ENS Labs has announced ENSv2, a major upgrade to the Ethereum Name Service, involving a move to a Layer 2 network. This shift aims to improve scalability and cut gas fees by relocating core features from the Ethereum mainnet to a Layer 2 chain.
ENSv2 will introduce a hierarchical registry system for .eth name management, enhancing subdomain management and resolver configuration. Over two million .eth names have been registered so far, simplifying Ethereum addresses.
The upgrade is motivated by Ethereum Improvement Proposal (EIP) 4844, which made Layer 2 networks cheaper. ENS Labs seeks additional funding from the ENS DAO to support this development. The phased migration ensures minimal disruption and offers users flexibility in name management.
ENSv2 could enhance multi-chain interoperability, broadening ENS’s utility across blockchain ecosystems.
