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Liam

@daddysether.eth

56 Following
1047 Followers
Liam pfp
Liam
@daddysether.eth
In 2025, we will see many new traditional financial institutions follow BlackRock's lead, and migrate to Ethereum. Ethereum is the most secure blockchain globally, and is home to the hardest, most decentralized and productive "money" in all of crypto. The ticker is ETH.
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Liam
@daddysether.eth
My Ethereum wish for EOY 2025: To see the top 5 L2s by TVL safely achieve Stage 2 levels of decentralization. Both Arbitrum and Optimism have already achieved Stage 1, so we should expect them to achieve Stage 2 even sooner.
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Liam
@daddysether.eth
Both Base and Arbitrum are tremendous examples of the L2 bull thesis. Instead of spinning up a new L1, and trying to bootstrap a whole new ecosystem, they simply tapped into Ethereum's existing onchain economy. New L2s are 100x more efficient than new L1s.
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Liam
@daddysether.eth
The entire ETH Interop Forum is being livestreamed for those who weren't able to make the in-person event. Watch here 👇 https://x.com/EthInteropForum/status/1857668068178276849?t=76daTQD8GVnTelSnd4s16g&s=19
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Liam
@daddysether.eth
I'm looking forward to the upcoming developments of namechain as it progresses towards mainnet deployment. Kudos to the @ensdomains team for taking on the challenge.
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Liam
@daddysether.eth
To conclude, I would like to say that I am extremely impressed by namechain's ambitious roadmap, to scale ENS while preserving L2 composability. Ethereum is moving towards an interoperable future, fuelled by collaboration, and a shared desire to bring the world onchain.
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Liam
@daddysether.eth
To ensure that ENS is not adding to the fractionalisation of Ethereum's Layer 2 ecosystem, namechain will host inbuilt, L2->L2 bridging. This means that anyone from anywhere, can begin their ENS journey, and pay for their first ENS name from any existing L2.
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Liam
@daddysether.eth
Although this roadmap contains most of the important technical details, there is one more feature that sets namechain apart. Ethereum's core values are at the heart of the ENS protocol, and that means those values MUST extend to namechain - enter, native interoperability!
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Liam
@daddysether.eth
Phase 5) - Resolver switches to new registries and begins using the new namechain infrastructure. - Once all data has been synced, the process of new registrations and renewals will commence on namechain.
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Liam
@daddysether.eth
Phase 4) - Registries, resolvers, registrars, and migration contracts will be deployed on namechain. - Sync data with L1 legacy contracts.
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Liam
@daddysether.eth
Phase 3) - After the completion of phases 1 and 2, namechain will launch with an established sequencer and prover network.
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Liam
@daddysether.eth
Phase 2) Whilst it may seem smaller, this is a more complex scope: - Write a new slate of ENS smart contracts to build upon 7 years worth of learnings and innovation, with a heavy focus on improved user-experience.
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Liam
@daddysether.eth
Phase 1) - Facilitate a seamless transition of the ENSv1 interface to ENSv2. - Connect L2 reverse registrars to L1 using a new CCIP gateway. - L2 infrastructure selection: This has already been decided on, but we will need to wait for the official reveal.
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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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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
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
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
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
If you are interested in attending, the event will take place on Saturday, November 16th, at the GlowFish, Siam Paragon House
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Liam
@daddysether.eth
L2 interoperability will soon become a reality. The @EthInteropForum is a brand new initiative designed to assist in the coordination and alignment of cross-L2 interoperability standards. If you are heading to Bangkok for EFDevcon, apply to attend 👇 https://www.ethinteropforum.com/
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