Research Summary: Ethereum Name Service: the Good, the Bad, and the Ugly

Ok… thanks for the info

Well it’s a nice one from you @Favvz and I also gained some important informations from @Freakytainment write up. Thank you guys.

Well I’d like to make my own little contribution here, I prefer the DNS system and this is my reason.
DNS makes sure that the internet is not only user-friendly but also operates efficiently, loading whatever content we request in a timely manner. It serves as one of the pillars on which the internet is built. Without it, in order to access the content we want, we would be forced to memorize extensive lists of numbers (IP addresses).
The DNS system have the ability to map out a new IP address if the host’s IP address changes is one of DNS’s two most notable advantages. compared to an IP address, are simpler to memorize. enabling domain name hierarchy usage by companies without regard to IP address allocation

DNS SYSTEM WORKING STEP BY STEPWORKING SYSTEM

Getting website information

Contact the Recursive DNS Servers

Consult the Reliable DNS Servers.

Well these are the books and videos I read, that made me have a rethink.

Reference

Also found out it can be used for PS4 speed stuff, though didn’t go deep on that

ms_dns.pdf (267.3 KB)

I read the following on net also, not a personal write-up

Why Are DNS Servers Beneficial?

A Domain Name System is a centralized mechanism to resolve or give the IP addresses a domain name. But what are the benefits of DNS servers? Are DNS servers crucial for web security?

Here are the advantages of DNS servers:

DNS is the only system allowing online users to use and browse the internet.

DNS servers help you find the website with the use of your web browser (like Chrome, Safari, Firefox, Internet Explorer) by typing the name of the website.

You don’t need to memorize numbers. Instead of IP addresses or a string of numbers, you can enter the domain name or URL, which makes searching a lot easier.

DNS servers make online transactions possible, even with the use of innovative features like AI-based searches and chatbots.

DNS servers enable you to identify the data service’s technical functionality, defining the DNS protocol, detailed data structures specification, and data communication exchanges. DNS adds an extra layer of security.
Fault tolerance and proper load distribution of web hosting services to multiple servers enable multiple hostnames corresponding to a single IP address.

DNS enhances the security of DNS infrastructure, which is essential for dynamic, secure updates.

Your readers or customers experience more reliable, secure, and faster online transactions when visiting your website.

This seems to contradict your own point above. Could you please explain?

Thought I deleted that, I read some documents on ENS and felt it was better… but after making some deep research and also watching some educational tapes on the topic last night, I came up with a different conclusion.

Very interesting read @Favvz. It shines a lot of light into an area I previously didn’t think of often.

My primary concern was whether such Ethereum names could make tracking the transactions of their owners easier.

I found a Decrypt article that seems to answer that question. The research there successfully identified the real identities of several ENS users.

In our investigation we found it possible to work out where people would be in the future, see insights into business deals and know just how much money people really have—all by observing public blockchain data.

Most users try to get around the privacy risk by connecting their domain names with a relatively inactive address but the address used in registering the domain could still be tracked. The article further mentions that

The issue here is that Ethereum names make it trivially easy for criminals to create a list of people that have the most amount of Ethereum and likely have a crypto wallet… It’s possible to see people’s salaries too, when they’re paid in Ethereum, or in token form.

It is an interesting thought weighing the pros and cons of ENS against the user’s responsibility of segregating public/private transactions.

For further readings on privacy, ENS and tips on maintaining anonymity when interacting with the Blockchain. Blockchain is Watching You: Profiling and Deanonymizing Ethereum Users.

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Good day everyone, today we’d be talking about Ethereum name service, The Good, the Bad and the Ugly.

What is Ethereum Name Service (ENS)?

