ENS Labs Proposes ENSv2 Upgrade for Ethereum Name Service to Enhance Scalability and Reduce Gas Fees

May 28, 2024, 03:15 PM

Ethereum Name Service (ENS) has proposed an upgrade called ENSv2, which aims to migrate the protocol to a Layer 2 network. This upgrade is designed to enhance scalability, reduce gas fees, and provide users with more flexibility in managing naming structures. ENS Labs, the team behind the proposal, has not yet determined which specific Layer 2 stack will be used for the migration. The proposed upgrade includes a new hierarchical registry system, lower gas fees, a lower barrier to entry, easy subnames for everyone, and the ability to build custom subregistries. ENSv2 represents a significant re-envisioning of the ENS architecture from the ground up.