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Ethereum's Vitalik Buterin Sets Ambitious Target for L2s: Details

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Thu, 4/01/2024 - 11:47
Ethereum's Vitalik Buterin Sets Ambitious Target for L2s: Details
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Ethereum co-founder Vitalik Buterin is supporting a new technological shift for Layer-2 solutions based on the pioneering smart contract protocol.

ENS domain push for L2s

Layer-2 protocols are gradually attaining maturity as each of the top chains like Optimism (OP), Arbitrum (ARB) and Polygon (MATIC) hit big numbers as it relates to ecosystem adoption, product innovation and differentiation.

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In a bid to cater to the growing ecosystem of these high-performant blockchains, Vitalik Buterin is suggesting that these L2s need to keep working on (trustless, merkle-proof-based) CCIP resolvers. This developmental push will help usher in ENS subdomains that are registerable, updateable and readable directly on L2s.

The Ethereum Name Service (ENS) innovation came into the limelight in 2018 as it seeks to bring ease to wallet address identification. Rather than the long alpha-numeric codes that typically characterize private keys, ENS makes it possible to replace these with the user’s name with ".eth" as the suffix.

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Among the many visions Vitalik Buterin has for the blockchain, he believes it is high time L2s also got their name service with a rare incentive boost — to make this name service more affordable. This integration call, if perfected, will serve as a major growth push for Layer-2 protocols to function more effectively and attract new users into their ecosystems.

Leveling playing ground

A growing number of Ethereum Layer-2 protocols are differentiating their solutions in a bid to gain the technological advantage that can help them secure a dominant spot in the ecosystem.

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Should the call to integrate the Ethereum Name Service be adhered to, it will ultimately level the playing ground for these protocols concerning bolstering user experiences and engagements as a whole.

The digital currency ecosystem is evolving in no small measure, with Ethereum particularly facing competition from market rivals like Solana (SOL), Cardano (ADA) and Avalanche (AVAX). The call for ENS integration is a move to help the protocol maintain its dominance in the smart contract world.

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