zkSync Governance System Compared to Multisig, Says Solana Co-Founder
CryptoNewsTerminal Staff13 Sep, 2024
zkSync Governance System Compared to Multisig, Says Solana Co-Founder
Solana Labs co-founder Anatoly Yakovenko recently shared his thoughts on zkSync's governance system, comparing it to a multisig approach. According to Yakovenko, zkSync's system, which involves the participation of over 370,000 ZK token holders, essentially operates on the assumption of a "majority honest" community, similar to a multisig setup. He emphasized that while zkSync may not explicitly refer to this as a multisig approach, the nature of its governance system aligns closely with it. Yakovenko's comments highlight the ongoing discussion surrounding governance models in the blockchain space, where different approaches have their own strengths and limitations. Multisig, which requires the approval of multiple parties, provides a high level of security but can be less efficient. zkSync's approach, on the other hand, leverages a larger community of participants, potentially offering broader representation and resilience, but it also relies on the assumption of a majority honest community.
