All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- ENS introduces Namechain using Linea’s zkEVM for faster, cost-efficient .eth domain actions, retaining Ethereum compatibility.
- Namechain leverages zkEVM for reduced gas fees and scalability, enhancing user experience for ENS’s decentralized domain services.
ENS (Ethereum Name Service) has made a significant step ahead by using Linea’s zkEVM technology to develop Namechain, a ground-breaking Layer 2 network.
Designed to solve some of the most urgent problems in the Ethereum ecosystem, namely the demand for faster and more affordable transactions, this creative endeavor, Namechain, seeks to keep complete compatibility with the Ethereum blockchain while making processes linked to .eth domains, such as registration and renewal, much cheaper and faster.
This advancement should improve the user experience and increase the availability of ENS services for both people and companies equally.
ENS TO BUILD NAMECHAIN WITH LINEA
ENS is going big with Linea’s zkEVM tech to build Namechain, a Layer 2 network.
The goal is faster, cheaper .eth domain actions without ditching Ethereum compatibility.
Namechain will make domain reg and renewals smoother and cheaper—all while… pic.twitter.com/piuSR77cWm
— Mario Nawfal’s Roundtable (@RoundtableSpace) December 18, 2024
ENS: Strategic Move Towards Enhanced Scalability
Adoption of Linea’s zkEVM technology is a calculated action by ENS to take advantage of innovative cryptographic proofs. By off-chain transaction processing, this zero-knowledge system enables lower gas fees and higher scalability.
Users can thus make large-volume transactions free from the congestion and higher expenses sometimes connected with the Ethereum mainnet.
The Ethereum community’s larger trend to use Layer 2 solutions for scalability and performance improvement is reflected in ENS’s choice to construct a Layer 2 network akin to Namechain. Integrating zkEVM will help Namechain to become a pillar for blockchain-based domain management going forward.
On the other hand, CNF previously reported Venmo and PayPal had included Ethereum Name Service (ENS) into their systems. This operation enables flawless interactions with ENS domains by simplifying the crypto management procedures for consumers.
This function, which reflects a slow but consistent drive for general adoption of blockchain technology in financial services, is currently restricted to users in the United States, though.
Meanwhile, as of writing, ENS is trading at about $40.07, having surged 119.95% over the last 30 days. Its market cap has been driven above the $1.4 billion mark by this price movement.
