- ENS Labs is launching "Namechain," a layer-2 network using zero-knowledge rollups, set to go live by the end of next year.
- Namechain aims to reduce transaction costs while maintaining Ethereum's security, offering backward compatibility with ENSv1.
ENS Labs, the developer behind Ethereum Name Service (ENS), is set to launch its own layer-2 network called "Namechain" by the end of next year.
According to Katherine Wu, Chief Operating Officer of ENS Labs, Namechain will utilize zero-knowledge (ZK) rollups, a blockchain scaling solution that enhances transaction speed and reduces costs by minimizing the amount of data processed on-chain.
Introducing Namechain, a purpose-built Ethereum Layer 2 solution designed to scale blockchain identity while maintaining the decentralization and security that users expect from ENS
— ens.eth (@ensdomains) November 11, 2024
To learn more about Namechain and why it matters, check out Coindesk's recent article!… pic.twitter.com/DmvJVcWQzX
"This technology allows Namechain to process and execute transactions off the main Ethereum network while still inheriting the full security of Ethereum, but at a fraction of the cost," ENS Labs stated in a recent press release.
The decision to implement ZK rollups reflects ENS Labs' commitment to improving the scalability of its service. ENS functions similarly to the internet’s Domain Name Service (DNS), converting complicated wallet addresses into easy-to-remember names. For instance, Ethereum’s creator, Vitalik Buterin, uses the ENS handle "Vitalik.eth" instead of his lengthy wallet address, making interactions in the crypto ecosystem more user-friendly.
In May, ENS Labs first proposed the idea of transforming its current registry system into a layer-2 solution. Known as ENSv2, the overhaul will involve a complete redesign of the ENS protocol, transitioning it to the new Namechain.
Wu explained that a significant challenge would be ensuring backward compatibility with ENSv1, which currently operates on Ethereum's mainnet. She emphasized that from a user’s perspective, there should be no noticeable changes in the user experience, aside from lower transaction fees.
ENS’ move to launch Namechain follows a broader trend of major crypto projects developing their own layer-2 solutions. Recently, Uniswap, Kraken, and Sony’s Blockchain Labs announced plans to launch rollup networks, though they opted to use Optimism’s OP Stack technology rather than ZK rollups.
“Namechain represents ENS' next evolution, and I’m excited for the huge improvements it will bring in scalability and cost, and the new applications it will enable,” said ENS Labs' co-founder and lead developer, Nick Johnson.
Edited by Harshajit Sarmah
