Ethereum

Arbitrum

Optimism

Ethereum Name Service

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/ethereum-based-altcoin-surges-after-vitalik-buterins-endorsement/" data-wpel-link="internal">Ethereum-Based Altcoin Surges After Vitalik Buterin’s Endorsement</a><br></p>
<p style="text-align: justify"><strong><a href="https://en.coin-turk.com/top-whale-wallet-addresses-persistently-accumulating-eth/" data-wpel-link="internal">Ethereum</a></strong> (<a href="https://en.coin-turk.com/bitcoin-ethereum-and-ripple-is-the-rise-in-these-coins-permanent/" data-wpel-link="internal">ETH</a>) based altcoin experienced a value surge after ETH founder Vitalik Buterin stated the project was crucial for the cryptocurrency ecosystem.</p> 
<h2 id="innovation-for-layer-2-projects">Innovation for Layer 2 Projects</h2> 
<p style="text-align: justify">Vitalik Buterin, through <a href="https://newslinker.co/category/social-media/" data-wpel-link="exclude">social media</a> platform X, stated that all Layer 2 (L2) projects should integrate with the Ethereum Name Service (ENS), a platform that allows users to purchase a “domain name” on the Ethereum blockchain instead of using alphanumeric wallet addresses. These domain names can be used to send and receive money. Vitalik Buterin said the following:</p> 
<blockquote> 
 <p>All L2s (trustless, merkle-proof based) should operate on CCIP resolvers, so we can directly register, update, and read ENS subdomains on L2s. ENS is very important, it needs to be affordable!</p> 
</blockquote> 
<p style="text-align: justify">According to data from blockchain data platform Dune Analytics, there are approximately 2.14 million active ENS names and over 801,000 unique participants. Layer-2 projects like Optimism (OP) or Arbitrum (ARB) are built on top of Ethereum to increase scalability and reduce costs. The CCIP or cross-chain interoperability protocol is a protocol that allows for the resolution of information on-chain or off-chain from the Ethereum Virtual Machine (EVM).</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="size-full wp-image-297847 aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/ethh.jpg" alt="" width="1310" height="582"></p> 
<h2 id="new-service-from-ethereum">New Service from Ethereum</h2> 
<p style="text-align: justify">In the last 24 hours, ENS was trading at its lowest level of $8.88. After Buterin’s social media post, ENS nearly gained 60%, rising to $14.20. Since then, ENS has given up some of these gains and was trading at $12.82 at the time of writing. Consequently, the Ethereum-based altcoin gained value following Vitalik Buterin’s proposal for integration with the Ethereum Name Service (ENS).</p> 
<p style="text-align: justify">Buterin, in his statements through social media platform X, mentioned that layer 2 (L2) projects need to integrate with ENS. ENS offers a “domain name” platform that can be used instead of alphanumeric wallet addresses. The integration of Layer-2 projects with this platform could bring innovation and a user-friendly experience to the Ethereum ecosystem.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/ethereum-based-altcoin-surges-after-vitalik-buterins-endorsement/" data-wpel-link="internal">Ethereum-Based Altcoin Surges After Vitalik Buterin’s Endorsement</a></h5>

Ethereum-Based Altcoin Surges After Vitalik Buterin’s Endorsement

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