Ethereum Name Service (ENS) to Introduce Layer 2 Interoperability for ENS Domains
ENS Labs plans to implement Layer 2 (L2) interoperability for ENS domains, aiming to improve performance, scalability, and cost efficiency for users. The implementation will leverage off-chain resolvers and the services of Coinbase’ cb.id, Lens Protocol, and OptiNames on the Optimism network. The L2 ecosystem has seen a surge in projects and protocols, with a total value of assets locked on L2 service providers reaching $9.78 billion. ENS domain name registrations experienced significant growth in Q2 2021, with June recording the highest number of registrations. While .eth name registrations surged, primary ENS name registrations declined. ENS’ annualized revenue also fell, but ENS token accumulation and value growth have been positive.
Key Points:
– ENS Labs plans to introduce L2 interoperability for ENS domains to improve performance, scalability, and cost efficiency.
– Off-chain resolvers and services from Coinbase’ cb.id, Lens Protocol, and OptiNames on the Optimism network will be leveraged.
– The L2 ecosystem has seen a surge in projects and protocols, with $9.78 billion locked on L2 service providers.
– ENS domain name registrations experienced robust growth in Q2 2021, with June recording the highest number of registrations.
– While .eth name registrations surged, primary ENS name registrations saw a notable decline, and ENS’ annualized revenue fell.
Hot Take:
The introduction of Layer 2 interoperability for ENS domains is a significant step towards improving operational efficiency and cost-effectiveness. It aligns with the growing trend of Layer 2 adoption and showcases ENS’ commitment to user experience and network efficiency. The positive price performance of ENS tokens indicates a bullish run and reflects the potential value of this development.
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