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Leading domain service Ethereum Name Service ($ENS) announced on Nov 02 that it’s now transitioning into a decentralized autonomous organization (DAO), facilitated by the launch of an $ENStoken and now seeking DAO delegates. The launch tweet notes that despite most of the things running automatically and nobody being able to tamper with anyone’s registration, there are still things requiring human intervention.

Ethereum Name Service ($ENS) current administration wants “$ENSroot multisig pass over control of the existing $ENStreasury, its future funds, and control of the .$ETHregistrar contract that is in charge of the pricing and registration mechanism for .$ETHnames. The first order of business for the $ENSDAO will be to formally request these from the $ENSroot multisig key holders” The current multi signature trusted model is being retired in favor of a decentralized autonomous organization (DAO) governing via community voted delegates.

Specifically, we wish to have the $ENSroot multisig pass over control of the existing $ENStreasury, its future funds, and control of the .$ETHregistrar contract that is in charge of the pricing and registration mechanism for .$ETHnames to the new $ENSDAO.

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The protocol has already proposed a constitution and requested community members to apply for the DAO delegate positions here. They have also announced that the snapshot for the $ENStoken airdrop was taken yesterday and they are all set to launch it by next week, by which time, the rest of the work will begin also. So, don’t forget to check your wallets next week, if you have registered an Ethereum Name Service ($ENS) in the recent past!

About Ethereum Name Service ($ENS)

Ethereum wallet addresses are complex and human unreadable. This makes it difficult for users to work with them. For instance, if you send funds to an Ethereum wallet, the long random address needs to be typed incorrectly and checked multiple times to establish that it’s the right one. It’s easier to make mistakes there.

Ethereum Name Service or $ENSfixes that problem by using smart contracts, linking the complex human unreadable Ethereum addresses to a simple .eth (amongst other variants) domain. For instance, you can bind the address 0xb4b3351918a9bedc7d386c6a685c42e69920b34d to something.eth. Now, it’s easy to interact and work with.

You don’t have to copy/paste long addresses and hope that everything goes right. Just purchase a simple domain with low fees to start receiving cryptocurrency, assets, and NFTs. The $ENSdomains themselves are ERC-721 compliant NFTs, which can be traded too. You can read how to acquire an $ENSname here.

$ENSdomains already are integrated with a large part of the crypto-ecosystem and growing day by day. Currently, it has compatibility with Coinbase, Rainbow, Trust Wallet, MyCrypto, MetaMask, Huobi, etc. The DApps supporting the domains are Uniswap, Etherscan, Tornado Cash, The Graph, Aavegotchi.

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