September 16, 2024
Treasure, Decentralized Gaming Ecosystem, Proposes Transition to L2 on ZKSync Instead of Arbitrum Orbit
Treasure, which is working on a "decentralized gaming console," has introduced a governance proposal for its community to consider moving the Treasure ecosystem to ZKsync, rather than proceeding with the initial plan to build on Arbitrum. The development team stated: "Proposal TIP-44 outlines our intention to launch the Treasure chain as an L2 utilizing ZKsync’s ZK Stack technology, instead of Arbitrum Orbit as originally planned. If the proposal is approved, we aim to launch our mainnet on ZKsync by mid-November. Voting is scheduled to commence on September 17."
Treasure's decision to transition to the ZKsync platform is not only a strategic move for itself but could also have far-reaching effects on the cryptocurrency market, particularly for Bitcoin (BTC) and Ethereum (ETH).
This shift may highlight the potential of Layer 2 solutions, attracting more projects to ETH and potentially increasing its value. As more projects migrate to ZKsync, congestion on the Ethereum network will decrease, stabilizing transaction fees and improving user experience.
This decision could also foster a positive sentiment within the community, leading to increased investment in BTC and ETH as investors feel optimistic about the technology.
However, the transition to ZKsync may also exert pressure on Ethereum to enhance its technology and reduce fees; otherwise, ETH's value could be adversely affected. Finally, if ZKsync emerges as a more viable option, it could result in a capital shift from ETH to projects on this platform, impacting ETH's value.
