The Ethereum Name Service (ENS) announced a significant change to its infrastructure by fully migrating to a Layer 2 solution, citing Ethereum’s inefficiency as the main driver.
The ENSv2 upgrade aims to significantly increase scalability and reduce transaction costs by addressing critical issues that have arisen with the growth of Ethereum.
Since its creation in 2017, ENS has simplified blockchain interactions by mapping long Ethereum addresses to human-readable names like “so-and-so.eth.”
However, with the growth of Ethereum, the costs and limitations have also increased. To resolve these issues, ENS Labs proposes migrating to a Layer 2 network. This move promises to reduce gas fees and improve transaction speeds.
ENSv2 introduces a new hierarchical registration system for managing .eth domain names. Team founder Nick Johnson says this system allows name holders to manage subdomains and configure resolvers efficiently.
“ENSv2 will introduce a hierarchical registry system for managing .eth names. Name holders will have access to a single name registry where they can manage subdomains and configure resolvers,” said Johnson.
Ethereum Name Service migra para l2
The migration to Layer-2 will occur in phases to minimize disruption. The initial phases will focus on changes to the resolution process, ensuring a smooth transition. Users will have the flexibility to move their names between Layer-2 and the Ethereum mainnet, allowing them to choose the ideal balance between cost, security and functionality.
To support the development and deployment of ENSv2, ENS Labs seeks additional funding from the ENS DAO. The proposal includes a request for an annual budget increase of USDC 4 million. This funding will mainly cover hiring more developers and infrastructure costs.
“This funding is crucial for ENS Labs to successfully develop and deploy ENSv2, and to extend .eth to a Layer 2 network,” said the ENS Labs team.
The team developed a framework for evaluating potential Layer-2 networks. Essential requirements include EVM compatibility, censorship resistance, decentralization, and open source availability. Other criteria cover finalization and state updates, security, scalability, developer experience, adoption, and customization.
ENS Labs is considering several Layer-2 technologies, including Matter Labs’ ZK Stack. The release of EIP4844 has made Ethereum-based Layer-2 solutions much more accessible and scalable. Eskender Abebe, head of Product and Strategy at ENS Labs, indicated that this was a significant factor in ENS’ proposal.
Source: https://www.criptofacil.com/ethereum-named-service-migra-para-solucao-de-layer-2-dizendo-que-ethereum-nao-e-eficiente/
