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Ethereum Name Service proposes ENSv2 upgrade to tap into booming layer 2 networks

admin — Tue, 28 May 2024 19:48:43 +0000

ENS Labs, a non-profit organization responsible for the Ethereum Name Service (ENS), has proposed an ENSv2 upgrade that would facilitate the protocol’s migration into a layer 2 network, according to a May 28 statement shared with CryptoSlate.

ENS’s move is exciting for Ethereum layer-2 networks, which have recently seen increased adoption, and the total value of assets locked on them reach a new all-time high.

ENSv2

According to ENS, the ENSv2 proposal aims to overhaul the protocol with a hierarchical registry to enhance the management and customization of .eth domain names.

This upgrade includes migrating ENS’ core functions from Ethereum Layer 1 to a Layer 2 network. This change will benefit both users and developers by improving functionality and usability.

Consequently, ENS users will enjoy increased scalability, lower gas fees, and faster transaction speeds. Developers will also gain more flexibility with the new registry design and other infrastructural enhancements. The upgrade is also set to enable multi-chain interoperability.

However, the protocol failed to name the Layer 2 network to which it would migrate. Nonetheless, ENS elaborated on social media:

“We’ve long been monitoring the state of the L2 ecosystem while also contributing with internal innovations such as CCIP-Read and the EVM Gateway. We believe that now is the right time for us to begin moving parts of ENS, such as .eth name registration, to L2.”

Layer2 networks grow

According to L2Beat data, the total value of assets locked on Ethereum layer 2 networks has surged to a record $47.26 billion, marking a 15% increase in the past week.

Arbitrum leads the pack with a total value locked (TVL) of $19.3 billion. Following closely is OP Mainnet with $7.88 billion in TVL, while Coinbase-backed Base ranks third with $6.94 billion. Other blockchains with TVLs exceeding $1 billion include Blast, Mantle, Linea, and Starknet.

Experts attribute this milestone to renewed investor confidence in Ethereum’s ecosystem and the high adoption rates of these networks. Additionally, the recent ETH price increases, fueled by the approval of the ETH ETF, have also contributed to the rise in TVL.

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WOW! UNBELIEVABLE CTSI Cartesi & ETH Moves | Massive AXS UNLOCK

Altcoin Buzz — Fri, 29 Sep 2023 22:38:56 +0000

Bitcoin may be getting ready to head to $25k, Cartesi sees a massive 95% rally in 7 days, Rocket Pool launches new Atlas update, and Axie Inifinity has a $155 Million dollar unlock this weekend.

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TIMESTAMPS
00:00 INTRO
0:24 BTC to $25k?
1:24 Rocket Pool Atlas upgrade after Eth Shapella
2:37 ENS now allows Moonpay for .ETH domains
3:52 ETH whales moving Millions!
4:53 Cartesi Rallies 95% in 7 Days!
6:04 Axie Infinity $155mn Token Unlock
6:55 Gemini moving abroad to India

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The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.

Please do your own due diligence and rating before making any investments and consult your financial advisor. We believe that the information presented is correct and accurate, however, there is no guarantee or warranty as to the accuracy, timeliness, or completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

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MASSIVE CRYPTO FUD! Major Ethereum, Binance, Shiba Inu, ENS News

Altcoin Buzz — Wed, 10 May 2023 09:19:37 +0000

Massive crypto FUD hits the market as the U.S DOJ takes down crypto exchange Bitzlato. Ethereum gas fees are up, and layer 2’s are on a tear. Shiba inu rallies ahead of Shibarium layer 2, and Binance gets license in Poland. ENS, and Maker Dao both set out proposals for the future of the DAO’s.

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TIMESTAMPS
00:00 INTRO
0:23 BTC can still go up 50% before crashing
1:31 Shiba Inu takes off ahead of layer 2
2:11 Ethereum Fees raise 50%
3:12 Trader Joe plans to make JOE token have more utility
4:07 ENS Votes to liquidate 10,000 ETH
4:45 U.S DOJ takes down crypto exchange Bitzlato
6:10 Binance speaks at World Economic Forum
7:10 MakerDao votes on future of GUSD

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INSANE POTENTIAL – Top 4 Crypto Coins Set to EXPLODE!!

Altcoin Buzz — Mon, 16 Jan 2023 16:29:41 +0000

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With the bitcoin and crypto bear market entering its 9th month, you’d think everything is a bargain now. But not so. Just because it’s cheap doesn’t mean it’s a good investment. But for our top coins for August, we have 4 whose only major negatives are its price in this market. Fundamentals and underlying growth in these projects are strong, making them worthy of a look right now.

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TIMESTAMPS
0:00 Bitcoin and Michael Saylor
2:11 Altcoin #1
5:21 Altcoin #2
7:23 Altcoin #3
10:43 Altcoin #4
13:22 Final Thoughts

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The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the content creators/reviewers and their risk tolerance may be different than yours. Altcoin Buzz is not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Please do your own due diligence and rating before making any investments and consult your financial advisor. The information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.

#efinity #tezos #binance

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