zkSync has introduced ZK Nation, a new governance model aimed at enhancing community engagement.
Recently, Matter Labs’ zkSync, a prominent Layer 2 scaling solution for Ethereum (ETH), introduced ZK Nation as a governance model.
The purpose of this model is to promote people’s engagement in the ecosystem. In addition, this notification includes details about the airdrop and the token creation event that will take place during the current month.
zkSync Introduces Governance with ZK Nation
The introduction of ZK Nation, which simultaneously improves the decentralization and independence of the network, invites token holders to participate more directly in the protocol’s development and decision-making processes.
Within the zkSync network, the recently released ZK Nation represents a significant step toward transitioning to a decision-making process that is more decentralized.
This assures that token holders are able to propose, vote on, and discuss significant protocol improvements and enhancements, as mentioned in an official blog post.
As a result, it provides the community with leverage and strengthens the connection with the protocol’s potential future developments. The Token Assembly, Security Council, and Guardians are the three primary bodies that make up the governance model.
These three groups form the core of the governance model. Both groups bear the primary responsibility of adhering to the protocol and preparing to meet the community’s requirements. By providing token holders with the opportunity to vote through their elected representatives, we increase community involvement and increase efficiency.
Security Council Ensures Technical Network Integrity
We are forming the Security Council as a preventative measure to ensure the technological integrity of the zkSync network. Experts in blockchain security and cryptography form this group, responsible for evaluating and approving the proposed upgrades.
This is because the changes must increase security without having a detrimental impact on the blockchain’s functionality. On the other hand, the Guardians have a responsibility to protect the fundamental ideals that form the foundation of the zkSync community.
They are also vested with the authority to challenge particular decisions or take immediate action in the event that the legitimacy of the network is brought into question.
This multilevel method decentralizes the zkSync ecosystem and aims to establish fair governance by considering community opinions and the technological soundness of the system.
Furthermore, it aligns with zkSync’s emphasis on the use of zero-knowledge proofs in scalability and privacy enhancements, demonstrating the company’s ongoing efforts toward research and user advancements.