Etymology
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frankincense (n.)
aromatic gum resin from a certain type of tree, used anciently as incense and in religious rituals, late 14c., apparently from Old French franc encense, from franc "noble, true" (see frank (adj.)), in this case probably signifying "pure" or "of the highest quality," + encens "incense" (see incense (n.)).
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*kand- 
also *kend-, Proto-Indo-European root meaning "to shine."

It forms all or part of: candela; candelabrum; candescent; candid; candidate; candle; candor; chandelier; chandler; frankincense; incandescence; incandescent; incendiary; incense (n.) "substance producing a sweet smell when burned;" incense (v.1) "to provoke, anger."

It is the hypothetical source of/evidence for its existence is provided by: Sanskrit cand- "to give light, shine," candra- "shining, glowing, moon;" Greek kandaros "coal;" Latin candere "to shine;" Welsh cann "white," Middle Irish condud "fuel."
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