Consensys establishes a Swiss non-profit to support Linea decentralization

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As a seasoned researcher with a keen interest in blockchain technology and decentralization, I find the establishment of the Linea Association by Consensys truly intriguing. Coming from a background where I’ve seen numerous projects promising decentralization but ultimately falling short, it’s refreshing to see a team that seems genuinely committed to this ideal.

ConsenSys, the developers behind Metamask, have announced the creation of the Linea Association, a Swiss non-profit organization focused on promoting decentralization within their Layer-2 zkEVM project called Linea.

At the Devcon event held in Bangkok, Thailand on November 13th, ConsenSys, creators of Linea – a Layer-2 zero-knowledge Ethereum Virtual Machine rollup, established the Linea Association.

As per a recent blog post I’ve read, I am privy to the fact that the Linea Association is independently established in Switzerland and operates as a non-profit entity. Its primary focus is on fostering the development of Linea’s open-source decentralized technology and overseeing the governance of its ecosystem.

Among the significant aspects championed by the Linea Association is the concept of tokenholder governance. Consequently, the association intends to debut its native token, LINEA, towards the close of the first quarter in 2025. This LINEA token will enable holders to participate in decision-making processes within the organization.

Although a detailed plan isn’t provided yet, the blog post suggests an upcoming event to distribute LINEA tokens for contributors within the ecosystem. The Linea Association will later disclose information about the token’s structure, economics, and purpose. It was hinted that LINEA could potentially serve functions beyond governance in the future.

The Swiss Association empowers token holders to participate in decision-making processes related to specific areas within the organization, such as the management of Linea’s intellectual property and resources allocated for its mission through a dedicated treasury.

The structure of the organization will include a Board of Directors, a collective employee body known as the General Assembly, employees who report to an Executive Director, and a Token Governance Group responsible for decision-making related to tokens.

Nicholas Liochan, founder of Linea and a member of its governing association, emphasizes that the essence of Linea’s vision lies in decentralization. As such, he advocates for the platform to be communally owned and managed, rather than controlled by a single, central authority.

According to Liochon, setting up the Linea Association means that the direction of the protocol will be controlled by its user and developer community, enabling them to work together to determine its path and make decisions openly and honestly.

He explained that the organization’s core mission is to “empower the world to live on-chain,” which will be supported by an ecosystem of Ethereum(ETH) technologists, builders, and users.

Joseph Lubin, CEO of ConsenSys, underscored that the establishment of Linea as an autonomous Non-Governmental Organization complements ConsenSys’ aim of establishing a Decentralized Network State that thrives on a globally dispersed economic system.

According to Lubin, by means of projects such as Linea, we are constructing a basis for a world that is both open and collaborative, free from censorship. In this environment, people and communities worldwide can engage freely and securely.

Beginning August 2023, Linea has experienced rapid growth, becoming one of the fastest-expanding zkEVM platforms on Ethereum. In just under a year and a half, it has facilitated over 230 million transactions. Currently, Linea is in the initial stage of its decentralization plan, a multi-phase process that will eventually span five stages, starting from Phase 0 to Phase 4.

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2024-11-13 14:58