Solana Co-Founder Says ZKsync's Newly Launched Governance System Is Essentially Similar to Multi-Signature Systems
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September 13, 2024
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Foresight News reports that Solana co-founder Toly, commenting on ZKsync's new governance system, stated: "While ZKsync claims not to be a multi-sig system, it is still based on the honest majority assumption, meaning it's inherently similar to a multi-sig system."
Furthermore, responding to Matter Labs CEO Alex Gluchowski's statement "Is Solana a multi-sig?", Solana co-founder Toly clarified: "Solana is not a multi-sig because all validators cannot convince Circle to disconnect USDC on Solana. A single, fully-fledged Circle node will reject invalid state transitions. This is because a sufficient number of token holders need to form a quorum, and a sufficient number of 'Professional Security Committee' members need to agree to the operation."
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