Matter Labs has announced ZK Credo, which aims to take decentralization to the next level.
Matter Labs has released a document called ZK Credo to promote decentralization. This document outlines the basic principles for zkSync and the technology in general. The published manifesto includes the commitment to the distribution of the network and highlights the progress for the zkSync Era.
A New Step To Decentralization From Matter Labs
Matter Labs has published a manifesto promoting ZK Credo. He reaffirmed the importance of a decentralized network, while stating eight network-related principles in the published manifesto. This policy document is shared on the GitHub code platform and the Ethereum Magicians forum, making an open call for contributions and signatures. The document states that “the community must deeply embrace the elusive concept of decentralization to provide lasting protection.”
The published guidelines on the network expressed concerns about the concentration of governance power in the hands of a limited group of people. It was also included in the document that the community should have the ability to migrate to a new network when needed. This came about at a time when the zkSync network was still somewhat decentralized.
The document included the following statements about this situation:
“To realize these principles takes time and perseverance. A stable and pragmatic approach is required for decentralization.”
The manifesto also outlines eight important principles, such as hyper-scalability. These principles include fundamental principles of decentralization such as resistance to censorship, distrust and privacy.
Additionally, the manifesto claims that three principles are not met by Ethereum: privacy, accessibility, and hyper-scalability. The manifesto claims that the zero-knowledge technology used by zkSync can help achieve all these goals. Zero-knowledge proofs can increase privacy and efficiency in a Blockchain network.
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