- ConsenSys establishes the Linea Association to support decentralized governance of its Layer-2 zkEVM technology.
- Linea Association plans to launch a governance token in early 2025, enabling community-driven protocol control.
ConsenSys, the parent company of the popular crypto wallet MetaMask, has made a significant step toward decentralization by establishing the Linea Association, a non-profit corporation established in Switzerland.
This association seeks to help Linea, a Layer-2 zero-knowledge Ethereum Virtual Machine (zkEVM) protocol meant to boost Ethereum’s scalability while maintaining security and decentralization, continue to develop and be governed.
Today we reach a major milestone: Introducing the Linea Association, an independent Swiss non-profit dedicated to advancing our ecosystem’s development and governance. This marks a significant step toward true network decentralization.
For more information, follow @LineaAssn and… https://t.co/Uw58YQwIyQ
— Linea (@LineaBuild) November 13, 2024
Linea Token to Empower Community in Decentralized Governance and Resource Allocation
This action shows ConsenSys’s dedication to building a decentralized framework, and the Linea Association intends to start its governance token, Linea, in the first quarter of 2025 in line with this aim.
By means of this token, the organization aims to empower the community by entitizing them with a share in procedures concerning the governance and resource allocation of the protocol.
Leveraging zero-knowledge technology, which enables effective transaction processing without compromising the fundamental decentralizing qualities, Linea is a Layer-2 zkEVM solution that increases the scalability of Ethereum.
The Linea Association wants to create a governance structure using this creative way whereby several stakeholders get power distribution.
Once launched, the Linea token will enable token holders to actively participate in governance, monitor the intellectual property of the protocol, and handle Treasury operations, decentralizing the control of this fast-changing environment.
Founder of Linea and board member of the Linea Association Nicolas Liochon underlined the need for decentralization for Linea’s vision. According to him, the protocol is being created to function as a public good, totally owned and under community control, much as the Layer 1 Ethereum network operates.
This community-driven strategy fits Linea’s key goal of decentralizing governance, so building a strong on-chain ecosystem that meets developers, technologists, and Ethereum users all around.
A major turning point in Linea’s path toward a completely dispersed network is this founding of the Linea Association. For Ethereum, a common aim among fans and developers seeing a decentralized future, it marks a significant step forward in developing an inclusive, robust, and community-led infrastructure.
ConsenSys and the Linea Association want to create a governance structure that welcomes broad involvement from stakeholders by means of the Linea token, therefore enabling a really democratic network.
On the other hand, CNF previously reported that legal and SEC-related regulatory constraints had resulted in ConsenSys cutting 20% of its employees.
