What is the Ethereum Name Service token?

The Ethereum Name Service, abbreviated as ENS, represents a unique aspect of the Ethereum ecosystem. It operates as a fundamental component that enhances the usability and accessibility of crypto addresses.

The core function of ENS lies in its ability to provide human-readable names for crypto addresses and decentralized domain names. This feature drastically simplifies the process of sending and receiving digital assets, eliminating the need for complex, alphanumeric strings.

Underpinning the ENS is an Ethereum token, which serves as the governance mechanism for the protocol. This token allows holders to participate in the decision-making process, ensuring that the ENS remains adaptable and responsive to the evolving needs of its users.

The governance structure of ENS is designed to be democratic and inclusive. Token holders can propose changes to the protocol, which are then voted on by the community. This process ensures that the ENS evolves in a way that benefits all users.

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