TL;DR
- ENS Labs plans to launch its own Layer 2 network called Namechain by the end of 2025.
- Namechain will focus on interoperability and offering cheaper access to ENS.
- The project is part of the ENSv2 initiative to expand ENS on Ethereum Layer 2 networks.
ENS Labs, the organization behind Ethereum Name Service (ENS), has announced the creation of a new Layer 2 (L2) network called Namechain, designed to improve interoperability across the Ethereum ecosystem.
ENS, which facilitates the use of readable names instead of complex cryptocurrency addresses, plans to make its service accessible and affordable to users of multiple L2 networks.
According to the original report, ENS Labs expects Namechain to be ready for launch by the end of 2025.
Namechain, built on zero-knowledge proof (zk-proof) technology, will allow transactions to be executed off the Ethereum mainnet, significantly reducing costs while maintaining the security offered by the Ethereum blockchain.
ENS co-founder Jeff Lau stated during the “frENSday” event in Bangkok that Namechain will prioritize different features than other Layer 2 rollups, as ENS seeks to improve user experience rather than focusing on total value locked (TVL) metrics.
ENS Labs goal with Namechain is to offer a Layer 2 “agnostic” system, meaning it is not limited to a single network, but allows users to use ENS from any L2. With this architecture, Namechain will offer unprecedented interoperability, allowing users to perform name registrations and transactions at 99% lower costs than on Layer 1.
ENS Labs will also integrate a L2 bridging system within Namechain, allowing users to pay and transact from the Layer 2 network of their choice.
A step towards decentralization and efficiency of ENS
The creation of Namechain is part of the ENSv2 strategy, launched in May of this year, which seeks to expand and optimize ENS on Ethereum to make it more accessible and affordable.
The platform, which already has more than 6 million registered names, both on-chain and off, has made significant progress in its integration with other services, such as announcing its collaboration with PayPal and Venmo in September.
ENS Labs stressed that the Namechain network will be developed with three priorities: offering fast transaction completion using zkEVM, maintaining its open-source software, and ensuring decentralization.
Lau also highlighted the importance of ENS controlling the entire Namechain infrastructure, from protocol to governance, to ensure the system is fully aligned with the needs of ENS users.
ENS Labs has already selected the L2 partners that will collaborate on Namechain, although it has not yet revealed the names of these allies. This step reinforces ENS ambition to establish itself as the main option for resolving cryptocurrency addresses on the Ethereum blockchain, making it easier for more users to access the Web3 ecosystem without facing the high costs of Layer 1.
