On Thursday, a proposal to finance zkDAO through the BitDAO tax protocol was adopted by almost 200 million votes. The proposal was written by Matter Labs – the organization behind the Ethereum scaling protocol zkSync – and Mirana Ventures.

Using zk-Rollups, zkSync and its family of technologies will create a tier 2 infrastructure capable of returning roll samples to the Ethereum network without sending all the data. The result, if realized, will mean a significantly faster network. In recent months, zero-knowledge solutions have generated a great deal of interest due to Ethereum’s frequent high levels of congestion, as well as enormous gas charges. For example, Polygon gives $ 1 billion to ignorant technology companies and protocols. In addition to scaling, zero-knowledge evidence can also be used to mask transactions and increase privacy, for example with the Panther protocol.

In terms of BitDAO, it is currently one of the largest decentralized government bonds with a balance sheet of over $ 2.5 billion. In November 2021, the organization committed $ 500 million to a blockchain decentralized gaming proposal. Jonathan Allen, president of Mirana Ventures and BitDAO contributor, commented on the development:

“This proposal will not only benefit Ethereum’s collective scaling efforts, but will also benefit the BitDAO ecosystem, which continues to serve as a leading force in various industries, as it creates entirely new specialized DAOs that must also scaled efficiently. along the chain. “

Source: CoinTelegraph