The Ethereum Name Service (ENS) is a domain name service (DNS) similar to the Internet's DNS system. It helps users to find Ethereum addresses via human-readable names, rather than complex hexadecimal characters.
Who uses Ethereum Name Service?
ENS is used by individuals and organisations within the Ethereum ecosystem who want to simplify interactions with blockchain addresses. By registering an ENS domain, users can associate their wallet addresses, smart contracts, and decentralised websites with a unique, human-readable name to streamline transactions and interactions.
Who created Ethereum Name Service?
ENS was co-founded by Nick Johnson and Alex Van de Sande, both former members of the Ethereum Foundation. Their expertise in software engineering and design played a pivotal role in developing ENS, which was officially launched in 2017 as part of the Ethereum Foundation before becoming a separate project in 2018.
How does Ethereum Name Service work?
ENS operates through a system of smart contracts on the Ethereum blockchain, with three primary components: the registry, resolvers, and registrars.
The registry maintains a list of all registered domains and stores essential details, including domain ownership, associated resolvers, and caching time-to-live settings. Resolvers are responsible for translating domain names into corresponding addresses or resources, enabling seamless interactions within the Ethereum ecosystem.
Registrars, on the other hand, are smart contracts that govern the allocation of subdomains. Users can register a unique ".eth" domain through the ENS application, linking it to their Ethereum address. This process requires interacting with the ENS registry and configuring a resolver to associate the domain with the desired address or resource.
For example, if David owns the ENS name “david.eth,” you can easily send him cryptocurrency by entering that name into your wallet. ENS will automatically direct the payment to his correct Ethereum address in the background.
What is the native cryptocurrency of Ethereum Name Service?
The native cryptocurrency of the Ethereum Name Service is ENS. Launched in November 2021, the ENS token functions as a governance token, empowering holders to participate in key decisions regarding the protocol’s development and policies.
Security incidents
Ethereum Name Service has experienced the following security incidents:
Critical Vulnerability in DNSSEC Registrar Code (Non-Deployed) (March 2023)
A critical vulnerability was disclosed to the project team in a version of the DNSSEC registrar code that had not yet been deployed. The bug would have allowed any user to claim or update a DNSSEC name owned by any other user. Source: ENS DAO Governance Forum
Potential Governance Attack Mitigated (March 2024)
The ENS DAO compensated the security team 'blockful' for identifying a critical governance vulnerability that could have allowed for a potential ~$150 million theft and protocol capture. This proactive disclosure and mitigation work led to the implementation of the Security Council to enhance the ENS DAO's security. Source: Tally.xyz
ENS NPM Packages Compromise (November 2025)
Multiple ENS packages were temporarily compromised as part of the large-scale "Sha1-Hulud: The Second Coming" npm supply-chain attack. This self-replicating worm was designed to steal developer credentials and exfiltrate data, which included a "dead man's switch" payload that threatened to delete user data if its command-and-control infrastructure was cut off. Source: StepSecurity
The above list of incidents may not be exhaustive. As always, it’s important that you do your own research to ensure you’re comfortable with an asset’s associated risks before investing in it.
Token supply and concentration
Ethereum Name Service has a maximum supply of 100 million ENS, with 60% in circulation as of January 2026. The top 10 wallet addresses collectively hold ~84.72 million ENS (~84.7% of the maximum 100 million token supply).
Visit this external link to see the distribution among ENS’s top token holders.
Tip
Are you keen to explore Ethereum Name Service a bit more? You can learn about ENS basics and get all the latest cryptocurrency news on Luno Discover.
Want to know how to buy or sell ENS? We’ve got answers in the following help articles:
This information is not intended to be nor does it constitute financial, tax, legal, investment or other advice; nor is it a call to trade. The information is intended as general market commentary for information purposes only. Before making any decision or taking any action regarding your finances, you should consult a qualified Financial Advisor.