ENS Labs, the company behind the ENS domain name protocol, has proposed a comprehensive upgrade to the Ethereum Name Service called ENSv2. This upgrade involves migrating the service to a layer 2 network. The main reason behind the ENSv2 is to enhance scalability and decrease gas fees by removing major functionalities from the Ethereum mainnet to the layer 2 network.
Layer 2 Upgrade
The upgrade will result in effective management of .eth domain names, including managing subdomains and configuring resolvers, with the introduction of a “hierarchical registry system.” Nick Johnson, lead developer and founder of ENS Labs, stated,
ENSv2 will introduce a hierarchical registry system to .eth name management. Nameholders will have access to a unique name registry, where they will be able to manage subdomains and configure resolvers.
According to the announcement, ENS offers .eth name service, a much simpler alternative to traditional and lengthy addresses. Additionally, adopting L2 will make ENS more accessible to many users and enable new integrations because of the reduced gas fees for .eth name registration and renewal. Reports stated that the upgrade could also improve multi-chain interoperability, resulting in ENS’s increased utility and reach across different ecosystems.
ENSv2 Migration Plan
Khori Whittaker, executive director at ENS Labs, said in an interview that the project was considering using technology from the layer-2 chain development kit, ZK Stack from Matter Labs, the primary developer behind the layer-2 solution zkSync.
New Era for Ethereum: P2P.org Introduces Restaking API PlatformAlthough ENS Labs has yet to make a clear statement, it has released a set of requirements for selecting the L2 network. The migration will proceed in different phases regardless of the L2 network. This was done to minimize disruption for wallets, DApps, and users.
Earlier this month, Celo, a layer-1 blockchain, concluded its search for a suitable layer-2 blockchain after 8 months and settled on Optimism.
