CDS Crypto News ZKsync Era Mainnet: New Governance Features and Recent Transaction Trends
Crypto News

ZKsync Era Mainnet: New Governance Features and Recent Transaction Trends

93
ZKsync Era Mainnet: New Governance Features and Recent Transaction Trends

ZKsync Era Mainnet: ZKsync Launches Decentralized Governance Model on Mainnet

ZKsync Era Mainnet– ZKsync, the EVM-compatible ZK Rollup, has officially launched its governance model with active smart contracts on the mainnet. This new system introduces a decentralized governance structure, designed to foster community involvement in decision-making processes.

Governance Structure Overview

The governance model of ZKsync is built around three key bodies:

  • Token Assembly: This body allows token holders and their delegates to propose and vote on protocol changes.
  • Security Council: Composed of security experts, this council reviews and approves code changes to ensure system integrity.
  • Guardians: They hold veto powers to ensure decisions align with ZKsync’s core values and principles.

Background and Timeline

Matter Labs, the team behind ZKsync, launched its Era mainnet in March 2023. By June 2024, they unveiled detailed plans for their governance system and rolled out the ZK token along with an airdrop.

Recent Transaction Data

Despite the advancements in governance, ZKsync has experienced a significant drop in daily transactions. The seven-day moving average of daily transactions on the ZK Rollup has decreased by nearly 85% this year, falling from approximately 1.3 million to around 195,000 transactions.

FAQs

What is ZKsync’s new governance model?

ZKsync has launched a new governance model featuring decentralized smart contracts on the mainnet. This model includes three main bodies: the Token Assembly, the Security Council, and the Guardians, designed to distribute governance power and ensure balanced decision-making.

When did ZKsync’s governance model go live?

The governance model went live with the activation of smart contracts on the ZKsync mainnet. The Era mainnet was rolled out by Matter Labs in March 2023, and detailed governance plans were revealed in June 2024.

Merlin Chain and BitcoinOS Launch Grail Bridge: Enhancing Bitcoin Cross-Chain Security with ZKP

Leave a comment

Leave a Reply

Related Articles

Vitalik Buterin Unveils “Info Finance” to Revolutionize Data Collection and Sharing

Discover Vitalik Buterin's new concept of 'Info Finance' and how blockchain can...

Ethereum vs Bitcoin: What’s Next for the Crypto Market After Record Price Breaks?

Ethereum has surged past the $3,000 mark for the first time since...

Ether Bull Run Accelerates After Positive News from Fed and Trump Election Win

Ether Bull Run Accelerates After Positive News from Fed and Trump Election...

Ethereum Price Nears $3K as BlackRock ETF Sees Record Inflows

BlackRock’s Ethereum ETF sees record $60M inflows as ETH hovers near $3K—market...