Ethereum Name Service Gears Up Layer 2 Expansion
Ethereum Name Service, the Ethereum blockchain’s distributed, open, and extendable naming system, has announced intentions for Layer 2 extension.
Because of Ethereum’s growing popularity, petrol prices have skyrocketed, pushing market participants to seek out more cost-effective alternatives.
On a recent community call, the ENS team emphasised the need of the update that would lead to Layer 2 expansion in order to improve scalability and minimise costs.
They said that making existing solutions interface with ENS domains will make domain name registrations and transactions more accessible to a broader user base.
The Ethereum-based naming system developers plan to use off-chain resolvers and service providers like cb.id, Lens Protocol, and Optimism. Despite market turmoil, ENS has clocked over 2.2 million domain names, with the figure increasing to 2.73 million across 700,000 unique addresses.
(With inputs from Shikha Singh)
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