Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Ethereum Name Service (ENS) Partners to Develop Its Own Layer 2 Network! Here Are the Details

Ethereum Name Service (ENS) Partners to Develop Its Own Layer 2 Network! Here Are the Details

BitcoinsistemiBitcoinsistemi2024/12/19 06:11
By:Utku Yanık

Ethereum Name Service plans to develop its own Layer 2 network called Namechain using Linea's advanced technology stack.

Ethereum Name Service (ENS), the blockchain-based service that simplifies address resolution, has announced plans to develop its own Layer 2 network, dubbed Namechain, using Linea’s advanced technology stack.

Ethereum Name Service Partners with Linea to Build 'Namechain' Layer 2 Network

ENS selected Linea, a Layer 2 solution based on zkEVM, for its ability to maintain full compatibility with Ethereum's existing smart contracts and tools.

As ENS shared in a recent blog post, zkEVM technology enables reliable and seamless interactions between Ethereum’s Layer 1 and the new Namechain Layer 2.

Linea is also recognized as the first Layer 2 team to implement a trust-minimized version of ERC-3668 and provide decentralized cross-chain name resolution for ENS altcoins.

The Linea platform is powered by Consensys, a leading Ethereum-focused research and development firm.

The Namechain initiative is at the core of ENSv2, an upgrade introduced earlier this year that aims to increase the scalability and affordability of the Ethereum Name Service. This upgrade includes:

Tier 2 Adoption: Domain name registrations and renewals will move to Tier 2 Name Chaining, reducing transaction costs and increasing efficiency.

Layer 1 Integration: Name resolution services will remain on Ethereum Layer 1 to maintain ENS's decentralized infrastructure and compatibility.

The move to Tier 2 is expected to increase ENS's capacity to process larger volumes of domain name registrations and renewals, improving overall user experience and cost efficiency.

With Namechain, ENS aims to further expand its use in decentralized finance (DeFi), non-fungible tokens (NFTs), and other blockchain-based ecosystems.

This development underscores ENS's commitment to remain at the forefront of blockchain innovation while maintaining compatibility with Ethereum's core network.

*This is not investment advice.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!