Solana co-founder Anatoly Yakovenko criticized Ethereum’s Layer-2 community ZKsync for nonetheless behaving like a multi-sig system, regardless of its claims of community-driven governance.
In a put up on X (previously Twitter), Yakovenko argued that the identical “sincere majority” assumption applies to ZKsync, since any authorized or technical management over the system might simply fall underneath the jurisdiction of a court docket and undermine its decentralization.
In accordance with him:
“With sufficient token holders to kind a quorum, and sufficient ‘Skilled Safety Councils’, it could possibly be inside attain of a random U.S. chapter decide to order everybody to take all the bridge belongings underneath the management of a chapter trustee.”
His feedback have been in response to Alex Grkowski, co-founder and CEO of Matter Labs, the group behind ZKsync, who claimed the community's new decentralized governance system just isn’t a multi-sig setup and marks a “important step in direction of Stage 2.”
Stage 2 refers back to the transition from partial decentralization to full decentralization, the place full belief is positioned within the blockchain's code and algorithms, guaranteeing that the system is open, safe, and troublesome to govern.
It’s price noting that not one of the Ethereum Layer 2 networks have absolutely reached Stage 2 of decentralization improvement.
Decentralized Governance
On September 12, Grkowski introduced that ZKsync's governance system was stay.
The system will introduce a three-tiered organizational construction, together with the ZK Token Meeting, a gaggle of token holders who delegate their voting energy to representatives. These representatives will be capable of submit and vote on protocol, token and governance improve proposals.
In accordance with the group:
“That is maybe an important facet of the system: token holders and their representatives can provoke common upgrades of the ZKsync protocol immediately on-chain, moderately than counting on a single multisig.”
In the meantime, representatives additionally obtain authorized safety via the ZKsync Affiliation, an ownerless non-profit group that addresses private legal responsibility points.
The second a part of the governance construction is the ZKsync Safety Council, which is made up of engineers, auditors, and safety consultants. The Council has the ability to evaluate and actively approve protocol upgrades, freeze the protocol, and submit required time-bound upgrades.
Nevertheless, their energy is restricted as they can not unilaterally submit or approve upgrades.
Lastly, the ZKsync Guardian ensures that governance proposals are aligned with the ideas of the ZK Credo. The Guardian has veto energy and acts as a verify on different governance our bodies.
Three governance entities (Token Meeting, Safety Council, and Guardian) work collectively to think about and act on proposals similar to enhancements to ZKsync, modifications to the token program, and governance advisories. The Token Meeting can submit proposals, the Guardian can reject them if vital, and the Safety Council should approve protocol upgrades.
Basically, this construction prevents any particular person or group from unilaterally controlling proposals and upgrades.
