zkSync, the Layer-2 network for Ethereum, has completed its decentralization process, with the upcoming release of the final protocol upgrade, v24. This milestone not only paves the way for the token launch, but also signifies a significant step towards handing over network management to the community.
After endorsing EIP-4844 in March, zkSync turned its attention to achieving full decentralization. The last consecutive protocol upgrade, v24, will mark the transition of network governance to the community. By the end of June, all the necessary components for decentralization will be in place.
The process of decentralization requires careful consideration of legal and technological frameworks, as it is a one-way journey. zkSync is committed to prioritizing long-term foundational technologies over short-term gains, aiming to establish itself as a prominent player in the industry. Through this commitment, zkSync hopes to usher in a new era of verifiable internet accessible to billions of people.
The release of the v24 upgrade has sparked speculation about a potential token launch. zkSync has hinted that the community can 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 event. The community eagerly awaits the airdrop, as evidenced by the rising Total Value Locked (TVL) in zkSync, which currently stands at $141 million according to DefiLlama.
zkSync, the developer of zero-knowledge (ZK) rollup technology, was created to help Ethereum scale by enabling cheaper transactions through off-chain computing and data storage.
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