The company behind the ENS blockchain domain service, ENS Labs, is advancing its plans to launch a Layer 2 network. ENS Labs Chief Operating Officer Katherine Wu stated that the new network, named Namechain, will be launched by the end of next year. It will utilize zero-knowledge rollups, a scaling technology that accelerates blockchain transaction speeds and reduces execution costs by compressing the amount of data published on-chain. This technology allows Namechain to handle and execute transactions outside of the main Ethereum network while still inheriting Ethereum's full security. Additionally, the new network will leverage the infrastructure of existing zero-knowledge chains that are compatible with the Ethereum Virtual Machine. (CoinDesk)