ENS Labs, the development company behind Ethereum Name Service (ENS), announced today that it will be launching a dedicated Layer 2 network called Namechain. The purpose of Namechain is to expand blockchain identity while maintaining the decentralization and security that users expect from ENS. Katherine Wu, the Chief Operating Officer of ENS Labs, stated in an interview with CoinDesk that Namechain is expected to go live around the end of next year.
According to a press release issued by ENS Labs on Monday, Namechain will utilize ZK Rollup technology. This technology allows the Layer 2 network to process and execute transactions outside of the Ethereum mainnet while still inheriting the full security of Ethereum, but at a fraction of the cost.
Wu explained that the new network will leverage the existing zero-knowledge (ZK) chain infrastructure that is compatible with the Ethereum Virtual Machine (EVM). She informed CoinDesk through Telegram that the team is in the final stages of choosing which zkEVM to use.
Wu also mentioned that this improvement, called ENSv2, will completely reconstruct the ENS protocol and extend it to Layer 2.
