1 week ago
Solana co-founder Anatoly Yakovenko has criticized the Ethereum layer-2 web ZKSync due to the fact that it inactive operates similar a multisig strategy contempt claims of community-led governance.
In a post connected X (formerly Twitter), Yakovenko argued that the aforesaid “honest majority” assumptions use to ZKSync due to the fact that its system’s ineligible oregon method power could easy autumn nether the jurisdiction of a court, compromising its decentralization.
According to him:
“Enough of the token holders to make a quorum and capable of the ‘professional information council’ could beryllium wrong scope of a rando US bankruptcy justice that could bid each of them instrumentality each the bridged assets nether power of a bankruptcy trust.”
His comments were successful effect to Alex Gluchowski, co-founder and CEO of Matter Labs, the squad down ZKSync. Gluchowski had claimed the network’s caller decentralized governance strategy was not a multisig setup and making “a captious measurement towards Stage 2.”
Stage 2 refers to a modulation from partial to afloat decentralization. In this stage, spot is placed wholly successful the blockchain’s codification and algorithms, ensuring the strategy is open, secure, and resistant to manipulation.
Notably, nary Ethereum layer-2 web is wholly successful Stage 2 of its decentralization development.
Decentralized governance
On Sept. 12, Gluchowski announced that ZKSync’s governance strategy had gone live.
The strategy introduces a three-body structure, which includes the ZK token assembly—a radical of token holders who delegate their voting powerfulness to delegates. These delegates tin taxable and ballot connected protocol, token, and governance upgrade proposals.
According to the team:
“This is possibly the astir important facet of the system: token holders and their Delegates tin initiate mean upgrades to the ZKsync protocol straight onchain, alternatively of relying connected a azygous multisig.”
Meanwhile, Delegates volition besides person ineligible extortion done the ZKSync Association, an ownerless non-profit that addresses idiosyncratic liability concerns.
The 2nd portion of the governance operation is the ZKSync Security Council, which consists of engineers, auditors, and information professionals. The Council has the powerfulness to reappraisal and actively o.k. protocol upgrades, frost the protocol, and taxable indispensable time-sensitive upgrades.
However, their powerfulness is constrained arsenic they cannot taxable and o.k. upgrades unilaterally.
Lastly, the ZKSync Guardians guarantee governance proposals align with the principles of the ZK Credo. They clasp veto powerfulness and service arsenic a cheque connected the different governance bodies.
The 3 governance entities—the Token Assembly, Security Council, and Guardians—collaborate to reappraisal and execute proposals, specified arsenic ZKSync Improvements, Token Programs, and Governance Advisory changes. The Token Assembly tin taxable proposals, which the Guardians tin veto if needed, and the Security Council indispensable o.k. protocol upgrades.
Essentially, this operation prevents individuals oregon groups from having unilateral power implicit proposals and upgrades.
The station Ethereum layer-2 ZKSync faces scrutiny from Solana co-founder appeared archetypal connected CryptoSlate.
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