Since its launch in 2017, the Ethereum Name Service (ENS) has evolved from a simple on-chain naming tool to a key component in the Internet framework. As ENS continues to grow, ENS Labs recently proposed an exciting plan to extend ENS to Layer 2 (L2) networks, a plan dubbed "ENSv2." This is not only migrating the core part of the ENS protocol to L2, but also fundamentally reimagining the architecture of ENS.
The Evolution of ENS: Connecting the Internet and Ethereum
ENS has accumulated rich experience over the past seven years and has seamlessly integrated with pioneers such as Coinbase, GoDaddy, Uniswap, Farcaster, etc., demonstrating its powerful and flexible functions. Currently, millions of .eth names have been registered, and thousands of applications, wallets, top-level domains (TLDs), and browsers are using ENS to closely connect users to the Web3 world.
As Ethereum continues to advance, the technology built on top of it continues to evolve. The L2 solution acts as an enhancement to the network and is designed to provide faster transaction speeds and significantly lower gas charges. The development of these L2s naturally attracts users and applications towards these more efficient platforms. ENS has been at the forefront of this change through our in-house innovations such as CCIP-Read and EVM Gateway.
Big news: Proposal to extend ENS to L2
Today, ENS Labs is excited to announce that we are proposing to migrate some core ENS functionality from the Ethereum mainnet to the L2 network. Leveraging the strengths of L2, we hope to make ENS more accessible to a wider user base. The ENS Labs team is actively researching and evaluating potential options to ensure the best fit is found for the needs of ENS and its community. Follow the latest research developments in the Governance Forum.
Reimagining ENS: Changes in ENSv2: With the launch of ENSv2, we’re looking forward to bringing some big changes, and here are a few of the highlights we’re most excited about:
Lower gas bills
By moving .eth registration and renewal to the Layer 2 network, we will significantly reduce gas costs, making it more economical to manage your .eth name. This upgrade not only makes ENS more affordable, it also increases speed.
Increased control and customization: As we were building name wrappers, we realized that ENSv2 would be more flexible if it adopted a hierarchical registration system. This means that each .eth name will have its own personal registration system, giving users greater control over name ownership.
Improved multi-chain interoperability
With ENS running on Layer 2, your .eth names will integrate more smoothly across blockchains. This change will make users' operations between different platforms smoother and promote the development of the cross-chain ecosystem.
Future prospects of ENS: The launch of ENSv2 marks a new milestone in the Ethereum name service. This is not only a technological advancement, but also an in-depth exploration of the concept of decentralization. As ENS develops on L2, we look forward to attracting more users and promoting the prosperity of the Web3 ecosystem.
The team at ENS Labs will continue to work hard to ensure that ENS can adapt to changing market needs and provide users with the best experience. We encourage community members to actively participate in the governance forum, share your ideas and suggestions, and let us jointly promote the future of ENS.
Summarize
The launch of ENSv2 is not only an upgrade to the Ethereum name service, but also an important contribution to the entire Web3 ecosystem. With lower gas fees, greater user control, and improved multi-chain interoperability, we believe ENS will be able to attract more users and play a greater role in the future digital world.
In this rapidly changing digital era, ENS will continue to serve as a bridge connecting the Internet and Ethereum, helping users freely explore the world of Web3. Please look forward to the arrival of ENSv2 and let us witness this exciting change together.