Ethereum Name Service plans major .eth overhaul with one irreversible catch for domain holders

Ethereum Name Service has proposed activating ENSv2 without requiring existing .eth domain holders to migrate to the new system.The Oct. 11 proposal would let users keep their current names indefinitely, as long as they keep renewing them, while offering a permanent migration option for those who want access to upgraded features.Once activated, ENSv2 would handle all new .eth registrations, replacing the existing registration infrastructure. Holders who migrate would permanently transfer management of their domains to the new system, with no mechanism for returning their original tokens.The proposal remains subject to approval by the ENS decentralized autonomous organization (DAO), whose Oct. 12 governance bulletin listed the vote as pending. ENS has not announced a launch date.ENSv2 introduces permanent migration and higher registration feesThe upgrade would replace ENS's existing registry, introduced in 2017, with a hierarchical structure that allows individual domains to maintain separate registries for their subdomains.The changes would give owners more flexibility in assigning permissions, letting businesses and decentralized applications delegate responsibility for specific n...