ENS is on the rise. In November 2021, the protocol Ethereum Name Service launched its ENS governance token. Recently, it recorded a significant increase after receiving praise from Vitalik Buterin, the co-founder of Ethereum.
ENS records 50% increase
Wednesday January 3, Vitalik Buterin has sharing on X sound excitement about the Ethereum Name Service protocol. According to him, such a protocol is necessary on layers 2 of Ethereum.
“All L2s should work on CCIP (trustless, merkle-proof) resolvers, so that ENS subdomains can be registered, updated and read directly on the L2s. »
To which he added “ENS is super-important, it must be affordable! ». Neither one nor two, this declaration had a significant impact on the price of the ENS token.
Indeed, between January 3 and 4, the token went from 10 to 15$before falling back to around $14 at the time of writing these lines.
As a reminder, ENS is a protocol that allows the use of domain names in cryptocurrencies. So, rather than transmitting a crypto address in the usual format, you can link this address with a more human-readable domain name, for example “journalducoin.ens”.
An essential functionality in a quest for mass adoption. Indeed, the form of addresses can be off-putting at first glance.
At the start of 2023, the ENS protocol had already been the focus of attention. Indeed, many domain names were sold for crazy prices on the secondary market. A craze that has since died down.