Solana Associates disputes ZKsync's claim that the governance system is not multi-signatory, arguing that the latter is at risk of centralization

Yesterday, September 13, Alex Gluchowski, CEO of Matter Labs, the developer of ZKsync, announced the launch of the ZKsync governance system, which Alex says is not multi-signatory, and that “all planned upgrades are initiated directly on-chain by the community of more than 370,000 ZK token holders, rather than being initiated by a foundation or a small group of trusted actors.” Solana co-founder Toly challenged under the article that despite ZKsync's claims of not being a multi-signature system, it is in fact still based on the Honest Majority Assumption, which implies that it is similar in nature to a multi-signature system. Toly further stated that unlike Solana, ZKsync's governance system carries the risk of potential centralization. In Solana, a single full node of Circle (the issuer of USDC) is able to reject invalid state transitions even if there are enough verifiers to reach a consensus, thus protecting the system from malicious behavior. ZKsync's “Professional Security Committee” may face legal risks because if enough committee members are ordered by a U.S. Bankruptcy Judge, they may be forced to place all cross-chain assets under the control of a bankruptcy trust.