🚀 ZKsync Launches On-Chain Governance System
#ZKsync #OnChainGovernance #ProtocolUpgrades #TokenHolderAssembly #SecurityCouncil #ValueAlignedCustodians #GovernanceProposals #ZIPs #TPPs #GAPs
According to BlockBeats, on September 12, ZKsync officially launched its on-chain governance system. The governance framework is designed around the principles of separation of powers and checks and balances. As per the design, no individual or entity has the authority to alter the ZKsync protocol. All changes to the protocol must be approved by three independent bodies, each exercising independent judgment and control over their decisions: the token holder community, the security council, and value-aligned custodians who ensure the implementation of proposals.
The token holder assembly allows token holders and their representatives to directly submit and vote on protocol upgrades on-chain. The security council, composed of technical experts, is responsible for reviewing and approving protocol upgrades and has the authority to freeze the protocol in emergencies. Custodians ensure that governance proposals align with the values of the ZKsync ethos.
The governance system supports three types of proposals: ZKsync Improvement Proposals (ZIPs), Token Plan Proposals (TPPs), and Governance Advisory Proposals (GAPs).#ZKsync #OnChainGovernance #ProtocolUpgrades #TokenHolderAssembly #SecurityCouncil #ValueAlignedCustodians #GovernanceProposals #ZIPs #TPPs #GAPs
🚀 Ethereum Co-Founder Joseph Lubin to Lead Torch Ceremony at Decade Celebration
#Ethereum #JosephLubin #TorchCeremony #DecadeCelebration #Blockchain #Crypto #HighReliability #ProtocolUpgrades #ETH
According to PANews, Ethereum co-founder Joseph Lubin has been invited to serve as the torchbearer for the upcoming celebration marking the tenth anniversary of Ethereum's launch. Lubin highlighted the protocol's consistent and stable operation over nearly a decade, noting that despite undergoing several major upgrades, Ethereum has never lost a block. This achievement underscores the protocol's high reliability and robust vitality.#Ethereum #JosephLubin #TorchCeremony #DecadeCelebration #Blockchain #Crypto #HighReliability #ProtocolUpgrades #ETH
🚀 CryptoQuant Analyst: Ethereum’s Short-Term Pullback Possible, But Long-Term Upside Still Intact
#Ethereum #ETH #CryptoQuant #cryptocurrency #altseason #ETFinflows #bullish #protocolupgrades #Fusaka #Glamsterdam #shorttermcorrection #longtermupside
Ethereum (ETH) may face short-term correction pressure following its recent rally, according to CryptoQuant analyst Crypto Dan. In a note published Monday, he warned that ETH has surged rapidly in recent days, increasing the likelihood of a temporary price pullback.“Ethereum has risen sharply recently, so the risk of a short-term correction still exists,” Dan noted. However, he also emphasized that from a broader time-frame, the current upside remains relatively modest. “If you look at it from a slightly larger time frame, the current increase is still too small.”The comments come as ETH trades above $3,750, its highest level since January, with inflows into Ethereum ETFs hitting record highs and the broader altcoin market entering what many are calling an “altseason.” Ethereum’s technical strength has fueled optimism that it could soon reclaim the $4,000 level, but analysts warn that profit-taking and volatility could disrupt the trend in the short term.Despite the caution, long-term fundamentals—ranging from ETF inflows to upcoming protocol upgrades like Fusaka and Glamsterdam—continue to support the bullish thesis for Ethereum.#Ethereum #ETH #CryptoQuant #cryptocurrency #altseason #ETFinflows #bullish #protocolupgrades #Fusaka #Glamsterdam #shorttermcorrection #longtermupside
🚀 Quantum Computing's Impact on Cryptocurrency Overstated, Says a16z
#QuantumComputing #Cryptocurrency #a16z #Blockchain #zkSNARKs #QuantumResistance #Bitcoin #Ethereum #CyberSecurity #ProtocolUpgrades #Governance #QuantumRisks #SecurityFlaws #DigitalSignature #ZeroKnowledge #Development #FuzzTesting #FormalVerification #CodeDefects #SideChannelAttacks #BTC #ETH
a16z Crypto has released an analysis suggesting that concerns about quantum computing threatening cryptocurrencies are often exaggerated. According to PANews, the likelihood of a quantum computer capable of causing real-world disruption emerging before 2030 is very low. The article highlights that mainstream digital signature schemes and zero-knowledge systems like zkSNARKs are not easily susceptible to quantum attacks that follow a 'collect now, decrypt later' model. Prematurely transitioning blockchain systems to quantum-resistant solutions could introduce performance issues, engineering immaturity, and potential security flaws.
