Ethereum scaling solution Optimism upgrades governance structure

cointelegraph.com:

The Optimism Foundation has unveiled a new governance structure and token as part of its ongoing efforts to bring scalability and cost efficiency to Ethereum, the world’s largest smart contract platform. 

The “Optimism Collective” was introduced Tuesday afternoon in a lengthy post that outlined its mission and governance mandate. Described as a “large-scale experiment in digital democratic governance,” the Optimism Collective essentially comprises a band of communities and stakeholders committed to improving Ethereum’s technical capabilities.

According to the details, the Optimism Collective will be governed by two components: the Citizens’ House and the Token House. Citizens’ House will “facilitate and govern a process to distribute retroactive public goods funding” via revenues collected by the network. Token House, which will be established through forthcoming airdrops, is tasked with voting on protocol upgrades and project incentives.

Token House will be powered by OP, Optimism’s new governance token responsible for overseeing protocol and network parameters, as well as creating incentives for users to enter the ecosystem.

Ethereum is ready for its next chapter.We are ready to scale not only Ethereum (the network), but also the values that thrust it onto the global stage in the first place.The Optimism Collective is here to reconstruct the incentives of the internet

The Optimism Foundation said in its post that the blockchain community’s “calls for scalability are deafening,” referring to the growing demand for fast and efficient smart contract functionalities. Although this demand is being answered by several layer-1 competitors, they all succumb to centralization flaws while abandoning “Ethereum’s security and