Solana Co-Founder Critically Examines Ethereum’s ZKsync Layer-2 Solution
Solana co-founder Anatoly Yakovenko has raised concerns about the Ethereum layer-2 network ZKsync, arguing that despite claims of community-led governance, it still functions like a multisig system. Yakovenko highlighted that the system’s legal or technical control could potentially be subject to court jurisdiction, posing a threat to its decentralization.
In response to Yakovenko’s comments, Alex Gluchowski, the co-founder and CEO of Matter Labs, the team behind ZKsync, defended the network’s new decentralized governance system, emphasizing that it was not a multisig setup and marked a significant move towards Stage 2 of decentralization. Stage 2 involves transitioning to complete decentralization where trust is solely placed in the blockchain’s code and algorithms to ensure openness, security, and resistance to manipulation.
It is worth noting that no Ethereum layer-2 network has fully reached Stage 2 in its decentralization development.
On September 12, Gluchowski announced the launch of ZKsync’s governance system, introducing a three-body structure. This structure includes the ZK token assembly, a group of token holders delegating their voting power to delegates who can propose and vote on protocol, token, and governance upgrades. The system allows for direct on-chain initiation of ordinary upgrades to the ZKsync protocol without relying on a single multisig.
Furthermore, the governance structure includes the ZKsync Security Council, comprising engineers, auditors, and security professionals with the authority to review and approve protocol upgrades, freeze the protocol, and submit essential time-sensitive upgrades. The power of the Security Council is limited as they cannot unilaterally submit and approve upgrades.
Additionally, the ZKsync Guardians play a crucial role in ensuring that governance proposals align with the ZK Credo principles. They hold veto power and act as a check on the other governance bodies to prevent any unilateral control over proposals and upgrades.
The collaborative efforts of the Token Assembly, Security Council, and Guardians aim to review and execute proposals such as ZKsync Improvements, Token Programs, and Governance Advisory changes. The structure is designed to prevent any individual or group from having exclusive control over proposals and upgrades.
In conclusion, the decentralized governance system of ZKsync represents a significant step towards achieving a more decentralized and secure network, emphasizing community involvement and transparency in decision-making processes.
