Ethereum Name Service (ENS) has achieved decentralized governance, according to a connection from the project’s creator connected Dec. 14.
ENS is simply a naming strategy for the Ethereum blockchain that adds human-readable names to assorted resources, including crypto wallets and websites. Until now, the project’s basal node was managed by members of the Ethereum community.
Nick Johnson, ENS founder, endorsed the alteration successful ownership. He wrote connected X:
“[This is] genuinely the extremity of an era. Here’s the connection I conscionable sent to the ENS basal keyholders, requesting the transportation of the past of their powers to the DAO.”
Johnson’s attached email stated that the Decentralized Autonomous Organization (DAO) of ENS, which is simply a governance radical formed and controlled by ENS token holders, voted unanimously to get power of the project’s basal node.
He said that, successful effect to those voting results, helium created a transaction to execute 2 actions that transportation basal power to the DAO code (wallet.ensdao.eth). He wrote that this transaction transfers each remaining multisig responsibilities to the DAO, thereby “retiring the multisig entirely.” It is unclear whether the different multisig owners person approved the transaction.
Individuals who antecedently managed ENS’ multisig see Chainlink’s Sergey Nazarov, Metamask’s Dan Finlay, MyCrypto’s Taylor Monahan, Colony’s Aron Fischer, the Ethereum Foundation’s Jason Carver and Martin Swende, and Johnson himself. Johnson addressed those individuals successful his message, writing: “Thank you truthful overmuch … for your work to ENS implicit the years.”
ENS governance volition beryllium much open
ENS’ DAO is simply a governance radical comprising token holders that ballot connected decisions and issues related to the task by staking tokens.
According to the latest proposal, the DAO already has respective ownership responsibilities but did not person power implicit the halfway ENS basal sanction until now.
The DAO volition summation circumstantial capabilities by controlling the ENS root. The ownership alteration volition let the DAO to create, manage, and permanently fastener top-level domains isolated from the imperishable and unchangeable .eth domain. It volition besides let the DAO to update reverse resolutions that representation addresses backmost to a name. The DAO whitethorn besides present superior domain names connected layer-2 networks.
A snapshot indicates that voting concluded connected Dec. 15, 2023. Virtually 100% of the staked tokens, oregon 1.9 cardinal ENS, were staked successful favour of DAO ownership. Johnson was 1 of the largest voters, staking 155,000 ENS successful favor. Less than 17 ENS tokens were staked against the program oregon were utilized to abstain.
The station Ethereum Name Service present afloat decentralized arsenic DAO takes control appeared archetypal connected CryptoSlate.