Speedy

Ethereum

Evolution

<ul class="wp-block-list">
 <li>Justin Ðrake’s Ethereum redesign aims to boost scalability while keeping security at the forefront, with community input shaping its future.</li>  
 <li>ENS Labs’ Namechain will use ZK rollups for faster, cost-effective Ethereum transactions while maintaining top-tier security standards.</li>  
 <li>ENSv2 will streamline Ethereum address management, with improved backend efficiency and minimal disruption for users transitioning to Namechain.</li> 
</ul>  
<p>Ethereum core researcher Justin Ðrake has revealed an announcement to reshape <a href="https://ethereum.org/en/developers/docs/consensus-mechanisms/" target="_blank" rel="noopener noreferrer nofollow">Ethereum’s consensus layer</a>. Speaking ahead of Devcon, Ðrake teased a plan to enhance the Ethereum beacon chain roadmap. For the past year, Ðrake has worked on an ambitious vision to tackle Ethereum’s consensus, collaborating with researchers and consensus developers.&nbsp;</p>  
<p>His goal, develop a credible and efficient roadmap for Ethereum’s core structure. Besides aiming for high scalability, Ðrake envisions an improved network that <a href="https://cryptonewsland.com/ubs-leads-tokenization-efforts-with-new/" target="_blank" rel="noopener noreferrer nofollow">maintains Ethereum’s security</a>. However, it’s still early, and community input will be critical.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/drakefjustin/status/1855870222361891010
 </div>
</figure>  
<p>Meanwhile, ENS Labs, creators of the Ethereum Name Service, <a href="https://blog.ens.domains/post/ensv2" target="_blank" rel="noopener noreferrer nofollow">announced</a> their own layer-2 network, Namechain, set for late next year. This new layer-2 network will use zero-knowledge (ZK) rollups to enhance transaction speed and cost-efficiency while retaining Ethereum’s security benefits.&nbsp;</p>  
<p>ENS Labs’ COO Katherine Wu noted that zero-knowledge technology compresses data on-chain, optimizing costs and resources. Consequently, Namechain aims to support faster, affordable transactions without compromising security standards. Additionally, ENS Labs is finalizing its choice for the zkEVM infrastructure, which will provide Ethereum Virtual Machine compatibility.</p>  
<h2 class="wp-block-heading" id="h-zero-knowledge-rollups-and-ens-evolution">Zero-Knowledge Rollups and ENS Evolution</h2>  
<p>Significantly, Namechain's <a href="https://www.chainalysis.com/blog/zero-knowledge-rollups-optimistic-rollups-overview/" target="_blank" rel="noopener noreferrer nofollow">ZK rollup-based design</a> enables it to process transactions off Ethereum’s mainnet while maintaining compatibility. According to ENS Labs, this strategy enhances Namechain’s ability to handle heavy traffic efficiently. Besides, it preserves full security properties by syncing with Ethereum’s main blockchain.</p>  
<p>Moreover, Namechain’s backend will ensure seamless use with existing ENS addresses, like Ethereum creator Vitalik Buterin’s popular Vitalik.eth. For users, Namechain promises lower gas fees and a smoother user experience, simplifying complex Ethereum addresses to readable, user-friendly names.</p>  
<h2 class="wp-block-heading" id="h-a-future-ready-ens-system-with-ensv2">A Future-Ready ENS System with ENSv2</h2>  
<p>ENS Labs has even bigger plans with ENSv2, an updated protocol framework that will also launch on layer 2. This new version will overhaul ENS’s registry system, creating more versatile interactions. The technical shift includes ensuring backward compatibility, allowing users to transition to Namechain with minimal changes. Importantly, ENSv2 users will see no interface or usability disruptions, with benefits mainly focused on back-end efficiency and cost reduction.</p>  
<p>Besides Ethereum, ENS has been <a href="https://cryptonewsland.com/why-crypto-domain-name-providers-are-key-to-blockchains-future-security-accessibility-and-censorship-resistance/" target="_blank" rel="noopener noreferrer nofollow">blockchain’s response to domain services</a>, akin to web names for easier identity access. With ENSv2 and Namechain, ENS Labs aims to enhance accessibility and functionality within the Ethereum ecosystem. In conclusion, Ðrake and ENS Labs’ innovations mark a pivotal phase, as Ethereum pioneers modernize blockchain’s backbone.</p>   
<p>The post <a href="https://cryptonewsland.com/revolutionizing-ethereum-new-consensus-plans-and/" rel="noopener noreferrer nofollow">Revolutionizing Ethereum, New Consensus Plans and ENS Labs’ Speedy Layer-2 Network</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Revolutionizing Ethereum, New Consensus Plans and ENS Labs’ Speedy Layer-2 Network

Table of Contents

Crypto News Land

Other articles published on Nov 11, 2024

Signs of Recovery: Kaspa and Uniswap Poised for Comeback Alongside Emerging AI Crypto with 470% G...

Weekly Article Recap: 10/28-11/01

IRS Coin (Income Robbing Snakes)

MicroStrategy Aims for Major Growth in Bitcoin

Jupiter (JUP) Price Makes Bullish Close Above Key Level, but One More Resistance Could Disrupt Rally

Bitcoin’s Soaring Price, Pro-Crypto Election Wins, and a Promising Future: Key Highlights from To...

Join our free newsletter for daily crypto updates!