ENS Looks to the Future with Layer 2 Transition

ENSv2: A New Era for Ethereum?

The strength of the Ethereum Name Service (ENS) lies in its power and flexibility. As Ethereum continues to evolve with advancing technologies, a potential migration of ENS to a layer 2 solution could enhance its growth and utility.

“As Web3 continues to revolutionize, ENS is committed to providing the best user experience possible,” commented Eskender Abebe, Head of Product and Strategy at ENS, in a recent interview with Cointelegraph.

Ethereum Name Service has announced its intention to transition to a layer 2 solution, as stated in a post on X. This migration proposal will be presented to its decentralized autonomous organization (DAO) for approval.

Introducing ENSv2: The Next Generation of ENS

ENS Labs is excited to announce our proposal to extend the ENS protocol to a Layer 2 network. This move isn't just about migrating parts of the protocol; we're re-envisioning the architecture from the ground up! pic.twitter.com/3xM6owTpKk

— ens.eth (@ensdomains) May 28, 2024

Layer 2 solutions are designed to offer faster transaction times and significantly lower transaction costs. ENS reports that fees on layer 2 are often 100 times cheaper than those on the main Ethereum network, a change that is likely to be welcomed by users.

ENS Labs is considering utilizing the ZK Stack technology from Matter Labs for this transition. Although the specific layer 2 technology has not been finalized, the chosen network is expected to benefit both users and developers.

The proposed update promises improved multi-chain interoperability within the broader blockchain ecosystem. This significant advancement aims to ensure secure connections via a dedicated gateway.

The primary goal of this update is to provide a more affordable and faster solution for managing domain names, making the process more economical. Additionally, the customization of domain names will be enhanced by implementing a hierarchical registry system. This means each .eth name will have its own personal registry, giving users more control over their domain name ownership.

“ENSv2 will introduce a hierarchical registry system for managing .eth names. Name holders will have access to a unique name registry where they can manage subdomains and configure resolvers,” explained Nick Johnson, founder and lead developer at ENS Labs.

This initial announcement promises significant advancements but marks only the beginning. The proposal will initiate extensive collaborative deliberations among project stakeholders regarding the future direction of the protocol.