Optimism Security Council to be Established, OP Price Increased by More than 15%

Crypto News – In order to facilitate the collective’s journey toward a more decentralized Superchain Network, the Optimism (OP) team announced on X on September 29, 2023, that it is beginning the process of establishing a Security Council.

Optimism Security Council to be Established, OP Price Increased by More than 15%

The creation of a “world” in which no one individual has absolute power was Optimism’s principal goal in making this choice. According to Optimism’s thread, the proposed Security Council framework has been carefully designed to comply with the requirements for Stage 1 decentralization, with a focus on giving safety precedence above liveness. The Security Council will require a 75% majority vote in order to convene with a minimum of eight members, it was also revealed.

The Community Responds Positively to Developments at Optimism

A succession of governance votes will be used to carry out any decisions as well. The Security Council will serve as a co-signer alongside the current OP Mainnet multisig during the initial stages, creating a 2/2 signing arrangement. A proposal for future governance that would give the Security Council sole power over the multisig would then be made.

The Token House will vote on October 12, 2023, to decide whether or not to accept or reject this change to the security architecture of the OP Mainnet, according to the announcement made by Optimism on X. The cryptocurrency world appears to have reacted well to Optimism’s most recent news so far.