Consensys Launches Linea Association to Support Ethereum Layer 1 Ops

Ethereum Linea

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Tanzeel Akhtar

Journalist

Tanzeel Akhtar

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Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

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November 13, 2024 04:39 EST

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The Linea Association, a newly formed Swiss non-profit organization, has been launched by Consensys to support the growth, development, and governance of Linea’s technology.

The association is a Swiss non-profit organization, an independent entity and will suport Linea the community network. Linea, a zkEVM Layer-2 protocol bootstrapped by Consensys, is designed to scale Ethereum while preserving its core principles of security and decentralization.

“Decentralization is at the core of Linea’s vision. Linea must be owned and governed openly by all as a public good, just as Layer 1 Ethereum is,” said Nicolas Liochon, founder of Linea and a board member of the Linea Association.

“The Linea Association will represent a growing ecosystem of Ethereum technologists, builders, and users with the mission to empower the world to live onchain,” adds Liochon.

Token Launch Expected 2025

Consensys said the new association has committed to governance decentralization, with a token generation event planned for the first quarter of 2025. The group said it is aiming to launch the LINEA token next year.

The token will allow holders to take part in decision-making, and distributing power over protocol governance. The association will hold core intellectual property and manage a treasury.

The association said it envisions a growing ecosystem of Ethereum technologists, builders, and users dedicated to furthering a decentralized, onchain future.