The cryptocurrency market has been shaken by two significant events recently: zkSync’s takeover of the ZK ticker and the incentivization of researchers at the Ethereum Foundation in EigenLayer tokens. These events sparked heated debate in communities and raised important questions about the ethical and governance structure of the crypto world.
zkSync and ZK Ticker problem
The fact that the zkSync (ZK) altcoin, which will be listed on the Bybit exchange in the coming period, will receive the ZK ticker of Polyhedra Network (formerly ZKB), was met with reaction by some segments. Polyhedra Network will not be able to be bought and sold on Bybit with the ZK ticker. Polyhedra developers accused zkSync developers of stealing their tickers. However, there are those who argue that Polyhedra does not deserve the ZK ticker. Polyhedra Network was previously known as ZKbridge and had the ticker ZKB. However, they changed it to ZK after it was listed on the OKX exchange.
Polyhedra developers, in their statement on the social media platform He also argued that Web3 should not be a breeding ground for bullying.
Conflict of interest at Ethereum Foundation
The Ethereum Foundation has begun developing a formal policy to address potential conflicts of interest after it announced that two of its researchers received “significant” incentives in EigenLayer tokens. Aya Miyaguchi, Director General of the Foundation, emphasized that the organization’s reliable neutrality is crucial to its role in the ecosystem. Miyaguchi explained that relying on culture and individual decisions is not enough and that they have been working on an official policy to address this problem for some time.
Lefteris Karapetsas, a former ETH software engineer, argued that the Ethereum Foundation should pay its employees adequately. In this way, according to Karapetsas, employees would not need to seek additional compensation packages. These two events raise important questions about the ethical and governance structure of the crypto world. The ZK ticker issue raises concerns about unfair profit and trademark rights infringement. The conflict of interest in the Ethereum Foundation calls into question the impartiality and reliability of the organization.
The future of the cryptocurrency market will depend on how it finds solutions to such problems and manages them ethically. It is of great importance that communities and regulatory institutions take an active role in these issues and take the necessary precautions.
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