ENS Labs, the company behind Ethereum Name Service (ENS), is advancing its L2 network plan. Katherine Wu, Chief Operating Officer of ENS Labs, said that the new network, Namechain, should be launched by the end of next year. It will use zero-knowledge rollup.

In a press release on Monday, ENS Labs stated: "This technology allows Namechain to process and execute transactions outside the main Ethereum network, while still inheriting full Ethereum security, but at only a fraction of the cost."

Wu said the new network will use the infrastructure of an existing zero-knowledge chain compatible with EVM, and the team is in the final stages of choosing which zkEVM to use.