Within such a judicial system, according to Alex Gluchowski, an “Ethereum Supreme Court” should be created, which will be the final authority in resolving various disputes and problems in the DeFi community.
“The main function of such a system will be to protect the protocols from outside political interference. This will serve as an excellent deterrent mechanism and enhance the role of Ethereum as a powerful network state. The risks of implementing smart contracts remain the biggest challenge in the DeFi space, including on second-tier solutions,” said the co-founder of Matter Labs.
In the judiciary, he said, each protocol would have its own administration with normal and emergency update mechanisms, as well as a special contract to create “appeals.” The period for filing such an appeal will be provided for during an emergency protocol update – the user will be able to file a complaint with a “court” of a higher instance. However, he will have to pay a certain deposit. At the top of the judicial system will be the “Supreme Court of Ethereum”. But filing a complaint with a higher authority would be expensive, so only “truly extraordinary cases” would rise to the top tier.
Gluchowski noted that such a judicial system would require strong support from the community to operate. According to him, Matter Labs and the zkSync team will be happy to fund a study on the effectiveness and feasibility of creating such a judicial system within Ethereum.
Earlier, the Polygon project management accused Matter Labs of copying the source code. However, Matter Labs denied all allegations.
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