zkSync has completed its decentralization process with the latest v24 upgrade. Additionally, the altcoin project gave some hints for the token launch. These clues point to a possible date for the airdrop. Meanwhile, TVL reached $141 million. The latest upgrade paved the way for community governance and token airdrop.
The ultimate protocol upgrade of altcoin zkSync
zkSync, an Ethereum Layer-2 network, is rolling out its latest protocol upgrade, v24. Thus, it shows that the decentralization process is ready to be completed. This change is a step towards delegating network management to the public. It also hints at the upcoming token launch. ZkSync has been focusing on full decentralization since supporting EIP-4844 in March. The upcoming v24 release will be the last consecutive protocol upgrade required to hand over network management to the community. ZkSync announced that other parts of the decentralization will be ready by the end of June.
Decentralization is a challenging process that requires full attention to detail in terms of technology and legal frameworks. The altcoin ultimately favors long-term underlying technology over short-term gains. Thus, zkSync shows that it is determined to become one of the important players in the industry.
Upcoming token launch and airdrop excitement!
The V24 upgrade announcement triggered speculation about a possible token launch. zkSync has given the community a hint about an upcoming governance token airdrop by the end of June. This anticipated airdrop has been highly anticipated since last year, when investors transferred over $8 million in tokens to zkSync to qualify for it. According to DefiLlama, total value locked (TVL) on zkSync currently stands at $141 million. On the ZkSync X platform, he shared the following:
The upcoming v24 release is the last expected protocol upgrade before handing over network management to the community. The remaining missing parts will be completed by the end of June.
Technical developments and their impact on the industry
zkSync, the developer of zero-knowledge (ZK) rollup technology, is designed to scale Ethereum through cheaper transactions using off-chain computing and data storage. The Layer-2 network uses zero-knowledge cryptography, which is among the most promising developments in Blockchain technology.
The issuance of a governance token is the next step in a series of airdrops from projects such as EigenLayer, Renzo, Ethena and Wormhole, which have chosen to reward early adopters rather than holding traditional token sales. The team designed this method to ultimately create a sense of loyalty and involvement in the community. Meanwhile, cryptokoin.comAs you follow from , Matter Labs, the company behind zkSync, managed to raise $458 million from investors such as Blockchain Capital and Dragonfly Capital. It will use this financial support to realize its goal of producing efficient Blockchain solutions.
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