According to ens domain doc , The Ethereum Name Service (ENS) is a distributed, open, and extensible naming system based on the Ethereum blockchain. ENS’s job is to map human-readable names like ‘alice.eth’ to machine-readable identifiers such as Ethereum addresses, other cryptocurrency addresses, content hashes, and metadata. ENS is implemented on numerous test networks in addition to the Ethereum main network. The ENS deployment will be used on the network you are talking with if you use a library like the ensjs Javascript library or an end-user application, which will both automatically detect the network you are interacting with. Use the ENS Manager App or any of the numerous ENS-enabled applications on our homepage to test out ENS right away.
Registrars, smart contracts that control top-level domains like “.eth” and “.test,” are in charge of defining the policies governing the distribution of their subdomains. Anyone can get domain ownership for their own use if they abide by the restrictions imposed by these registrar contracts. Additionally, ENS allows users to import their existing DNS names for use with ENS.
Owners risk permanently losing their cryptocurrency if it is sent to the incorrect address, but Ethereum Name Service intends to let users build their own custom wallet addresses to lessen the likelihood of this happening. Owners risk permanently losing their cryptocurrency if it is sent to the incorrect address, but Ethereum Name Service intends to let users build their own custom wallet addresses to lessen the likelihood of this happening.
After a protracted downward trend, ENS is now beginning to show signs of recovery after surpassing a significant milestone of two million registered domains.
In order to prevent this and give a simple method of distributing wallet addresses, Ethereum Name Service was created. Users can make their own customized wallet address, just as a social media handle or a customized URL link. Ethereum Name Service is now the most widely used blockchain domain standard. At the time of writing, it boasts more than two million addresses and almost 500,000 users. For example, someone could buy the wallet address Trendy.ETH. Once registered with a wallet, investors can send or request funds by using this address. ENS also supports ‘reverse resolution’, making it possible to associate metadata such as canonical names or interface descriptions with Ethereum addresses.

ENS ARCHITECTURE

ENS has two principal components: the registry and the resolvers

Image source: https://docs.ens.domains/

Image source: https://docs.ens.domains/

ENS REGISTRY

The ENS registry is made up of a single smart contract that keeps track of every domain and subdomain and holds three vital bits of data for each of them:

:white_check_mark:The website’s owner
:white_check_mark:The domain’s resolver

A smart contract or an external account (a user) can both be the owner of a domain. A registrar is just a smart contract that controls a domain and grants users that adhere to certain contract-defined rules subdomains of that domain.

Resolving a name in ENS is a two-step process:

First, ask the registry what resolver is responsible for the name, and second, ask that resolver for the answer to your query.

This is the price chart :chart_with_downwards_trend: of the ENS

Source: Coinmarket cap

DOMAIN NAME SYSTEM

According to Wikipedia

The Domain Name System is the hierarchical and decentralized naming system used to identify computers reachable through the Internet or other Internet Protocol networks. The resource records contained in the DNS associate domain names with other forms of information.

HOW DOES DNS FUNCTION?

DNS servers translate URLs and domain names into computer-friendly IP addresses. They convert data into something a computer can understand in order to locate a webpage. DNS resolution refers to the translation and lookup procedure.

Your computer initially performs a DNS query using a DNS client, which is generally found in a Web browser, to determine the IP address associated with a domain name. A recursive DNS server, also referred to as a recursive resolver, receives the query after that. Recursive resolvers are often run by Internet Service Providers (ISPs), such as AT&T or Verizon (or any other third-party), and they are aware of which further DNS servers to query in order to match a domain name with an IP address. Authoritative name servers are the ones that truly hold the required data.

TYPES OF DNS SERVERS

A DNS resolution involves a number of different server types. The four name servers are listed below along with a description of how a query moves through them. They offer the desired domain name or pointers to alternative name servers.

  1. Recursive Server

  2. TLD Server

  3. Root name Server

  4. Authoritative name Server

Reference: Ethereum Name Service Price Prediction | Is Ethereum Name Service a Good Investment?

Price prediction for ENS

https://docs.ens.domains/ this explains almost all on ENS Documentation

See more on the working system if DNS