TechFlow reported, according to The Block, that ENS Labs has proposed the ENSv2 upgrade to migrate its services to an L2 network.
According to ENS Labs, ENSv2 aims to enhance scalability and reduce gas fees by moving core functionalities from the Ethereum mainnet to an L2 chain. If adopted, users would benefit from lower transaction costs.
ENS Labs has not yet selected a specific stack or Layer 2 network for the migration. However, once the migration is complete, the chosen network will become the new platform for user interactions with ENS. The upgrade also proposes a new "hierarchical registration system" to manage .eth domains more efficiently, including features for managing subdomains and configuring resolvers.
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