Polygon(MATIC), a leading Ethereum scaling platform, has proposed a new governance body called the Protocol Council to oversee upgrades to system smart contracts for existing and future Polygon protocols.
The proposed Protocol Council would consist of 13 members, including Polygon(MATIC) co-founder Jordi Baylina, Viktor Bunin, protocol specialist at Coinbase, the Ethereum Foundation researcher Justin Drake, and Cometh CEO Jerome de Tychey.
The Protocol Council would be responsible for executing upgrades to system smart contracts on Polygon, which are needed to ensure the security and functionality of the platform. The Council would also be responsible for overseeing the development of new Polygon protocols.
The establishment of a Protocol Council is a significant step forward for Polygon, as it will help to decentralize governance and decision-making on the platform. The Council will also help to ensure that Polygon remains a leader in the Ethereum scaling ecosystem.
Benefits of a Protocol Council
There are a number of benefits to establishing a Protocol Council for Polygon(MATIC). First, it will help to decentralize governance and decision-making on the platform. This will help to ensure that Polygon is not controlled by any single entity.
Second, the Protocol Council will help to ensure that Polygon remains a leader in the Ethereum scaling ecosystem. The Council will be responsible for overseeing the development of new Polygon protocols and for ensuring that the platform is compatible with the latest Ethereum developments.
Third, the Protocol Council will help to improve the security and functionality of Polygon. The Council will be responsible for executing upgrades to system smart contracts, which are needed to fix bugs and improve the performance of the platform.
Conclusion
The establishment of a Protocol Council is a positive development for Polygon. It will help to decentralize governance and decision-making on the platform, ensure that Polygon remains a leader in the Ethereum scaling ecosystem, and improve the security and functionality of the platform.
The proposed members of the inaugural Protocol Council are highly experienced and respected individuals in the cryptocurrency industry. They have a deep understanding of Polygon and the Ethereum ecosystem, and they are committed to making Polygon a success.
I am confident that the Protocol Council will play a vital role in the future of Polygon. I look forward to seeing what the Council accomplishes in the months and years to come.
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