The Ethereum Name Service (ENS) announced yesterday that it plans to migrate its core functionality to Layer2 network, aiming to enhance scalability and reduce transaction fees. Encouraged by this news, ENS briefly surged past $28.
(User Benefits from Low Fees on Layer2
ENS collaborates with Intercap to integrate .box domain
ENS briefly surpasses $28)
Ethereum Name Service (ENS) announced on the social platform X yesterday that it plans to upgrade ENS comprehensively by migrating the ENS protocol from the Ethereum mainnet to the Layer2 network.
Users will benefit from low fees on Layer2
ENS officials stated that this upgrade aims to migrate its core functionality from the Ethereum mainnet to the Layer2 network in order to enhance scalability and reduce transaction fees. However, ENS has not yet decided which Layer2 network it will ultimately migrate to.
In addition, ENS has proposed a new “layered registration system” to more effectively manage .eth domains, including managing subdomains and configuring resolvers. Regarding this, Nick Johnson, the founder of ENS, stated:
ENS collaborates with Intercap to integrate .box domain
It is worth mentioning that last month on the 23rd, ENS announced its collaboration with Intercap to introduce .box domains into the ENS management application. The officials stated:
ENS officials pointed out that the uniqueness of .box domains lies in their operation on the chain. This means that .box domains can be used not only for URLs and emails in the traditional internet but also as a cross-platform personal Web3 identity, with the following significant implications:
Facilitating adoption:
Users accustomed to the traditional internet will find it easier to transition from familiar traditional DNS TLDs to Web3, thereby accelerating the adoption of ENS.
Expanding functionality:
Integrating DNS TLDs enhances the functionality of ENS, allowing users to enjoy the advantages of decentralized services while still using traditional domains.
Enhancing network effects:
The integration of Web2 and Web3 technologies will drive active participation from developers.
Catalyzing technological integration:
This integration marks an important step in the fusion of centralized and decentralized network services, demonstrating the shift towards user-centric network models.
Note from the dynamic zone: In the future, ENS may integrate .com or more commonly seen traditional internet domains.
ENS briefly surpasses $28
Encouraged by this news, ENS briefly surged past $28 last night, reaching a high of $28.5. At the time of writing, it has slightly retraced to $25.94, with a narrow 24-hour gain of 4.07%.
ENS trend. Image source: OKX Market
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