SSV.Network Introduces Permissionless DVT on Ethereum
Tel-Aviv, Israel –News Direct– SSV
Ethereum Distributed Validator Technology (DVT) staking infrastructure SSV.Network has announced its permissionless launch. The milestone is a major breakthrough in creating a new standard for ETH staking by delivering greater security for Ethereum validators and strengthening the network by decentralizing its validation layer.
The permissionless launch is the product of three years of intensive development in making staking more accessible for all staking participants. The achievement unites the entire Ethereum staking ecosystem, which can benefit from the many uses that DVT allows. SSV Network breaks down entry barriers to Ethereum staking, offering a robust and permissionless infrastructure, enabling seamless building, staking, and zero-collateral node operations through one holistic solution.
The permissionless launch will enable public validators and node operators to join the network and participate in a first-of-its-kind DVT infrastructure. By going permissionless, anyone will be able to stake and contribute to the overall health of the Ethereum network. To celebrate the launch, the SSV Core Team will host an online event for those who want to learn more about the launch and how to join.
To support DVT adoption, the SSV DAO initiated a year-long incentivization program which has been earmarked for 1 million $SSV (Current market price – $25 million) and will reward users for registering validators to the network. This can be done by staking directly on SSV.Network or via staking services that embed the DVT infrastructure. This also means that node operators running on other protocols can double up on rewards by also operating on ssv.network.
DVT helps decentralize ETH validators – and by extension, Ethereum as a whole – by increasing client diversity, location distribution, and extending infrastructure diversity, resulting in greater uptime and rewards. Its implementation through SSV.Network will strengthen the Ethereum ecosystem and allow seamless staking for diverse staking use cases.
SSV.Network commenced gradual rollout in September 2023 with a selection of permissioned node operators. Having ensured network stability and conducting audits, a broader rollout followed, ensuring security and battle testing before becoming fully permissionless with various staking applications built on the infrastructure. From today, SSV’s community-owned open protocol can be used by the entire Ethereum community to stake, build applications, and run an operator node that utilizes its framework.
In just over two months, more than $160M was staked through SSV.Network by 74 node operators. In addition, over 2,200 validators are now using SSV’s DVT-based infrastructure. The permissionless launch of the SSV.Network mainnet will accelerate diverse node operators and TVL while establishing the protocol as the preeminent solution for Ethereum staking.
About SSV.Network
SSV.Network creates easy-to-use and scalable infrastructure for developers. SSV is powered by DVT technology, a pioneering architectural framework designed specifically for Ethereum staking. Thanks to its permissionless design, SSV empowers staking operators and validators to join the network and participate in Ethereum staking.
Contact Details
SSV.Network
Robert Drage
Company Website
View source version on newsdirect.com: https://newsdirect.com/news/ssv-network-launches-permissionless-dvt-powered-ethereum-staking-778265295
This news is republished from another source. You can check the original article here