ENS Labs proposed the ENSv2 upgrade, intending to migrate the Ethereum Name Service to the L2 network

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

According to ENS Labs, ENSv2 aims to enhance scalability and reduce gas fees by transferring core functionalities from the Ethereum mainnet to L2 chains. If the proposal is accepted, users will benefit from lower transaction costs.

ENS Labs has not yet selected a specific stack or second-layer network for the migration. However, once the migration is complete, the network will serve as a new platform for users to interact with ENS. The upgrade also introduces a new "layered registration system" to manage .eth domain names more efficiently, including features for managing subdomains and configuring resolvers.