Ethereum Name Service Disburses $25,000 On Domain Migration Due To Bug

Sateesh Swaminanthan
I am a techsavy, otaku and Crytogeek. loves to talk and write about latest tech, new anime and happenings in Cryptosphere.
  • The work of migration will start on the 27th of January when they will deploy a new ENS contract.
  • On January 29 they would announce the vulnerability publicly and layout the migration plan.
  • The migration will be ending on the 10th of February.

Ethereum Name Service

ENS is an acronym of Ethereum Name Service, which is a unique platform that is a decentralized way to address resources both on and off the Blockchain and ENS enables users to use simple and human-readable names in place of using lengthy hexadecimal addresses.

It is like DNS in which in place of IP addresses it gives a name and domain to access that blockchain hexadecimal address.

ENS had recently found a vulnerability in which it enables a malicious user to set up ENS in a certain way and transfer the ownership to someone else only to retrieve the privileges of ownership later and that is bad.

To fix the issue ENS developers after realizing the issue they quickly migrated the entire infrastructure in a new registry which is on paper easy said than done because the ENS registry was never designed in a way to be migrated in the future.

The migration cost summed up to 140 ETH or $25,200 or 180 ETH by considering the cost of modifying roughly 847k storage slots which is equal to 16,940 Mgas and the total migration cost of that Mgas.

The work of migration will start on the 27th of January when they will deploy a new ENS contract and the new ENS contract will be written in solidity and backward supported for previous ENS.

On January 29 they would announce the vulnerability publicly and layout the migration plan with the deploy of new ENS Contracts.

On the 3rd of February, it is assumed that by then the migration process would be initiated and deactivation of the old registry will commence. This process requires the sign of ENS holders in multiple transactions for the upgraded process. The migration will be ending on the 10th of February.

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