The ENS is “ super-important “, proclaims Vitalik Buterin. This is why the co-founder of Ethereum is asking that Layers 2 like Polygon and Optimism use it to make it accessible and affordable to users of the Ethereum network. His call for the democratization of the registration of ENS addresses has also had a positive impact on the price of Ethereum Name Service’s native cryptocurrency. Although the price has stabilized at $12.9, the initial rise is a testament to Buterin’s influential power and the optimism surrounding ENS.
Vitalik Buterin causes a spectacular rise in the ENS
After presenting the new Ethereum roadmap, Vitalik Buterin focuses on another subject: Ethereum Name Service. For him, the time has come for the democratization of ENS, and layer 2 networks such as Arbitrium, Polygon and Optimism have a share of responsibility in this new orientation.
“ All L2s should work on CCIP (trustless, merkle-proof) resolvers, so that we can have registerable, updateable and readable ENS subdomains directly on the L2s.
ENS is super-important, it must be affordable! »
According to Cryptopolitan, the governance token of the Ethereum Name Service (ENS) saw a spectacular rise of 72% on January 3. Praise from Ethereum co-founder Vitalik Buterin contributed greatly to this bull run.
The latter in fact described the ENS as “ super important » and called for the integration of this platform into layer 2 networks, such as Optimism and Polygon.
This momentum propelled the crypto price to new highs, hitting $14.7, its highest level in eight months, reflecting the enthusiasm and potential for increased adoption of ENS.
A vital role in the Ethereum ecosystem
The Ethereum Name Service simplifies transactions by substituting complex alphanumeric addresses with “.eth” domain names. This simplification strengthens the user-friendliness and accessibility of transactions on the Ethereum network.
Let us also note that the Shiba Inu team has just launched a domain name variation more suited to Web3: “.shib”.
Additionally, the proposed 3% tax on ENS domain names by Vitalik Buterin in September 2022 aims to discourage speculative hoarding and promote broader adoption and decentralized ownership. In this way, the ENS is in tune with the fundamental principles of Ethereum.
In summary, the ENS saw its value and legitimacy increased following the approval of Vitalik Buterin. The platform, at the heart of the Ethereum ecosystem, continues to play a crucial role in simplifying transactions. At the same time, it blends perfectly with the principles of decentralization dear to the Ethereum community. Vitalik, in search of a new approach to better establish this decentralization, has been the laughing stock of the Cardano community recently.
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