ENS Labs, the Singapore-based non-profit organization overseeing the Ethereum Name Service (ENS), has recently announced a proposal to expand its services to Layer 2 networks with the introduction of ENSv2.The proposal includes a migration plan developed in collaboration with the ENS community and will detail technical specifications, timelines, and provide opportunities for community feedback and participation in the transition process.This initiative aims to improve the efficiency and accessibility of the decentralized naming protocol. Source: Ethereum Name ServiceMore Affordable and Efficient ENSv2ENS has become a fundamental component of the internet’s infrastructure since launching in 2017, with millions of .eth names registered and integrated into numerous dApps, wallets, and browsers. The service facilitates interaction between traditional internet naming and Ethereum’s blockchain applications.The recent proposal and introduction of ENSv2 represents a redesign of the protocol’s architecture to enhance decentralization and support new use cases and integrations previously limited by Ethereum’s mainnet constraints.Key features include the adoption of a hierarchical registry system, which will provide users with greater control over their .eth names to enable seamless integration across various blockchains, enhancing usability and trustlessness across different decentralized ecosystems.The move comes as Ethereum’s ecosystem experiences rapid growth, with Layer 2 solutions gaining popularity due to their ability to offer faster transaction times and reduced gas costs compared to the Ethereum mainnet.For further updates, visit the official website or follow ENS on X/Twitter.Want more? Connect with NFT PlazasJoin the Weekly NewsletterJoin our TelegramFollow us on TwitterLike us on FacebookFollow us on Instagram*All investment/financial opinions expressed by NFT Plazas are from the personal research and experience of our site moderators and are intended as educational material only. Individuals are required to fully research any product prior to making any kind of investment.Blockchain enthusiast and lifelong gamer.
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