ZkSync Protocol launches Community driven Governance Hub called ZK Nation
zkSync, Ethereum’s Layer 2 scaling solution, has launched a new community-driven governance hub called ZK Nation.
Welcome to ZK Nation, a community to govern, defend, and grow the ZKsync protocol.
— ZK Nation (@TheZKNation) June 10, 2024
Read the full announcement here:https://t.co/HRArUnJt3m pic.twitter.com/GtgxmNalqN
According to a blog post from the platform, the ZK Nation community stated that today is a significant milestone in the effort to strengthen the ZK Nation and foster a decentralized future. “Governing, protecting, and expanding the ZKsync protocol is the common goal of the ZK Nation. ZK Nation unites people, organizations, and technologies to promote freedom and accelerate intentional innovation, bringing the world one step closer to realizing the vision of the ZK Credo.”
The announcement stated that blockchains and cryptography are once again changing the course of our shared future. With zero-knowledge (ZK) proofs that enable an ever-expanding verifiable blockchain network and a protocol built on an integrity and security foundation, ZKsync is poised to power this new wave of progress and bring digital sovereignty to billions. For ZKsync to continue being resilient in the future, it needs a thriving community that has the ability to influence significant change via protocol governance.
The ZKsync protocol token is designed to enable token holders to vote, suggest protocol upgrades, delegate, and discuss using ZK Nation's onchain governance framework. ZKsync intends to establish a governance framework that will allow ZK Nation to direct the protocol's continued evolution. Protocol token holders will be able to vote on and propose changes for protocol upgrades and network parameter adjustments.
ZKsync further stated in the post that within the ZKsync governance structure, there are three onchain bodies: the Guardians, Security Council, and Token Assembly. They will all be housed in different legal frameworks to provide the Assembly with the highest level of protection. Together, they will communicate through ZKsync's coordination channels and smart contracts, including the Tally voting and delegation portal.
In the upcoming weeks, more information about the ZK Nation's governance structure, ZKsync protocol delegation procedure, protocol token distribution, and ways for innovators, developers, or just supporters of freedom to get involved in the development of ZKsync will be released.
Since the mainnet launch of ZKsync Era in March 2023, ZKsync has proven its ability to scale Ethereum with high throughput, low fees, and the capacity to support interoperable ZK chains as an elastic blockchain network. In little more than a year, users of the ZKsync protocol have generated over 6 million wallet addresses. Additionally, the protocol has validated over 350 million transactions to date and has consistently low fees among L2s.
Disclaimer: This information should not be considered financial advice by any means. Please do your own research before making any investment decisions. The views in the articles are personal opinions only. Whale Insider is not responsible for any financial losses incurred.