About ENS
Ens is the most widely integrated blockchain naming standard.
An ENS domain is a name stored on the blockchain. It has many uses, including hosting a decentralized website and replacing long crypto wallet addresses. These domains are censorship-resistant and can be registered for several years. However, they are not free. Every time you want to update the record, you must pay an ETH (Ethereum) gas transaction. This process is typically manual, but there are now tools like Fleek that make this process automatic.
ENS domains are governed by a smart contract. The registrar is the entity that registers the domains. It issues subdomains according to the rules defined in the contract. This process is automated and secure. The domain name must have at least three characters and can be up to 255 characters long. The ENS system consists of two components: an ENS registry and an ENS resolver. The registry maintains records about registered domains and their owners. The resolvers act as intermediaries between the two parties and translate name to address.
ENS domains can be registered by using ETH stored in an ETH wallet. This process takes a couple of transactions. The first step is to connect to the Mainnet with a compatible browser. Once you have done that, you can register your desired ENS domain name. The next step is to choose the registration period. ENS domains, just like dot com domains, can be registered for one year, two years, or more.
In a nutshell, ENS is a name and lookup service built on the Ethereum blockchain that allows crypto users to translate their machine-readable addresses to human-readable ones. No more copying and pasting long wallet addresses. Use your ENS domains name to store all of your addresses and receive any cryptocurrency, token, or NFT.
From another perspective, ENS domains can be bought and sold (flipped) just like the dot com domains. The proper name can be sold for huge profit.
How much do ENS domains cost?
Yearly renewals cost $5/year for names that are 5 characters or longer. 4 character names cost $160/year, and 3 character names cost $640/year. Fees are paid in ETH. The ETH/USD exchange rate is set by the Chainlink ETH/USD oracle
How to buy an ENS domain and ENS domain registration
ENS domains can be purchased/registered at https://app.ens.domains. Whilst many of the popular names may have already been registered, you can still purchase on secondary marketplaces such as OpenSea, Looksrare, X2Y2, and ENS.Vision to name a few.
Rex Lexington Labs has a collection of approximately 80 ENS domain names, some of which are available for sale or trade.
Below are a few from our collection:
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