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Consensys has launched sovs.xyz, a platform built on its Linea zkEVM rollup, enabling users to declare personal sovereignty and foster stronger.
Key Notes
This initiative aligns with the push of Consensys toward greater decentralization and self-sovereignty in the Web3 era.The new platform draws inspiration from Ethereum co-founder Vitalik Buterin’s ideas of network states and pop-up cities.At Ethereum Devcon in Bangkok, Consensys founder Joseph Lubin criticized the SEC for regulatory overreach.Consensys, the leading Ethereum software solutions provider, recently announced the launch of a new Network State allowing people to declare their “personal” sovereignty. Commenting on this development, Consensys founder Joseph Lubin said:
“We’re on the verge of a paradigm shift that will be heard around the world”.
Lubin stated that ConsenSys is on the drive to the Network State in this emerging decentralized Web3 as well as global AI economy. He noted that for years, the crypto industry has been “operating in fear,” restricted from engaging in activities that “should be standard” for Web3 companies.
“We’ve been operating in a climate of regulatory uncertainty, with gaslighting and carpet bombing from the SEC stifling our progress,” noted Lubin.
While speaking at the Ethereum Devcon event in Bangkok, Lubin added:
“We’ve been living in a gaslit world for quite some time, generously fueled by the SEC.”
“It’s hard for a technology ecosystem to operate under uncertain, overreaching, regulatory uncertainty at worst, and what appeared to be a strategic and concerted attempt to either kill slow or co-opt the progress of our industry,” he said.
Consensys Launches Sovereignty Platform on Linea zkEVM
Blockchain technology firm Consensys has unveiled sovs.xyz, a new project built on Linea, its Layer 2 zero-knowledge Ethereum Virtual Machine (zkEVM) rollup. Earlier this week, Consensys launched the Linea Association as a Swiss non-profit with the goal of pushing greater decentralization in the Layer-2 Linea network.
ConsenSys added that the Network State platform aims to empower users by allowing them to attest to various forms of sovereignty that hold significance in their lives. This initiative is designed to foster stronger, more sustainable, and equitable communities through the innovative use of decentralized technology. Joseph Lubin said:
“This is the beginning of a partnership with the community to build a network we all want to be a part of. We are all in the early stages of discovering what self-sovereignty means for ourselves and our communities. We’ll be living more of our lives onchain, as our finances, identities, communications, art, and entertainment are increasingly mediated by open networks and decentralized protocols.”
The platform seems to draw inspiration from Ethereum co-founder Vitalik Buterin’s concept of pop-up cities and the network states theory, where online communities unite to establish physical communities with aspirations for political autonomy.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
