Saturday, June 15, 2024

Ethereum Identify Service now totally decentralized as DAO takes management

Ethereum Identify Service (ENS) has achieved decentralized governance, in accordance with a message from the challenge’s creator on Dec. 14.

ENS is a naming system for the Ethereum blockchain that provides human-readable names to varied assets, together with crypto wallets and web sites. Till now, the challenge’s root node was managed by members of the Ethereum group.

Nick Johnson, ENS founder, endorsed the change in possession. He wrote on X:

“[This is] really the tip of an period. Right here’s the message I simply despatched to the ENS root keyholders, requesting the switch of the final of their powers to the DAO.”

Johnson’s hooked up e mail acknowledged that the Decentralized Autonomous Group (DAO) of ENS, which is a governance group shaped and managed by ENS token holders, voted unanimously to accumulate management of the challenge’s root node.

He mentioned that, in response to these voting outcomes, he created a transaction to execute two actions that switch root management to the DAO deal with (pockets.ensdao.eth). He wrote that this transaction transfers all remaining multisig duties to the DAO, thereby “retiring the multisig solely.” It’s unclear whether or not the opposite multisig house owners have accredited the transaction.

People who beforehand managed ENS’ multisig embody Chainlink’s Sergey Nazarov, Metamask’s Dan Finlay, MyCrypto’s Taylor Monahan, Colony’s Aron Fischer, the Ethereum Basis’s Jason Carver and Martin Swende, and Johnson himself. Johnson addressed these people in his message, writing: “Thanks a lot … in your service to ENS through the years.”

ENS governance shall be extra open

ENS’ DAO is a governance group comprising token holders that vote on choices and points associated to the challenge by staking tokens.

In line with the newest proposal, the DAO already has a number of possession duties however didn’t have management over the core ENS root title till now.

The DAO will acquire particular capabilities by controlling the ENS root. The possession change will enable the DAO to create, handle, and completely lock top-level domains other than the everlasting and unchangeable .eth area. It can additionally enable the DAO to replace reverse resolutions that map addresses again to a reputation. The DAO might also introduce major domains on layer-2 networks.

A snapshot signifies that voting concluded on Dec. 15, 2023. Just about 100% of the staked tokens, or 1.9 million ENS, have been staked in favor of DAO possession. Johnson was one of many largest voters, staking 155,000 ENS in favor. Lower than 17 ENS tokens have been staked towards the plan or have been used to abstain.

Related Articles


Please enter your comment!
Please enter your name here

Latest Articles