Ethereum Name Service Decentralizes and ERC-3643 for Compliant Asset Tokenization Adopted

By: Isha Das

The Ethereum Name Service (ENS) has achieved decentralized governance according to the project's creator. This is a significant move, as ENS, which is a naming system on the Ethereum blockchain for resources, was previously managed by members of the Ethereum community. Now, the Decentralized Autonomous Organization (DAO) of ENS, a governance group managed by ENS token holders, controls the project's root node. The change allows DAO to introduce primary domain names on layer-2 networks and update reverse resolutions that map back to a name.^[1]

Additionally, the Ethereum community has officially adopted the ERC-3643 Ethereum Improvement Proposal (EIP), making it a recognized standard for compliant tokenization of real-world assets. The ERC-3643 standard is geared towards securities tokenization, real-world assets, payment systems, and loyalty programs. Notably, it verifies users' token eligibility via a self-sovereign identity (SSI) framework, offering anonymous yet verifiable credentials.^[2]