ZkSync said An X post on Friday said it would soon release an upgrade to accelerate the decentralization of the protocol. Some traders see this announcement as a sign that the network will conduct an airdrop this summer.
According to the X post, the Layer 2 protocol will receive a v24 upgrade sometime this summer. After launch, zkSync will be able to trigger airdrops, an event that traders have been anticipating since last March.
“The remaining missing pieces are expected to be completed by the end of June,” zkSync said in a post to X on Friday. “The upcoming v24 release is the final planned protocol upgrade needed before handing over network governance to the community.”
Early last year, investors linked more than $8 million worth of cryptocurrency to the layer 2 solution, sparking speculation about a potential airdrop. Airdrop, or virtual token giveaway, is popular marketing strategies Cryptocurrency networks are used to generate public interest in projects.
Founded in 2019, ZkSync is a special type of layer 2 solution known as zero-knowledge (Zk) rollup. It aims to reduce most transaction costs by storing data off-chain.
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Elizabeth Napolitano is a data reporter covering business and technology news with a focus on cryptocurrency. Before she joined The Block, Elizabeth reported on BigTech, AI, crypto, and video games for CBS Moneywatch. As a CoinDesk reporter, she covered DeFi, NFTs, and US courts. She received a master’s degree in journalism from CUNY. X: Follow her at @LizKNapolitano.