ENS Labs proposes that the Ethereum Title Service (ENS) be expanded to Layer 2 (L2), and your complete train be known as ENSv2 from this level ahead.
The corporate isn’t solely transferring the basic parts of the ENS protocol, however they’re additionally transferring their intensive experience to Web3 and conducting a complete restructuring train.
Via a reassessment of the prime segments pertaining to ENS, the corporate is remodeling the protocol into being decentralized and concurrently adopting recent use instances, together with incorporations and chances that have been beforehand restricted by the constraints of the Ethereum mainnet.
From the time of its introduction in 2017, ENS has remodeled from being solely an on-chain naming instrument, to change into an important phase associated to the web’s infrastructure. It has seamlessly linked customers as a significant bridge to web3, with tens of millions of.eth names registered and hundreds of integrations, together with wallets, dapps, TLDs, and browsers. The integrations with pioneers akin to Coinbase, GoDaddy, Farcaster, Uniswap, and field have totally demonstrated the power and adaptability of ENS.
Ethereum’s development carefully aligns with the developments in its underlying applied sciences. The creation of L2 companies for community enchancment primarily goals to hurry up transactions whereas decreasing gasoline costs. The potential of the L2s has shifted customers’ consideration to the simpler platforms, akin to CCIP-Learn and EVM Gateway. In relation to the transformation, ENS has carried out the position of a pacesetter.
As of at present, ENS Labs is captivated with its proposal to transition a portion of the basic ENS functionalities from the Ethereum mainnet to an L2 community. Using L2s will enhance connectivity with ENS for a wide range of functions. Together with its members, the corporate is deeply concerned in learning varied choices for addressing ENS necessities.
Within the case of ENSv2, A major lower in gasoline bills will consequence from transferring.eth registrations and renewals to a Layer 2 community. This replace not solely hurries up ENS but in addition makes it economical.
Moreover, it would allow higher management and customization. The corporate’s expertise with the Title Wrapper, a brand new ENS contract, led them to the conclusion {that a} hierarchical registry system would grant ENSv2 better flexibility.
Moreover, ENSv2 enhances multi-chain interoperability. In different phrases, the.eth names will likely be extra seamlessly built-in throughout a wide range of blockchains with the implementation of ENS on Layer 2.
