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Ethereum Name Service Proposes ENSv2 Upgrade for Ethereum Mainnet

BullishMedium impact
ENSUSD$6.03 1.62%ETHUSD$2,500.97 2.31%

Ethereum Name Service (COINBASE:ENSUSD) founder Nick Johnson has submitted a draft proposal to deploy the protocol's next-generation upgrade, ENSv2, onto the Ethereum (BITSTAMP:ETHUSD) mainnet. The proposed protocol upgrades domain management and user permission settings across the network.

Under the rollout plan, existing domain owners will be able to maintain and renew their current addresses without requiring an immediate migration, though new ".eth" registrations will be temporarily paused for several hours during the transition. Additionally, the upgrade marks a significant shift in governance, as ENS Labs intends to transfer its remaining administrative control directly to the decentralized autonomous organization.

Before any changes are implemented, the draft proposal must pass a seven-day vote requiring simple majority support and participation from at least 1 million ENS tokens. If approved, a mandatory waiting period of at least two days will apply before the protocol deployment goes live.

Key points

  • ENS founder Nick Johnson submitted a draft proposal to launch the ENSv2 protocol on the Ethereum mainnet.
  • The ENSv2 upgrade improves domain management settings and will transfer remaining administrative authority to the DAO.
  • Existing domain holders can keep their addresses without migrating immediately, though new registrations will briefly pause during deployment.
  • Approval requires a seven-day DAO vote with at least 1 million ENS participating, followed by a minimum two-day waiting period.

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Questions and answers

What is the proposed ENSv2 upgrade for Ethereum Name Service?

ENSv2 is a protocol upgrade for Ethereum Name Service designed to enhance domain management and permission settings on the mainnet.

Will existing ENS domain holders need to migrate immediately?

No, current domain holders can continue using and renewing their addresses without migrating right away, with the option to move to ENSv2 later.

What is required for the ENSv2 mainnet proposal to pass?

The draft proposal needs simple majority support in a seven-day DAO vote with at least 1 million ENS participating, plus a two-day delay before execution.