Ethereum Name Service plans layer-2 migration to reduce gas fees, boost speed

The proposed ENSv2 aims to lower gas fees and improve transaction speed by moving out of Ethereum and transferring to a layer-2 network.

The Ethereum Name Service (ENS) is planning a significant update, migrating to a layer-2 network to lower gas fees and enhance transaction speeds.

This proposed version, ENSv2, seeks to move away from the Ethereum mainnet to improve scalability and functionality.

ENS Labs, the organization behind the open-source blockchain naming protocol, officially proposed ENSv2 on May 28. The update aims to introduce new features and improve the core functionality of ENS by transitioning to a layer-2 network.

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