Sunday, June 23, 2024

The first steps toward Ethereum Layer-2 support are being taken by ENS.

Ethereum is one of those blockchains that is being updated regularly and has been optimized to be better than ever at every step. These days they have been working on adopting the Ethereum Layer 2 support with Ethereum Name Service. The new layer 2 will support users with .eth domain name and also onboard new users.

It will also have a lowered gas fee combined with shorter settlement times. This makes it a great update that will get more users to the blockchain. The new update is already being rolled out and tested by developers as we are typing this article.

The major added functionality with the update is that wallet providers now can create, issue or just update an ENS subdomain for specifically their users without any transaction fees.

This will add more variety to the chain and make developers literally the masters of their domain. As a very welcome step by the community, this makes the developers on the blockchain semi-autonomous without any intervention by the company people. The records will be stored off the chain and they will be accessed by a trusted key that will be used for verification.

A new toolkit also has been given to the developers in hopes of building the infrastructure that will allow off-chain domain hosting. This will also be applicable for subdomains. The gas fees for subdomain creation and record updates will also be eliminated altogether, all thanks to the Layer 2 update.

If you have been planning to get in on the ETH blockchain, right now is the best time to do so.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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