Ethereum Name Service Seeks DAO Approval for ENSv2 Rollout on Ethereum Mainnet
Summary
- Ethereum Name Service said it is seeking to deploy ENSv2, a next-generation protocol that improves domain management features, on the Ethereum mainnet.
- If the ENSv2 proposal is approved, new ".eth" domain registrations on the current system will be halted, with new registrations temporarily paused for several hours.
- Approval requires at least 1 million ENS to participate over seven days and a majority vote in favor, after which ENS Labs plans to hand its remaining administrative authority to the DAO.
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Ethereum Name Service is seeking to deploy ENSv2, a next-generation protocol designed to improve domain management, on the Ethereum mainnet.
Cointelegraph reported on October 13 that ENS founder Nick Johnson submitted a draft proposal to the decentralized autonomous organization, or DAO, to activate ENSv2.
ENSv2 is a next-generation protocol that upgrades domain management and permission settings. If the proposal is approved, new domain registrations on the current system will stop as ENS transitions to ENSv2. New registrations for ".eth" domains will be temporarily suspended for several hours during the process.
Existing domain holders will be able to keep using or renewing their domains without a separate migration. They will also be able to move to ENSv2 at a time of their choosing. After the upgrade, ENS Labs plans to hand its remaining administrative authority to the DAO.
The proposal remains in draft form and must go through a DAO vote before it can be implemented. Approval requires participation of at least 1 million ENS in a seven-day vote and support from a simple majority. Even if it passes, a waiting period of at least two days will still apply.
Uk Jin
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