zkSync, the Ethereum Layer-2 network, is nearing the completion of its decentralization process with the imminent release of the final protocol upgrade, v24. This upgrade not only paves the way for a forthcoming token launch, but also signifies a step closer towards transferring network management to the community.
After endorsing EIP-4844 in March, zkSync redirected its focus towards achieving full decentralization. The upcoming version, v24, will be the last consecutive protocol upgrade as zkSync aims to hand over network governance to the community. The remaining components of decentralization are expected to be available by the end of June.
Decentralization is a complex process that requires meticulous attention to legal and technological frameworks. By prioritizing long-term foundational technologies over short-term benefits, zkSync is determined to become a key player in the industry. With this commitment, zkSync aims to usher in a new era of verifiable internet access for billions of individuals.
The release of the v24 upgrade has sparked speculation about a potential token launch. zkSync has dropped hints that the community may anticipate an airdrop of governance tokens by the end of June. Last year, investors sent nearly $8 million worth of tokens to zkSync in anticipation of this airdrop. As of now, the community eagerly awaits further developments. According to DefiLlama, the total value locked (TVL) in zkSync has reached $141 million.
zkSync, the developer of zero-knowledge (ZK) rollup technology, was created to assist Ethereum in expanding its capabilities and reducing transaction costs through off-chain computing and data storage.
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