Liam
@daddysether.eth
Today, @ensdomains is arguably the most successful non-financial application that exists on Ethereum. And now, with their very own L2, ENS will soon scale the most popular decentralized name service to billions of people around the world. Here's everything we know so far 🧵
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Liam
@daddysether.eth
Namechain is going all in on ZK. Although we don't yet know which tech stack, the ENS team have chosen to build on existing zkEVM infrastructure that closely embodies the values of Ethereum. This means open-source, maximal security, and a credible decentralization roadmap.
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Liam
@daddysether.eth
Why namechain? As it stands, ENS is home to the most widely-adopted, non-financial use case on Ethereum. However, due to the success of the protocol, demand from real-world people has begun to outweigh the supply of blockspace that Ethereum L1 can provide at an affordable rate.
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Liam
@daddysether.eth
In order to extend decentralized, human-readable, Web3 usernames to billions of people around the globe, ENS must evolve beyond the constraints of Ethereum L1. Hence, the need for namechain, a highly scalable zkEVM that will reduce the cost of maintaining an ENS name by 100x.
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Liam
@daddysether.eth
Now, let's unpack the roadmap. The rollout of namechain has been split across five phases. Phases 1 and 2 prepares the ground for namechain's deployment, whilst phases 3, 4, and 5 focus on post-launch optimizations, and the migration of contracts from L1->L2.
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