Ethereum Name Service provider ENS has canceled its layer-2 Namechain launch plans for the ENSv2 upgrade, opting instead to deploy the renewed protocol directly on Ethereum L1. ENS lead developer nick.eth, in a blog post published on Friday, cited the 99% drop in ENS registration gas costs over the past year and scaling developments on the Ethereum network. The Fusaka upgrade raised the gas limit to 60 million, doubling the level at the beginning of 2025, with a target of 200 million for 2026.
Blog post announcing changes to ENS’ upgrade plans. Source: ENS
Why Were ENS Namechain Plans Canceled?
Fusaka, which went live at the beginning of December, significantly reduced gas fees for both the L1 and L2 ecosystems. Namechain, announced in November 2024, aimed to make domain registrations cheaper for users via rollups, but Ethereum L1’s rapid scaling has made it unnecessary. This decision maintains the ENS protocol’s high compatibility with L2s while continuing to abstract cross-chain transactions.
ENSv2’s New Features and Innovations
- New registration architecture: More efficient domain management
- Improved ownership model: Security-focused enhancements
- Name expiration management: Flexible expiry options
- Per-name registration flexibility: User-friendly customizations
Critical Support and Resistance Levels for ETH
ETH price is currently at 2,075.95 USD, down -0.50% in 24 hours. RSI 31.09 (Oversold), downward trend. Click for detailed ETH analysis.
- Supports: S1: 2,063.74 USD (⭐ Strong, -0.60% distance)
- S2: 1,747.80 USD (⭐ Strong, -15.82% distance)
- Resistances: R1: 2,575.86 USD (⭐ Strong, +24.06% distance)
- R2: 2,258.21 USD (⭐ Strong, +8.76% distance)
The ETH futures market is also giving bearish signals.
Frequently Asked Questions About ENSv2 and Ethereum
When will ENSv2 be deployed on Ethereum L1?
According to nick.eth’s blog, the protocol will be active on L1 soon; the exact date will be announced shortly.
How did the Namechain cancellation affect ETH gas fees?
A 99% drop was achieved with Fusaka; L1 scaling made Namechain unnecessary.
Does ENSv2 maintain L2 compatibility?
Yes, high L2 compatibility and cross-chain support continue.
Check out ENS price analysis here.
Source: https://en.coinotag.com/ensv2-is-migrating-to-ethereum-l1-namechain-cancelled
