Ethereum

Ethereum Name Service

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 <p>An Ethereum (ETH)-based altcoin is exploding in value after ETH founder Vitalik Buterin said the project is vital to the crypto ecosystem.</p>
 <p>Buterin tells his five million followers on the social media platform X that all layer-2 (L2) projects should integrate with Ethereum Name Service (ENS), a platform that lets users buy a “domain name” on the Ethereum blockchain rather than using default addresses.</p>
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 <p>The domain names on ENS can be used to transfer and receive funds instead of using alphanumeric wallet addresses.</p>
 <p>Says Buterin,</p>
 <p><em>“All L2s should be working on (trustless, merkle-proof-based) CCIP resolvers, so that we can have ENS subdomains registerable, updateable and readable directly on L2s. ENS is super-important, it needs to be affordable!”</em></p>
 <p>According to data from blockchain data platform Dune Analytics, there are about 2.14 million active ENS names and more than 801,000 unique participants.</p>
 <p>Layer-2s, such as Optimism (OP) or Arbitrum (ARB), are built on top of Ethereum to improve scalability and costs.</p>
 <p>CCIP, or cross-chain interoperability protocol, is a protocol that allows for the resolution of information on or off-chain from the Ethereum Virtual Machine (EVM).</p>
 <p>In the past 24 hours, ENS was trading at a low of $8.88. After Buterin’s social media post, ENS soared to $14.20, a nearly 60% gain. ENS has since given up some of those gains and is trading for $12.82 at time of writing.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ethereum-based-altcoin-explodes-as-vitalik-buterin-says-project-is-super-important-tbt75506.html">https://thebittimes.com/ethereum-based-altcoin-explodes-as-vitalik-buterin-says-project-is-super-important-tbt75506.html</a></p>

Ethereum-Based Altcoin Explodes As Vitalik Buterin Says Project Is ‘Super Important’

TheBitTimes

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