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Scroll announced its new SCR governance token, a protocol that is among the Ethereum Layer 2 solutions and uses Zero-Knowledge Ethereum Virtual Machine (zKEVM) technology
Scroll, the team behind the layer-2 blockchain network, recently shared plans to introduce a new token called SCR. This token is the first significant step in their roadmap toward decentralization. In a blog post, the team emphasized that SCR will play a critical role in their governance structure, with the long-term goal of becoming a key utility token as Scroll moves closer to full decentralization
SCR will act as the primary governance mechanism for the Scroll protocol. Consequently, token holders will be able to influence network decision-making. The prover and sequencer are essential components of the blockchain architecture, and the project hopes to decentralize both of them using SCR. Both of these components are essential in verifying and ordering transactions on the network. As Scroll continues on its journey to decentralization, SCR will evolve to have more utility within the ecosystem
SCR is built upon the Cosmos SDK blockchain technology.Dynamic Layer-1 blockchain powered by Cosmos, designed to redefine the gaming and entertainment industries with $SCR token at the centre
The Cosmos SDK is a modular development framework that allows developers to easily build application-specific blockchains, i.e. sidechains
It's designed for easy exchange on Osmosis, enabling users to trade and manage their SCR efficiently. Beyond trading, SCR can be used to play Aviatrix, an engaging game within our ecosystem
âSCR will be used as a primary governance mechanism of the protocol and progress to being a protocol utility token as Scroll becomes more decentralized,â the team wrote. After the governance has made progress in decentralization, the token will also be used to support decentralization of Scrollâs prover and sequencer"
