ENS abandons plans for Namechain L2, citing Ethereum scaling

ENS has decided to abandon its plans for the Namechain Layer 2 solution, opting instead to implement its ENSv2 upgrade directly on the Ethereum network. This decision comes in light of a significant 99% reduction in gas fees and the anticipated improvements from Ethereum's scaling solutions. The move suggests confidence in Ethereum's infrastructure and could enhance the usability of ENS services.