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In a significant development for the Ethereum scaling ecosystem, the Consensys-backed Linea network has transitioned to governance under a nonprofit association, signaling a shift towards enhanced decentralization.
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The newly formed Linea Association aims to solidify the network’s growth, with a governance token expected to launch in early 2025, underscoring the community-driven approach the network is adopting.
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“Linea must be owned and governed openly by all as a public good,” stated the network’s founder, Nicolas Liochon, emphasizing the commitment to decentralization in the network’s future.
Linea, an Ethereum layer-2 network, has launched a nonprofit to govern its operations, with a governance token set for release in early 2025, promoting decentralization.
The Launch of the Linea Association: A New Governance Model
The Linea network, developed under Consensys, has announced a transformative step by establishing the Linea Association to facilitate the governance of its ecosystem. This institution represents a shift that aims to enhance user participation and community resilience, assuring stakeholders of a decentralized future.
Goals of the Linea Association and Upcoming Token Launch
The primary objective of the Linea Association is to foster the network’s decentralization through various initiatives, including the creation of the LINEA token. This token will empower holders to actively participate in governance decisions, providing a mechanism for users to shape the network’s evolution. An airdrop for early contributors is planned, with details on eligibility and timing still to be disclosed.
Concerns Over Decentralization Addressed
Despite its promising vision, Linea has faced scrutiny regarding its centralization, particularly when urgent decisions were needed in past incidents like the hacking of a major decentralized exchange. Following the breach, Linea’s leadership opted to freeze all on-chain activity, raising doubts about the degree of decentralization within the network.
Overcoming Centralization Criticisms
In response to criticism, the Linea Association asserts that its operations will be fundamentally governed by the community. “The establishment of the Linea Association ensures that the protocol’s future lies in the hands of its community,” as expressed by founder Nicolas Liochon. This commitment aims to reassure users that governance will remain transparent and collaborative, addressing past concerns through structured community involvement.
Roadmap to Full Decentralization
The establishment of the Linea Association is part of a broader, multi-year roadmap aiming for complete decentralization by the end of its proposed phases. Currently, the network claims to be at the first of four steps, gradually evolving its governance mechanism, community engagement strategies, and operational structure.
The Growth of Linea in the Ethereum Ecosystem
Despite the challenges, Linea has made waves in the Ethereum ecosystem, branding itself as the fastest-growing zkEVM network. Since its inception in August 2023, it has surpassed 250 million transactions, signifying robust engagement and usage within the community. These metrics reaffirm the network’s potential in revolutionizing Ethereum’s scaling solutions, attracting both developers and users to its growing ecosystem.
Conclusion
The launch of the Linea Association marks a pivotal moment in the Ethereum landscape, with a mission centered on decentralization and community governance. As the network prepares to introduce its governance token, it aims to demonstrate that it can uphold decentralization principles despite previous challenges. Stakeholders will be watching closely as Linea embarks on its journey towards a more inclusive and transparent governance model.
