Speculators Jump On New Gold Rush Called Ethereum Name Service

Ethereum Name Service (ENS) launched on mainnet on May 4, 2017. At launch, ENS featured an automated registrar process allowing anyone to easily and cheaply register names ending in “.eth” using an auction process.

The auction system enabled anyone to purchase a .eth addresses of at least seven characters in length. Since its launch over 618,000 auctions have been started, and 3,298,707 ETH have been deposited for bids. The ENS is evolving, and within the next two years, a planned upgrade will allow for auctions of shorter names less than seven characters.

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