Ethereum Name Service Makes Ethereum Wallet Addresses Easier

Ethereum Name Service (ENS) is a revolutionary system established on the Ethereum Blockchain for naming wallets. It provides a user-friendly solution to convert intricate Ethereum wallet addresses into easily readable names, akin to traditional domain name services for websites. This article aims to address two common queries: What is Ethereum Name Service (ENS) and how can one purchase Ethereum Name Service (ENS) with TRY.
What is Ethereum Name Service (ENS)?
Ethereum Name Service is a decentralized naming system designed to simplify Ethereum wallet addresses for enhanced accessibility and user-friendliness. Just like traditional domain name services convert IP addresses into memorable website names, ENS transforms the random letters and numbers of Ethereum wallet addresses into recognizable words or phrases. This streamlines the process of sharing and interacting with Ethereum wallet addresses, thereby improving usability for individuals and businesses alike. Access NEWSLINKER for the latest technology news.
ENS operates through smart contracts on the Ethereum Blockchain, specifically registry and resolver contracts. The registry maintains a comprehensive list of all domain names and subdomains available through ENS, including crucial information such as domain ownership and associated resolvers. The resolver contract plays a key role in translating human-readable ENS domain names into corresponding Ethereum wallet addresses and vice versa, facilitating seamless interactions within the Ethereum ecosystem.
To acquire an ENS domain name, users must utilize the ENS application to search for available domain names. Upon identifying a desired name, users can initiate the registration process by confirming two transactions from their linked Ethereum wallet addresses. The first transaction kickstarts the registration request, while the second transaction finalizes the registration within a seven-day period. Users also have the option to set the lease duration for domain names, granting access for a specified timeframe.
One of the primary advantages of ENS is its ability to simplify Ethereum wallet addresses, making them more recognizable and memorable for users. Additionally, domain owners can create and manage subdomains, offering flexibility and customization options. By facilitating the sharing and interaction of Ethereum wallet addresses, ENS enhances usability and accessibility within the Ethereum ecosystem.
ENS follows a hierarchical system akin to traditional domain name services, enabling domain owners to oversee subdomains. This hierarchical structure allows for the creation of nested subdomains, providing domain owners with increased customization and organization opportunities. For instance, a domain owner can establish subdomains like learn.domain.eth and ens.learn.domain.eth to effectively categorize and manage their addresses.
The governance of ENS is supported by the ENS coin, which enables holders to propose and vote on decisions regarding the governance and development of the protocol. The ENS coin plays a vital role in participating in the decentralized autonomous organization (DAO) responsible for overseeing the Ethereum Name Service protocol, ensuring transparency and community involvement in governance processes.
How to Buy Ethereum Name Service (ENS) with TRY?
Binance TR is the optimal cryptocurrency exchange for investors in Turkey seeking to purchase Ethereum Name Service (ENS). On Binance TR, which facilitates quick account creation, users can trade over 100 cryptocurrencies, including ENS. To buy Ethereum Name Service (ENS) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?
Creating an account on Binance TR is a straightforward process. Visit trbinance.com and proceed from the “Create Account” step. In the initial account creation step, provide basic information such as email address, phone number, name-surname, date of birth, nationality, and T.C. identity number.
After entering all requested information accurately, undergo email/SMS verification to confirm and validate the details. Subsequently, proceed to the second step, identity verification (KYC).
How to Verify an Account on Binance TR?
Identity verification on Binance TR is a crucial security measure that must be completed before engaging in cryptocurrency trading and during account setup. This verification process safeguards both the user and the cryptocurrency exchange. Identity verification can be performed via phone or through the official Binance TR website. Note that a mobile phone is required for identity verification on the website.
On the Binance TR website, hover over the “Profile” option at the top right, select the “Identity Verification and Limits” option from the drop-down menu, and then click on “Verify.” Subsequently, scan the QR code displayed with your phone’s camera and continue the process on your phone. If scanning the QR code is not feasible, opt for the “Copy URL” option to receive the identity verification address on your phone via SMS.
Upon entering the address on your phone or scanning the QR code, a screen will open prompting you to tap on the “Identity” option to proceed. Subsequently, select the document type that aligns with your identification, upload photos of the document’s front and back sides, and complete the process by capturing a selfie. Ensure that all steps are completed accurately for swift identity verification.
How to Deposit TL on Binance TR?
Depositing TL into your Binance TR account is a seamless process that can be done from all major banks. Users can deposit and trade TL 24/7 using Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, Türkiye Finans accounts without any interruptions. For other banks, deposits up to 50,000 TL can be made 24/7 via FAST, while deposits exceeding 50,000 TL from other banks are processed during EFT hours.
To deposit funds into your Binance TR account, visit trbinance.com, hover over the “Wallet” option at the top left of the homepage, and select the “Deposit” option from the drop-down menu. Subsequently, choose your preferred bank from the displayed options to continue with the deposit process. For banks not integrated with Binance TR, click on the “Other Banks” option to proceed.
For instance, if selecting Vakıfbank, an account name and IBAN address will be provided for wire transfer, EFT, or FAST transfers. Utilize the displayed information to transfer the desired amount into your Binance TR account. Upon completion of the transfer process by your bank, the deposited funds will be automatically reflected in your Binance TR account wallet.
How to Buy ENS Coin with TL on Binance TR?
Following the deposit process, purchasing ENS coins with TL can be done by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website. Upon selecting this option, enter “ENS” in the search section, proceed to the ENS/TRY page, and input the desired price and quantity of ENS coins for purchase. Complete the transaction by clicking on the “Buy ENS” button.
What is Binance TR?
In 2020, Binance, the world’s largest cryptocurrency exchange by trading volume, launched its platform Binance TR specifically for cryptocurrency investors in Turkey. Headquartered in Istanbul, Binance TR leverages Binance’s technology, security measures, and liquidity provided through Binance Cloud infrastructure to facilitate both fiat-to-crypto and crypto-to-crypto trading services. Users in Turkey can deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR.
Users on Binance TR have access to market-leading spot trading liquidity, an advanced matching engine, robust security protocols, custody solutions, and risk controls supported by Binance’s core functionalities.
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Disclaimer: The information in this article does not serve as investment advice. Investors should be aware of the high volatility and risks associated with cryptocurrencies and conduct their own research.