6 months ago
ENS Labs, the institution down the Ethereum Name Service, said Tuesday that it picked Linea's exertion to physique its upcoming layer-2 network, Namechain.
Linea is simply a zero-knowledge rollup that came retired successful July 2023 and was built by Ethereum infrastructure elephantine Consensys. It is the seventh-largest rollup network, according to L2Beat, with $1 cardinal locked successful its ecosystem.
ENS Labs said it picked Linea to physique its web for 2 reasons. "One is benignant of values alignment,” said Nick Johnson, the laminitis and pb developer of ENS. The different has to bash with speed.
Rollups are a peculiar benignant of blockchain wherever 1 tin transact faster and astatine a little cost. There are 2 kinds of rollups: optimistic and zero-knowledge. Optimistic rollups usage optimistic proofs, which person a seven-day model to quality transactions earlier they are finalized (proofs are assumed to beryllium "optimistic" that nary 1 volition quality their contents). Zero-knowledge rollups, by contrast, usage zero-knowledge cryptography, seen by galore arsenic a superior technology, to unafraid proofs and finalize those proofs wrong minutes.
ENS has been described arsenic "the telephone publication for Web3," but a much precise analogy is the web's domain sanction work (DNS). The domain sanction "CoinDesk.com" is easier to retrieve and benignant than a numerical IP address. Similarly, ENS handles similar parishilton.eth, which the namesake heiress acquired successful 2021, are much relatable than the strings of letters and numbers that marque up Ethereum wallet addresses.
For this service, "we request accelerated finality,” Johnson said. That's due to the fact that “you privation to beryllium capable to update your ENS sanction and person the concatenation bespeak it successful the smallest interval possible. And to bash that and person it stay decentralized and secure, we request accelerated finality, and optimistic roll-ups can't present that," Johnson said.
The quality comes arsenic different large crypto projects denote their intentions to rotation retired layer-2 networks, though dissimilar ENS, immoderate of the biggest names successful blockchain person tapped Optimism’s OP Stack to physique retired their networks.
ENS volition beryllium 1 of the archetypal large projects to physique retired a layer-2 blockchain based connected Linea's exertion (Linea is besides gathering a layer-2 web for blockchain wallet exertion Status.)
The squad down Linea said past period that it plans to issue a Linea token. Both Johnson and Nicolas Liochon, the laminitis of Linea, told CoinDesk that determination are nary factual plans yet for however that token would beryllium utilized successful the Namechain ecosystem.
Liochon said having the Namechain squad moving connected the Linea stack volition assistance fortify and decentralize the L2 protocol.
“We truly privation to person aggregate organizations contributing to Linea, and we enactment connected having much organizations too, arsenic a mode to marque [the network] much secure,” helium said. “So really, we privation to person aggregate teams truthful there's nary centralization point.”
Read more: Ethereum's ENS Identity System Set to Launch Own Layer-2 Blockchain
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