Optimism Sparks Excitement with Security Council Announcement

This security council is set to play a pivotal role in ensuring the integrity and decentralization of Optimism’s superchain network. Optimism is taking a proactive step to improve its blockchain operations by introducing this security council.

The full Security Council will be comprised of at least 8 members with a 75% signing threshold, and will be implemented via a series of governance votes.

— Optimism (✨🔴_🔴✨) (@optimismFND) September 28, 2023

Introducing the Security Council

As part of its commitment to transparency and community involvement, Optimism will introduce a governance proposal to incorporate the SC as a multi-party signatory. This proposal will be essential in overseeing and controlling the main network protocol upgrade of Optimistic Ethereum (OP).

The security council will consist of at least eight members, and a key feature will be the 75% signature threshold required for any actions it takes. This ensures a high level of consensus among its members. The entire process of implementing the security council will be conducted through a series of governance votes, emphasizing community participation and decentralized decision-making.

Governance Proposal for Network Control

The SC will function as a multi-signatory co-signatory, significantly impacting the direction of essential network upgrades. Subsequent governance proposals will focus on the specifics of multi-signature transfers of authority to the OP.

Optimism’s dedication to improving the transparency, security, and decentralization of its superchain network is evident through the establishment of the SC. With the involvement of multiple stakeholders and a robust governance framework, Optimism’s initiative is poised to usher in a new era of trust and reliability in the blockchain industry. Stay tuned for more updates on Optimism’s progress with the security council.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Source