Ethereum Name Service, known as ENS, is designed to operate as an innovative, decentralized naming system built on the Ethereum blockchain. Its core function is to translate Ethereum addresses, which are typically complex alphanumeric strings, into easily readable formats like 'john.eth.' This bi-directional conversion also associates metadata with these user-friendly Ethereum addresses, enhancing accessibility.
ENS operates using two primary smart contracts: the ENS registry and the resolver. The ENS registry records and maintains information about domain names, while the resolver translates these domain names back to machine-readable addresses and links them to their corresponding entities, be it users, websites, or addresses.
As per the project, ENS plays a key role in the digital domain naming space by transferring the concept of Domain Name Service (DNS) to the decentralized Web3 environment. Its unique value reportedly lies in its ability to simplify blockchain technology for users through user-friendly links, making it less intimidating and more accessible.