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Ethereum Name Service plans layer-2 migration to reduce gas fees, boost speed

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ENS Labs founder and lead developer Nick Johnson said there will be a hierarchical registry system for managing .eth domain names.

The proposed ENSv2 aims to lower gas fees and improve transaction speed by moving out of Ethereum and transferring to a layer-2 network.

ENS Labs, the organization behind the open-source blockchain naming protocol, officially proposed ENSv2 on May 28. The update aims to introduce new features and improve the core functionality of ENS by transitioning to a layer-2 network. In addition, Johnson said that name holders will be able to customize their name’s governance. This includes choosing the terms for expiration and transfer rules.

“The release of EIP4844 has made layer-2 networks based on Ethereum vastly more affordable and scalable, which was a big driving factor for ENS’s proposal."

 

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