a16z further emphasizes that compared to the yet-to-materialize quantum risks, major public blockchains like Bitcoin and Ethereum currently face more immediate challenges. These include the complexity of protocol upgrades, governance issues, and vulnerabilities in implementation layer code. The firm advises developers to plan quantum-resistant paths based on a reasonable assessment of timeframes rather than rushing into migrations. It also notes that in the foreseeable future, traditional security issues such as code defects, side-channel attacks, and fault injections should take precedence over quantum computing concerns. Resources should be focused on enhancing audits, fuzz testing, and formal verification.#QuantumComputing #Cryptocurrency #a16z #Blockchain #zkSNARKs #QuantumResistance #Bitcoin #Ethereum #CyberSecurity #ProtocolUpgrades #Governance #QuantumRisks #SecurityFlaws #DigitalSignature #ZeroKnowledge #Development #FuzzTesting #FormalVerification #CodeDefects #SideChannelAttacks #BTC #ETH
🚀 Bitcoin Protocol Upgrades Enhance Scalability and Security
#Bitcoin #ProtocolUpgrades #SegWit #Taproot #Scalability #Security #SchnorrSignatures #MerkleTrees #Blockchain #Crypto #BTC
Segregated Witness (SegWit) and Taproot represent significant advancements in Bitcoin's protocol, addressing key limitations in transaction structure and scripting. According to NS3.AI, SegWit resolved transaction malleability issues, paving the way for scalable second-layer solutions. Meanwhile, Taproot enhanced script efficiency and privacy through the use of Schnorr signatures and Merkle trees. These upgrades collectively establish a crucial foundation for Bitcoin's scalability, security, and future enhancements.#Bitcoin #ProtocolUpgrades #SegWit #Taproot #Scalability #Security #SchnorrSignatures #MerkleTrees #Blockchain #Crypto #BTC
🚀 Bitcoin Protocol Upgrades Should Avoid Forced Legislation, Says F2Pool Co-Founder
#Bitcoin #ProtocolUpgrades #F2Pool #WangChun #BIP110 #BIP54 #Timewarp #Altcoins #Miners #Libsecp256k1 #DoubleSHA256 #BlockchainSecurity #DuplicateTransactions #BTC
F2Pool co-founder Wang Chun expressed on the X platform that Bitcoin protocol upgrades should not adopt methods similar to U.S. politicians who use 'bundled bills' to force through necessary but unpopular clauses. According to Odaily, this is a key reason for his opposition to BIP-110 and BIP-54.
In response to whether any issues were encountered using BIP-54 for fixes, Wang Chun added that the 'Timewarp' issue has been longstanding and offers no significant advantage to miners, as predicting the next block miner is impossible. Its primary use is to disrupt certain altcoins, and since it offers little benefit to Bitcoin miners, there is no urgent need for modification. Additionally, block verification efficiency has significantly improved due to libsecp256k1 and hardware upgrades, negating the need for protocol layer adjustments. The 'forged confirmed transactions' issue fundamentally relies on breaking double SHA256 collisions, which would imply a breach of Bitcoin's core security if successful. Wang Chun further stated that these issues are insufficient to drive protocol modifications, with only the 'duplicate transactions' problem having some repair value, possibly being one of the few changes worth implementing.#Bitcoin #ProtocolUpgrades #F2Pool #WangChun #BIP110 #BIP54 #Timewarp #Altcoins #Miners #Libsecp256k1 #DoubleSHA256 #BlockchainSecurity #DuplicateTransactions #BTC