The Ethereum Name Service (ENS) plans to transition to Layer 2 through its upcoming V2 upgrade, which aims to reduce operating costs, improve scalability, and support a wider range of use cases.
ENS provides user-friendly blockchain addresses through its .eth domain name service. The platform has seen widespread adoption, securing millions of domain name registrations and establishing partnerships with key players such as Coinbase, GoDaddy, and Uniswap.
The move to Layer 2 is a response to the challenges posed by high transaction fees and limited scalability on the Ethereum mainnet. By leveraging a Layer 2 solution, ENSv2 will reduce domain registration and renewal fees, making them more cost-effective
