Ethereum Name Service (ENS) propone di espandersi e di lanciare il proprio layer-2

Yesterday, ENS Labs, the company responsible for managing the decentralized service Ethereum Name Service, presented a governance proposal where it invites the community to expand its dapp into a layer-2 network.

We still don’t know anything about the prototype of the network that ENS aspires to migrate to: all we know is that as a fundamental criterion the new chain must be EVM compatible, censorship-resistant, decentralized, and open source.

Anche  il money market Aave e la piattaforma di restaking Etherfi stanno pensando di tuffarsi nel panorama dei layer-2 lanciando una rete proprietaria.

Let’s see all the details below.

ENS wants to launch its own layer-2 blockchain

Ethereum Name Service (ENS), protocol for the creation of domini on the Ethereum blockchain, is considering migrating to a layer-2 to address some technical limitations and improve the end-user experience.

Questo è quanto riportato da ENS Labs, organizzazione non-profit situata a Singapore che si occupa dello sviluppo della piattaforma ENS, che con una proposal di governance ha condiviso ieri l’idea con la community del progetto.

Without revealing too many details, the company emphasized the potential benefits that would be brought to the protocol, such as improved scalability with reduced gas fees and the introduction of new advanced features.

Il nuovo layer-2 dovrà essere necessariamente compatibile con lo standard EVM, oltre che resistente alla censura, decentralizzato e open source.

Since 2017 ENS has established itself as the leading platform for on-chain domain registration, effectively becoming the bridge between traditional internet and the decentralized web.

With the passage of time, however, the ambitions of this protocol have also changed, which now in order to truly become mainstream aims to offer lower gas costs than Ethereum fees and faster transactions.

The Ethereum blockchain is indeed excessively expensive to use when there is too much congestion, skyrocketing the commission costs to execute a simple transaction or approve a smart contract.

If the proposal is accepted by the community, the domain registration phase will move to layer-2, which will become the new platform for user interactions in all respects.

With the update, a new hierarchical system is also proposed for more effective management of domini, where the holders of these resources will have access to a unique register, where they can check the subdomains and configure the resolvers.

Furthermore, the transition to ENSv2 implies the improvement of l’interoperabilità multi-chain, with the functions of ENS that will also be brought within other cryptographic ecosystems.

We still do not know the timing of this fundamental transition in the history of Ethereum Name Service, but it is likely that the migration could take place in 2025, provided the proposal passes.

Regarding the news Eskender Abebe, Product and Strategy Manager at ENS Labs, reiterated how the release of Ethereum Improvement Proposal (EIP) 4844 which introduced the function of BLOB in Ethereum rollups with Dencun, was a factor of enormous importance that motivated the team to evaluate the transition to layer-2, effectively making transactions on these second-level networks cheaper. These are his words:

“The release of EIP4844 has made Ethereum-based layer 2 networks much more convenient and scalable, which has been a major driving factor for the ENS proposal.”

Aave and Etherfi also consider a proprietary layer2 network

ENS non sarebbe l’unico top protocollo della blockchain di Ethereum a pensare ad una migrazione presso un layer-2 più scalabile: dopo il recente successo del trend delle soluzioni di ridimensionamento zk-rollup e degli optimistic rollup, con il TVL di questa nicchia che ha superato i 47 miliardi di dollari, sempre più entità puntano a lanciare la propria chain con appoggio su Ethereum.

One of these is Aave, a very famous lending protocol that should soon complete the upgrade to Aave V4 with the platform aiming to introduce a unified multi-chain liquidity layer, becoming much more efficient in all respects.

The founder of the project, Stani Kulechov, in a recent post on X informed his community that after the V4 Aave could launch its own layer-2 network expanding its DeFi ecosystem towards new horizons.

We remind you that Aave represents the third largest dapp on Ethereum after EigenLayer and Lido, with a TVL of 13 billion dollars: if it landed on an L2, it would effectively become the largest secondary network on Ethereum, even beating the industry leader Arbitrum.

It would simultaneously also be the third largest chain in the entire Defi sector, behind Tron and obviously the parent company Ethereum.

We do not know the technical details of the new product but we know that the official launch is scheduled for 2025.

Anche EtherFi, noto protocollo di restaking di ultima generazione con un TVL di 6 miliardi di dollari, ha in programma di costruire un layer-2 proprietario in futuro.

After achieving enormous results in the market, such as the introduction of native restaking on L2s, the launch of its own token as an airdrop, and the release of a debit card to collateralize the balance in the protocol by borrowing USDC, now EtherFi aims for the next step.

Even here, the details of this step are not known, except that it could likely happen in 2025, contributing to making user transactions much faster and cheaper.

The objective for the protocol is to improve the user experience and expand its connections with the DeFi landscape, aiming to attract as many resources and liquidity as possible.