ENS Could Migrate To A Layer 2
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ENS Labs has proposed to migrate some of the core functionality of ENS from Ethereum to a layer 2 network. The proposed upgrade is called ENSv2.
This is big because ENS is attempting to reimage its architecture "from the ground up" so that .eth domains and everything web3 that comes with ENS would be more accessible to more people.
The proposed layer 2 network would be either a carefully selected chain or ENS's own new layer 2.
Faster transaction times, much lower costs, and increased overall scalability are just some of the reasons ENS Labs is eyeing layer 2 solutions for ENS. Also, the growing demand for Ether blockspace is increasing the cost of .eth registrations and updates.
Aside from the given L2 benefits, ENSv2 would bring enhanced control and customization, where each .eth name has its personal registry (+ownership). In addition, multi-chain interoperability via a CCIP-Read Gateway and a compatible resolver.
ENS currently has around 2.14 million domain names and 800k owners.
The proposal is sitting in the ENS governance forum, and its creators are awaiting feedback from the community.
If you're interested in the criteria ENS Labs has for an L2 network, visit the official proposal on their governance forum.
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