Catenaa, Saturday, November 16, 2024-ENS Labs, the developer behind Ethereum Name Service (ENS), announced plans for a new Layer 2 rollup called Namechain, expected to launch by late 2025.
Namechain will allow users to register and manage ENS names with significantly reduced fees and enhanced flexibility across multiple Layer 2 (L2) networks, without being restricted to one specific chain.
The Namechain rollup, based on zero-knowledge proof technology, aims to facilitate off-chain transactions while maintaining Ethereum-level security.
ENS co-founder Jeff Lau emphasized Namechain’s unique focus on interoperability and user experience over traditional metrics like total value locked (TVL). Designed as “L2-agnostic,” Namechain enables ENS operations across any L2 network, making it easier for users to engage with ENS on their preferred chains.
Namechain is part of the broader ENSv2 initiative, introduced earlier this year, which focuses on decentralizing naming services on L2 networks for cost-effectiveness and scalability. Namechain’s priorities include rapid transaction finality, an open-source framework, and a fully decentralized ENS ecosystem. ENS Labs has reportedly selected L2 partners for the project, though they remain undisclosed.
In addition to Namechain, ENS Labs announced recent integrations with Paypal and Venmo, expanding ENS’s reach and marking a milestone with over 2 million on-chain names and more than 4 million off-chain.
