Labs Launches New Ethereum Layer 2 Solution, NameChain
Cointelegraph reported on the 11th (local time) that the stock price surged by more than 10% after the company announced details of its new blockchain-based blockchain platform, Namechain.
NameChain is a blockchain identity extension.
It is a customized Ethereum Layer 2 solution that features easy name registration at low cost through rollup technology.
On the same day, at the Friends Day (frENSday) conference held in Bangkok,
Labs executives revealed that NameChain will work alongside ENSv2, the protocol that enabled Ethereum’s Layer 2 extensions.
"ENSv2 and NameChain will enable name registration, record updates, and decentralized web services," said Greg Skril, developer relationships lead at ENS Labs.
"ENS provides a blockchain solution similar to the top domains of the internet, like .com and .org, and allows for the creation of numbers.
It provides a naming scheme that is much easier to read than IP addresses. The most notable ENS user is Ethereum co-founder Vitalik Buterin.
Buterin and his Ethereum address can be found in the Ethereum block explorer by typing "Vitalik.eth".
The ENS token surged 10.8% in the first 30 minutes after the announcement, from $19.46 to $21.56, but is now trading at $19.37.
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2024/11/11 17:26 KST
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