Ethereum Name Service (ENS) names are far more than just domain names for your website, and their implementation might herald a more significant shift in the website’s entire structure. ENS names may be used as the address of your website, as well as your identity, wallet, payment service, and a variety of other things.
What Is Ethereum Name Service (ENS)
When you search for a website, you don’t enter an IP address such as 8.9.3.76.9.43. Instead, you enter a domain name such as fashion.cfd. A domain name’s role is to make it easy for humans to navigate the internet using an easy-to-remember name instead of an IP address.
Similarly, ENS works towards removing the complexity of the Ethereum blockchain to make it easier for transactions to happen. In simpler words, ENS enables a safe and transparent mechanism to address resources on and off the blockchain with simple, readable names.
Similar to the IP address/domain name relationship, the ENS replaces the requirement for humans to fill out and recognize ETH addresses like 0x4abc786h22cd… with a .eth name like clothing.eth. It is also compatible with smart contract addresses and swarm-hosted web pages.
It’s Easier To Use A Domain Name For Payments
ENS eliminates the need to copy lengthy, hexadecimal addresses by making them short and simple. You will also be able to make cash payments to the domain name using ENS wallets.
After purchasing an ENS domain, you can point to whatever funds you choose with an ENS wallet and create subdomains and allocate them as needed.
Since ENS is an entirely decentralized system, new ENS domains can be created in new domain extensions like .CFD. These names are created and transacted on the Ethereum blockchain.
Why .CFD Makes Sense For ENS Wallets?
CFD is a short, smart, three-letter domain extension with tons of available keywords, names, brands, and more available for registration. .CFD is the perfect, innovative domain extension for your ENS wallet!
- Names are displayed clearly: If a user selects reverse resolution in the ENS settings, it will display their registered name instead of an Ethereum address in the smart wallet making it easy to recall a wallet address when sending payments.
- Reduces costly errors: Using ENS wallet names instead of cryptographic addresses eliminates the potential risk of sending funds to the wrong address.
- Accounts can be easily found and reviewed: Anyone can use Etherscan to search the number and value of names owned by any Ethereum account using an ENS-registered name.
- Names can be sold and traded: Since ENS-registered names are non-fungible tokens, they can be purchased and traded on NFT markets.
.CFD As An ENS Wallet Domain Name
Why should you use .CFD for your ENS wallet?
- ENS translates difficult to read Ethereum addresses or cryptocurrency addresses into simple names. Therefore, a name with a short .CFD name will be easy-to-read and remember with an ENS wallet name such as wallet.cfd
- Users can register a unique name with the .CFD domain extension for their wallet address using ENS. It allows the user to transfer funds to a domain name rather than a complex wallet address.
- You can store more than just your cryptocurrency addresses or IPFS sites using ENS. You can also keep your email, bio, avatar, and a variety of additional information.
By expanding its capabilities to work with second-level domain names, Ethereum Name Service (ENS) allows users to register unique and memorable names with new domain extensions such as .CFD as an ENS wallet name for themselves rather than use a long wallet address.
Get your .CFD ENS wallet name today! Visit www.namesilo.cfd to register your ENS wallet name.