zkSync, a leading Layer 2 scaling solution for Ethereum (ETH) by Matter Labs, has revealed ZK Nation, a governance model to increase people’s engagement in its ecosystem. This announcement also contains information regarding the token generation event and the airdrop to occur this month. The introduction of ZK Nation strengthens the network’s decentralization and independence

The post zkSync Introduces ZK Nation for Decentralized Governance appeared first on CoinGape.

zkSync Introduces ZK Nation for Decentralized Governance

zkSync, a leading Layer 2 scaling solution for Ethereum (ETH) by Matter Labs, has revealed ZK Nation, a governance model to increase people’s engagement in its ecosystem. This announcement also contains information regarding the token generation event and the airdrop to occur this month. The introduction of ZK Nation strengthens the network’s decentralization and independence and invites token holders to participate more directly in the protocol’s development and decision-making.

zkSync Introduces Governance with ZK Nation

The newly released ZK Nation is a major step towards a more decentralized decision-making process within the zkSync network. As stated in an official blog post, this ensures that token holders can propose, vote, and debate critical protocol modifications and enhancements. Thus, it gives the community power and enhances the link with the protocol’s future developments.

The governance model is structured around three main bodies: the Token Assembly, the Security Council, and the Guardians. Both have important responsibilities regarding the protocol’s adherence and readiness to address the community’s needs. This increases community involvement by allowing token holders to vote through their elected representatives, increasing efficiency.

Security Council Ensures Technical Network Integrity

The formation of the Security Council is a preventive measure toward ensuring the technical integrity of the zkSync network. Consisting of blockchain security and cryptography specialists, this body is responsible for evaluating and approving the proposed upgrades, as modifications must improve the security without a negative impact on the functionality. On the other hand, the Guardians are required to protect the basic principles of the zkSync community and have the power to reject certain decisions or make an emergency action if the network’s credibility is at stake.

This multilevel approach decentralizes governance within the zkSync ecosystem and aims to achieve fair governance considering technical soundness and community opinion. Also, it corresponds with zkSync’s focus on using zero-knowledge proofs in scaling and privacy improvements, demonstrating its continuing efforts toward research and user advances.

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