ENS Labs proposes the ENSv2 upgrade to migrate Ethereum name services to the L2 network

ChainCatcher news, ENS Labs has proposed an ENSv2 upgrade to migrate services to the L2 network.

According to ENS Labs, ENSv2 is designed to enhance scalability and reduce gas fees by moving core functionality from the Ethereum mainnet to the L2 chain. If the proposal is accepted, users will benefit from reduced transaction fees.

ENS Labs has not selected a specific stack or layer 2 network for migration. However, once the migration is complete, the network will become the new platform for users to interact with ENS. The upgrade also proposes a new "tiered registration system" for more efficient management of .eth domain names, which includes the ability to manage subdomains and configure resolvers.