ZKsync unveils new governance model with smart contracts

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. Introduction of the new model
  2. Roles of different bodies
  3. Check and balance mechanisms


    4. ZKsync has officially launched a decentralized governance model that includes smart contracts and various mechanisms to maintain a balance of power.

    Introduction of the new model

    The Ethereum Layer 2 protocol ZKsync announced its new governance system in a blog post. It includes smart contracts and is active on the mainnet. The developers stated that the new governance model embodies their key principles, such as mission alignment and resilience.

    Roles of different bodies

    The governance model includes three bodies: Guardians, Security Council, and Token Assembly. The Guardians and Security Council ensure adherence to ZK Credo’s values and protect the protocol from threats. The Token Assembly allows token holders to delegate their voting power.

    Token holders and their Delegates can initiate ordinary upgrades to the ZKsync protocol directly on-chain instead of relying on a single multisig.

    Check and balance mechanisms

    The governance model includes a set of check-and-balance mechanisms to prevent any group from gaining too much power. The Guardians hold veto power over proposals, the Security Council ensures technical security, and the Token Assembly makes decisions on upgrades and token programs.

    The new ZKsync governance system allows the community to participate in decision-making while ensuring balance and protection for the protocol.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

HTX Strengthens Global Compliance and Showcases at TOKEN2049

HTX has made significant strides in global compliance initiatives while participating in TOKEN2049, a major event in the crypto industry held in Singapore.

user avatarDiego Alvarez

SEC Files Charges Against Richard Heart for Fraud

The SEC charged Richard Heart and his entities with conducting unregistered offerings of crypto asset securities.

user avatarMaria Fernandez

HTX Marks 13th Anniversary with Major Celebrations and Trading Events

HTX celebrated its 13th anniversary with major events, including the Anniversary Carnival and Trading Championship 3, highlighting its resilience in the crypto market.

user avatarKenji Takahashi

Richard Heart Arrested in Istanbul on Interpol Charges

Richard Heart, founder of Hex cryptocurrency, was detained in Istanbul under an Interpol Red Notice for aggravated tax fraud.

user avatarGustavo Mendoza

MediaMarkt Saturn Ceases Sales of Ledger Devices Amid Security Concerns

MediaMarkt Saturn has stopped selling Ledger devices due to security concerns following a customer report of a hidden implant.

user avatarRajesh Kumar

Binance Expands into Traditional Finance as Mining Pool Closes

As Binance prepares to shut down its mining pool, the exchange is expanding into traditional finance by providing access to over 7,000 US stocks and ETFs for customers outside the United States.

user avatarMiguel Rodriguez

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.