano-adas-exciting-future-investments-surge-in-polkadot-dot-and-borroe-finance-roe/" target="_blank">Cardano (ADA)’s Exciting Future; Investments Surge in Polkadot (DOT) and&nbsp; Borroe Finance ($ROE)</a></li> 
</ul> 
<div class="bigofferblock margincenter mb30 pt20 pl20 pr20 " style=""> 
 <div class="col_wrap_two mb0"> 
  <div class="offerbox_big_wrap flowhidden"> 
   <div class="image position-relative text-center col_item mobileblockdisplay img-maxh-350 img-width-auto"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> <img decoding="async" class="lazyload" data-skip-lazy="" data-src="https://captainaltcoin.com/wp-content/uploads/thumbs_dir/etoro-ca-1-oyc386si1bdrmhrff7xex5ngu4zikfy3ei6bk0rbb6.png" width="500" alt="We recommend eToro" src="https://captainaltcoin.com/wp-content/themes/rehub-theme/images/default/blank.gif"> </a> 
   </div> 
   <div class="product-summary col_item mobileblockdisplay"> 
    <h3 class="product_title entry-title font150 lineheight25 mb30" id="a-class-re_track_btn-href-https-captainaltcoin-com-go-etoro-target-_blank-rel-nofollow-sponsored-span-we-recommend-etoro-span-a"> <a class="re_track_btn" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> <span>We recommend eToro</span> </a> </h3> 
    <div class="rev_disclaimer font70 greencolor lineheight15 mb20">
     <strong>74% of retail CFD accounts lose money.</strong>
    </div> 
    <div class="buttons_col mb25 rh_big_btn_inline"> 
     <div class="priced_block clearfix"> 
      <div> <a class="re_track_btn btn_offer_block" href="https://captainaltcoin.com/go/etoro/" target="_blank" rel="nofollow sponsored"> Visit eToro Now </a> 
      </div> 
     </div> 
    </div> 
    <div class="bigofferdesc">
     <i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Active user community and social features like news feeds, chats for specific coins available for trading. 
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>Copy trading: allows users to copy thetrades of leading traders, for free.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
     <br><i class="vertmiddle mr10 rhicon rhi-check-circle-solid greencolor font130"> </i>eToro offers staking for certain popular cryptocurrencies like ETH, ADA, XTZ etc.
    </div> 
   </div> 
  </div> 
 </div> 
</div> 
<p>The post <a href="https://captainaltcoin.com/why-is-ethereum-name-service-ens-surging-vitalik-buterin-calls-token-super-important/">Why Is Ethereum Name Service ENS Surging? Vitalik Buterin Calls Token “Super Important”</a> appeared first on <a href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Why Is Ethereum Name Service ENS Surging? Vitalik Buterin Calls Token “Super Important”

Table of Contents

CaptainAltcoin

Other articles published on Jan 4, 2024

The Top 5 Cryptos Every Investor Should Consider for 2024

3 Tokens That Can Double Your Investment In A Month – SHIB, Retik, SOL

Bitget Lists ZKfair (ZKF) – Community Owned Layer 2 in its Innovation Zone

dYdX Reveals Post-Mortem Findings: Identifies Attacker and Considers Legal Measures

'Rich Dad Poor Dad' Author Highlights Bitcoin Halving 2024 as Crucial Event

Passive Income with Cerra.io: Join the Future of Cardano DeFi

Join our free newsletter for daily crypto updates!