A proposal aimed at funding decentralized autonomous organization zkDAO reportedly received approval from treasury protocol BitDAO, via a voting round with around 200 million votes. 

Specifically, the proposal was reportedly put together collaboratively by Matter Labs – the entity that built Ethereum scaling protocol zkSync – together with Mirana Ventures.

Via the utilization of zk-Rollups, zkSync and its family of technologies are reportedly going to develop layer-2 infrastructure, possessing the power to return concise proofs to the Ethereum network, without the need of transferring the entire piece of information. Should the implementation work be completed, a network possessing a superior level of speed will reportedly be created. 

Zero-knowledge-powered solutions have reportedly managed to reel in an increased level of interest throughout the past months, mainly because of recurrently high levels of Ether-based congestion, together with exuberant gas fees.

For instance, Polygon is reportedly going to dedicate $1 billion towards zero-knowledge tech companies and protocols.

Apart from scaling, zero-knowledge proofs also have applications in concealing transaction details and improving individual privacy, nominally through the Panther protocol.

As for BitDAO, it reportedly stands among the top-tier decentralized treasuries at the moment, possessing a balance of more than $2.5 billion. 

In November last year, the entity reportedly devoted $500 million to a decentralized blockchain gaming proposal. 

“This proposal will not only benefit the collective Ethereum scaling effort but will provide tremendous value to the BitDAO ecosystem, which continues to act as a leading force across industries as it creates entirely new purpose-built DAOs that also need to scale effectively on-chain.” Jonathan Allen, head of Mirana Ventures and a BitDAO contributor, reportedly remarked regarding the update.