Ethereum

EigenLayer

DeFi

EigenDA, EigenLayer’s data availability protocol, has cut prices for its service by 10x and introduced a “free tier,” according to an Aug. 19 EigenLayer blog post.&nbsp;
EigenDA is a “data availability layer” operating on EigenLayer’s Ether (<a href="https://cointelegraph.com/ethereum-price">ETH</a>) restaking platform designed to reduce the costs of storing and accessing onchain data for Ethereum’s layer-2 scaling chains. The price cut comes as EigenDA is pushing to <a href="https://www.blog.eigenlayer.xyz/onboarding-rollups-to-eigenda/" target="_blank" rel="noopener nofollow">onboard</a> more layer 2s to its platform, which launched in April. 
EigenDA’s mission is to make “reliable, scalable, and secure data availability (‘DA’) abundant,” according to the <a href="https://www.blog.eigenlayer.xyz/eigenda-updated-pricing/" target="_blank" rel="noopener nofollow">blog</a> post. “In pursuit of this goal, and enabled by the scalability of its design, EigenDA strives to be the most price-performant DA solution.”
<figure data-ct-non-breakable="true">
 <img src="https://s3.cointelegraph.com/uploads/2024-08/23c95307-99ea-42d7-a6ca-6caed948a879.png" alt="EigenLayer’s EigenDA touts 10x cut in data prices " title="">
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 EigenDA&nbsp;is secured by some 3.6 million restaked ETH. Source: EigenLayer
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Related: <a href="https://cointelegraph.com/news/restaking-inevitable-risks-still-uncertain-ether-fi-ceo">Restaking is ‘inevitable,’ but the risks are still uncertain — Ether.fi CEO</a>
Restaking involves taking Ether that has already been staked — posted as collateral with a validator in exchange for rewards — on the Ethereum network and using it to secure other protocols simultaneously. EigenLayer currently commands upward of $12 billion in total value locked (TVL), <a href="https://defillama.com/" target="_blank" rel="noopener nofollow">according</a> to DefiLlama.
EigenDA was the first “actively validated service” (AVS) launched on EigenLayer and also the largest. It is secured by some 3.6 million restaked ETH contributed by more than 133,000 stakers, <a href="https://app.eigenlayer.xyz/avs" target="_blank" rel="noopener nofollow">according</a> to EigenLayer’s website. 
EigenLayer now hosts upward of a dozen such services, including eOracle and Lagrange State Committees, both of which are secured by more than 2 million ETH — worth upward of $5 billion at current spot prices.
EigenDA says it aims to boost data availability on Ethereum by 1,000x and, thereby, enable onchain use cases, including completely onchain order books, real-time gaming, social networks, decentralized artificial intelligence and more, according to an April 9 <a href="https://www.blog.eigenlayer.xyz/mainnet-launch-eigenlayer-eigenda/" target="_blank" rel="noopener nofollow">blog</a>&nbsp;post. 
The data availability protocol is “integral to the long-term EigenLayer vision: in order to have the ability to penalize bad behavior, the protocol must have access to the data associated with related transactions,” the post said.
Magazine: <a href="https://cointelegraph.com/magazine/ethereum-defi-cryptocurrency-tokens-narrative-bull-market-michael-van-de-poppe-cointelegraph-magazine/">DeFi and Ethereum are the ‘new narrative’: Michaël van de Poppe, X Hall of Flame</a>

EigenLayer’s EigenDA touts 10x cut in data prices

Cointelegraph

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