Ethereum has hit this next level of usability and development, as of May 4, with the new Ethereum Name Service (ENS) run through a website. This provides Ethereum users with the ability to cherry pick their name, or even a famous name, add .eth and have Ether sent to them in a much less technical, more familiar way, like sending an email to someone’s address."
Wouldn’t you like to receive your Bitcoins at “yourname.eth”? This new Ethereum address extension option will work with a user’s Ethereum address as a destination or a smart contract, which is Ethereum’s reason extant.
To own a domain, a Vickrey auction is used where bids are sealed and the highest bidder wins, but only pays the bid of the second highest bidder. The top prices, as of writing late on Thursday, include “freemarket.eth” (14,500 ETH) and “exchange.eth” (12,888 ETH).
https://ens.codetract.io/
What is ENS?
ENS is a decentralized name service on Ethereum, built using smart contracts. It enables the resolution of human readable addresses e.g. ethereum.eth into machine readable identifies. You can read more about ENS at their website, wiki and Github
How can I bid for my domain?
A GUI is available for users to bid for their domains. It can be accessed here using Mist, Parity or MetaMask.
