Polygon, the renowned Ethereum scaling solution, recently proposed a new decentralized governance model aimed at enhancing its network’s security, upgradeability, and robustness.

This proposal, revolving around the establishment of an “Ecosystem Council,” will redefine how system smart contracts within the Polygon environment are managed and upgraded. This proposal indicates the continuous efforts by Polygon to strike a perfect balance between community-driven governance and efficient decision-making in a decentralized network.

A New System for Decentralized Governance

System smart contracts represent a fundamental element of the blockchain infrastructure. They can directly or indirectly influence user funds and the infrastructure’s functioning. A crucial aspect of these contracts is their upgradeability, which allows seamless migration to improved versions under specific circumstances. The importance of this feature is evident in various Layer 2 (L2) solutions, such as Optimism, Arbitrum, and zkS

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Author: Vince Dioquino

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