ETH address can be understood as an address for your Web3 wallet or ETH wallet. This wallet can be used to track how many cryptocurrencies or NFT you hold, you can use the wallet to make transactions in the Web3 world and even connect to dapp or Web3 applications.
Remember the NFT airdrops? One has to share ETH address to participate in an airdrop event. You can get a free ETH address of 42 characters that looks something like this - 0x7382s1sd9g012. It can be tough to remember such a complex string every time you want to make a transaction or connect to a dapp
In case you made a mistake in entering your ETH address, the money will get transferred to someone else. So stakes are definitely high. To save us the trouble, there is something called ENS or Ethereum Name Service. It gets us an easy-to-remember custom ETH address - like soni.eth, in exchange for some Ether (Ethereum’s native token).
You might have seen many Twitter users adding .eth to their names. They have bought that custom ETH address from ENS.Â
How did it all start?
Ethereum Name Service was started in 2017 by Alex Van de Sande and Nick Johnson from the Ethereum Foundation. Later, ENS was spun off as a separate organization in 2018. The development of ENS is managed by a Singaporean non-profit True Names LTD.
How to set up your ETH address?
Start with installing an Ethereum wallet. There are dozens of them but some popular ones include Metamask, Coinbase Wallet, and Torus among others. To help you find the wallet that suits your needs, Ethereum has some good filters on this page: https://ethereum.org/en/wallets/find-wallet/
Setup the wallet and note down your recovery phrase and password carefully. Once done, you will find your unique ETH address by below Account 1, which you can copy by clicking on it.
You can now connect this public address to a custome ETH address by going on ENS website: https://app.ens.domains/
Search for the name that you want to register.
The site will show the availability of requested ETH address, for you to make a purchase.
Currently, 1 year registration of yattisoni.eth is around $42.50. Interestingly, the price goes up if we search for a smaller word like soni.
Last week, I ran a poll on Twitter to gauge how many people have an ETH address. Out of 88 votes, only 29.5% people have an ETH address.
Hence, decided to add a ‘How to setup ETH address’ section. Hope this edition will tip the scale a little.
That’s all from E for ETH address. If you recall any other Web3 terms starting from the letter E, please leave a comment and I will include them in later editions.Â
Acknowleding the elephant in the room. This edition was shipped a day late because I have been a little unwell. Apologies friends, next Sunday the edition will reach your bright and early.
Have a good week! If you haven’t joined the social groups, this is as good a time as ever.
To the point. Loved it :)
That's a simple and straightforward explanation Yatti :)