ZkSync Ecological Decentralization: The Closure of Phezzan Protocol

On April 24th, it was reported that the zkSync ecological decentralization and sustainable contract agreement, Phezzan Protocol, had tweeted that after multiple discussions, the team had decided to close Phezzan. The Phezzan Twitter account will never be updated again, and Phezzan Discord will be closed within 24 hours. In addition, the Phezzan code will be open source on GitHub.

The zkSync ecological sustainability contract agreement, Phezzan Protocol, has decided to close and will open source code on GitHub

On April 24th, the blockchain community was hit with the news of the Phezzan Protocol’s closure. The Phezzan team tweeted that they had decided to shut down the project after multiple discussions. The Phezzan Twitter account will not be updated anymore, and its Discord will be closed within 24 hours. However, the Phezzan code will still be accessible on GitHub as an open-source project. In this article, we will explore the background and implications of this decision for the zkSync ecological decentralization.

What is Phezzan Protocol?

Phezzan Protocol is a decentralized liquidity network based on the ZkSync rollup technology. It aims to provide fast and low-cost trading services to its users while maintaining high security standards. The project was started in January 2021 and had gained significant traction in the blockchain community for its focus on ecological decentralization.

Phezzan’s Vision

Phezzan’s team envisioned creating an ecosystem of decentralized projects that would collaborate to build a sustainable blockchain infrastructure. They believed that this could be achieved by making their code open-source, encouraging community participation, and fostering a culture of continuous innovation.

The Decision to Close Phezzan

The decision to close Phezzan is a significant setback for the zkSync ecological decentralization. The zkSync network relies on the participation and collaboration of various projects that are working towards a common goal. Each project contributes to the overall strength and resilience of the network.
The Phezzan team did not provide any specific reasons for their decision to shut down the project. However, they affirmed their commitment to continuing to contribute to the blockchain industry in other ways.

The Implications of Phezzan’s Closure

The closure of Phezzan Protocol is a loss for the zkSync ecosystem. It reduces the overall number of decentralized projects working towards a common goal. This loss of diversity might impact the reliability and security of the zkSync network in the short term.
However, the Phezzan team’s commitment to open-sourcing their code is a positive signal for the blockchain community. It demonstrates their belief in the collaborative and open nature of blockchain technology. Any developer can now build on top of the Phezzan codebase or learn from it, increasing the overall talent pool and innovation capabilities of the community.

Conclusion

The closure of the Phezzan Protocol is a significant loss for the zkSync ecological decentralization. It reduces the number of decentralized projects working towards a common goal. However, the Phezzan team’s commitment to open-sourcing their code is an encouraging sign for the blockchain community. It demonstrates their belief in the open and collaborative nature of blockchain technology. It will allow the community to learn from the Phezzan codebase, increasing the overall talent pool and innovation capabilities.

FAQs

1. What is zkSync ecological decentralization?

zkSync ecological decentralization is a concept that refers to the collaboration between decentralized projects using zkSync rollup technology. These projects work towards building a sustainable blockchain infrastructure by contributing to the zkSync network.

2. What impact will the closure of Phezzan have on the zkSync network?

The closure of Phezzan will reduce the overall number of decentralized projects working on the zkSync network, which might impact its reliability and security in the short term.

3. How can the open-sourcing of the Phezzan codebase help the blockchain community?

The open-sourcing of the Phezzan codebase will allow any developer to build on top of it or learn from it, increasing the overall talent pool and innovation capabilities of the blockchain community.