As a seasoned crypto investor with over two decades of experience under my belt, I find the establishment of the Linea Association by Consensys to be a promising development in the world of blockchain technology. Having witnessed numerous projects come and go, it’s refreshing to see one that prioritizes decentralization from both technical and governance perspectives.
Linea, an Ethereum Virtual Machine (EVM) rollup based on layer-2, zero-knowledge technology created by Consensys, is moving towards more decentralization by creating the Linea Association.
The Linea Association, a Swiss-based non-governmental organization focused on promoting and managing the development of Linea, made an official debut at the Devcon conference held in Bangkok, Thailand, on November 13th.
According to Declan Fox, Product Lead of Linea, the freshly established organization will focus on achieving three primary goals: fostering the use of Linear technology, expanding the market for Linea, and continuing the progression of Linea’s decentralization blueprint as reported by CryptoMoon.
According to Joseph Lubin, the founder of ConsenSys and a contributor to Ethereum, the Linea Association represents a significant stride towards achieving genuine decentralization for the network, as it minimizes the influence of any dominating authority or controlling entity.
Linea Association targets community-led governance with new token
The Linea Association is responsible for managing and directing the development and administration of Linea’s open-source technology and ecosystem. Their aim is to expand the Linea mainnet, a zkEVM layer 1 solution initially launched by Consensys, in order to enhance Ethereum’s scalability while maintaining its security and decentralization.
A significant aspect of the Linea Association’s activities is expected to involve tokenholder governance, marking the planned introduction of the Linea token during Q1 of 2025.
As per the scheme, the Swiss Association is intended to grant token holders control over specific operations within the Association. This Association will serve as a home for essential Linea intellectual property and funds to uphold its purpose.
As reported by the product head at Linea, they are yet to finalize the specifics of their upcoming community-based management structure that will be token-oriented.
Fox stated that we aim to approach this in an open and clear manner. Notably, Linea has been dedicating its attention towards decentralization, not only in terms of technology but also governance structures.
Decentralization is at the core of Linea’s vision
In 2023, Consensys unveiled Linea, a project that prioritizes decentralization as its guiding principle, as stated by Nicolas Liochon, the founder of Linea and a board member at the Linea Association.
According to Liochon’s statement in a press release, Linea should be collectively owned and managed transparently, similar to how Ethereum functions at its base layer.
The Linea Association will encompass a burgeoning network of Ethereum experts, creators, and participants, with the aim to “enable global living on the blockchain,” as he explained.
As per Consensys’ Lubin, the Linea Association appears poised to tackle numerous governance challenges that L2s encounter.
Lubin stated to CryptoMoon that he doesn’t think layers heavily regulated by a single company or a limited number of individuals, excessively monetized by a narrow group, are likely to thrive or function well in alignment with the Ethereum platform.
“That’s exactly what we’re going to do with linear, so it’s being externalized. There is a Linea Association in existence that is already figuring out the way it gets staffed.”
Additional reporting by Andrew Fenton.
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2024-11-13 11:33