📄What is this whitepaper about?

A cryptocurrency utility token contributes to a given ecosystem by serving as a medium of exchange providing certain utility functions. It allows the user to access various products, services or other features and/or participate in the system of governance within the ecosystem.

The tokenization market is booming and has established itself as a natural alternative for individuals and businesses looking for alternative modes of offering products and services. Historically, small to medium-sized businesses and content creators have faced tremendous hurdles in the traditional economy. In contrast, the tokenization market is a marketplace where greater opportunities are made available to those without the support and benefits provided by powerful, well-established institutions.

In addition to the tokenization market, there is a complementary market aimed at developing circular economies for more and more companies and businesses. Furthermore, both public and private sectors may make use of asset tokenization tools to realize their vision for sustainability, utilizing native tokens as a direct communication channel. Thus, the tokenization market enables holders to engage in the protocol's governance by voting, rewarding positivity and interacting with members of the community.

This White Paper explains the concept of issuing the $EDNS for developing, implementing, and future enhancement of the Ether Domain Name Services (EDNS) project on the decentralized network.