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<h4><b>A high number of stakers reflects the strength and security of the network’s activity. </b></h4> 
<p>In that light, SSV Network has crossed one million in staked ETH. That means the SSV Network will be more efficient in operation. <span style="font-weight: 400;">Read on to know what this is all about.</span></p> 
<h5><b>Launch and Key Features</b></h5> 
<p><a href="https://ssv.network/" target="_blank" rel="noopener"><span style="font-weight: 400;">SSV Network</span></a><span style="font-weight: 400;"> launched a permissionless network in December 2023. With the launch, various stakers could distribute ETH validators. They could also receive incentives by operating </span><a href="https://ssv.network/run-a-node/" target="_blank" rel="noopener"><span style="font-weight: 400;">nodes</span></a><span style="font-weight: 400;">. </span><span style="font-weight: 400;">SSV Network provides an essential structure for developers. Developers can now use </span><span style="font-weight: 400;"><a href="https://ssv.network/blog/technology/dvt-essentials-diversity/" target="_blank" rel="noopener">DVT technology</a> </span><span style="font-weight: 400;">to create staking applications.</span></p> 
<p><span style="font-weight: 400;">One emerging use case is restaking and SSV Network supports it. It enables the developers to use one blockchain to safeguard other </span><span style="font-weight: 400;">decentralized apps</span><span style="font-weight: 400;">. It offers an efficient and robust structure that improves Ethereum’s security. About 11,500 validators are from SSV Network’s partners. The 11,500 validators represent $1.2 billion out of the $3.2 billion total value locked (TVL).</span></p> 
<p><img decoding="async" class="wp-image-145156 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfdgghjy-247x300.jpg" alt="" width="426" height="518" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfdgghjy-247x300.jpg 247w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfdgghjy-346x420.jpg 346w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfdgghjy.jpg 391w" sizes="(max-width: 426px) 100vw, 426px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/ssv_network/status/1810311861717582277" target="_blank" rel="noopener">X</a></strong></h6> 
<h5><b>Advantages of SSV Network</b></h5> 
<p><span style="font-weight: 400;">By crossing </span><span style="font-weight: 400;">1 million staked ETH</span><span style="font-weight: 400;">, SSV Network promotes enhanced security for </span><span style="font-weight: 400;">dApps</span><span style="font-weight: 400;">. It also <a href="https://ssv.network/blog/community/ssv-network-secures-1-million-staked-eth-with-dvt/" target="_blank" rel="noopener">provides</a> users with opportunities to earn rewards through its incentivization program. </span><span style="font-weight: 400;">SSV’s DVT technology </span><span style="font-weight: 400;">distributes validator duties among trusted node operators. It increases the resilience and decentralization of the network.</span></p> 
<p><img decoding="async" class="wp-image-145157 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cvxfdggfghfghf-300x298.jpg" alt="" width="429" height="426" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cvxfdggfghfghf-300x298.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cvxfdggfghfghf-150x150.jpg 150w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cvxfdggfghfghf.jpg 391w" sizes="(max-width: 429px) 100vw, 429px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/ssv_network/status/1810311896530305184" target="_blank" rel="noopener">X</a></strong></h6> 
<h5><b>How SSV Network Operates</b></h5> 
<p><span style="font-weight: 400;">The SSV Network allows the distribution of ETH validator nodes across many components. More than 700 globally distributed node operators run execution and consensus with clients. They do this from different infrastructure types and </span><a href="https://ssv.network/blog/technology/exploring-the-intersection-of-mev-dvt-integrating-mev-into-ssv-network/" target="_blank" rel="noopener"><span style="font-weight: 400;">MEV relays</span></a><span style="font-weight: 400;">. This setup offers users greater flexibility and reliability than traditional non-DVT staking platforms.</span></p> 
<p><span style="font-weight: 400;">Lido Finance</span><span style="font-weight: 400;">,</span> <span style="font-weight: 400;">Ether.Fi</span><span style="font-weight: 400;">,</span> <span style="font-weight: 400;">P2P.org</span><span style="font-weight: 400;">, and </span><span style="font-weight: 400;">Renzo</span><span style="font-weight: 400;"> are all SSV Integrations. They are all significant players, with many validators spread across the network. </span><span style="font-weight: 400;">A member from SSV Labs gave his opinion about the SSV network’s vision. “SSV Network is creating a new standard for ETH staking. It is taking the industry by storm. It builds on the Ethereum community’s open-source, permissionless, and trustless ethos.”</span></p> 
<p><img decoding="async" class="wp-image-145159 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfhgfhgjgh-300x300.jpg" alt="" width="478" height="478" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfhgfhgjgh-300x300.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfhgfhgjgh-150x150.jpg 150w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/vcxfhgfhgjgh.jpg 391w" sizes="(max-width: 478px) 100vw, 478px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/ssv_network/status/1810311958144630894" target="_blank" rel="noopener">X</a></strong></h6> 
<h5><b>Future Plans and Scaling Roadmap</b></h5> 
<p><span style="font-weight: 400;">This platform announced an </span><span style="font-weight: 400;">updated scaling roadmap </span><span style="font-weight: 400;">for this milestone. The platform is increasing the recommended hardware requirements for node operators. It is moving from a 4-core CPU to an 8-core CPU, raising hardware costs.</span></p> 
<p><a href="https://www.ssvlabs.io/" target="_blank" rel="noopener"><span style="font-weight: 400;">SSV Labs</span></a><span style="font-weight: 400;"> is one of the protocol’s development teams. SSV Labs is working on solutions to reduce these hardware requirements. It is working on reducing it by 75–90% over the next 12 months.</span></p> 
<p><img decoding="async" class="wp-image-145161 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cvvcbvcbcbdfdfgd-300x286.jpg" alt="" width="503" height="480" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cvvcbvcbcbdfdfgd-300x286.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/07/cvvcbvcbcbdfdfgd.jpg 391w" sizes="(max-width: 503px) 100vw, 503px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://x.com/ssv_network/status/1737910877079372076" target="_blank" rel="noopener">X</a></strong></h6> 
<h5><strong>Conclusion</strong></h5> 
<p><span style="font-weight: 400;">SSV Network crossed a milestone of 1 million <a href="https://www.altcoinbuzz.io/?s=staked+ETH" target="_blank" rel="noopener">staked ETH</a>. Crossing this milestone makes the SSV network a good option for staking and restaking. With launches, key features, SSV’s visions, and roadmap, it aims for growth. This platform is improving the concept of staking and restaking, and this is only the beginning.</span></p> 
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<h6><strong>Disclaimer</strong></h6> 
<p>The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.</p> 
<p>The post <a href="https://www.altcoinbuzz.io/cryptocurrency-news/ssv-network-stakes-1m-eth-enhancing-ethereums-security/">SSV Network Stakes 1M ETH, Enhancing Ethereum’s Security</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

SSV Network Stakes 1M ETH, Enhancing Ethereum’s Security

Altcoin Buzz

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