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Ethereum Name Service is a decentralized naming system built on the Ethereum blockchain that maps human-readable names like “okx.eth” to cryptocurrency wallet addresses and other machine-readable identifiers like content hashes and metadata.

It is widely considered the Web3 equivalent of DNS (Domain Name System), which maps human-readable names like “okx.com” to server IP addresses and provides the domain names used by most websites today.

ENS allows users to set up reverse records, which lets anyone view the ENS domain name attached to a particular wallet address. Top-level domains, like “.eth” and “.crypto,” are owned by “Registrars,” which are smart contracts that specify the rules regarding the allocation of their subdomains. Like with DNS, anyone can obtain an ENS domain name and set up whichever subdomains they please, such as “store.okx.eth”.

ENS is the governance token used in governing the ENS DAO, which is the decentralized organization that determines what changes are to be made to the protocol. ENS tokens have a total supply of 100 million.