ENS Labs will launch its own L2 network

BlockBeats news, on November 11th, according to CoinDesk, ENS Labs, the company behind Ethereum Name Service, is pushing forward with its plan to launch its own Layer 2 network. Katherine Wu, COO of ENS Labs, said that the new network, called Namechain, is expected to go live around the end of next year. It will use zero-knowledge rollups, an scaling technology that can accelerate Block transactions and reduce execution costs by compressing the amount of data published on-chain.