Ethereum

Lido DAO

The SSV-powered distributed validators (DVs) in the new Simple DVT Software Module have been formally deployed and are ready for&nbsp;deposits. Participants in the cluster will perform the DVs related to <a href="https://lido.fi/" target="_blank" rel="noreferrer noopener nofollow">Lido</a>, the Ethereum middleware solution for liquid staking, using SSV Network Distributed Validator Technology (DVT) among other things. 
The goal of the Simple DVT module is to make&nbsp;use of the technology’s ability to improve resilience, distribution, and security while broadening the range of node operators connected to and using the Lido protocol. Additionally, the module opens the door for future permissionless and more scalable DVT-based modules. 
<a href="https://twitter.com/EridianAlpha" target="_blank" rel="noreferrer noopener nofollow">Eridian</a>, Simple DVT administrator at SSV Network DAO, said: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “The Lido middleware utilizing DVT protocols including SSV is an important step towards vastly increasing the number of node operators and enabling solo home stakers to participate as node operators. SSV is optimized to serve as a low/no coordination DVT solution and will facilitate the development of trustless modules in the future.” 
</blockquote> 
The newest Lido-branded staking software module, the Simple DVT Module, has SSV.Network’s DVT implementation as one of its components. Initially, the module capacity will be limited to 0.5% of all ETH tokens (now valued at around $30.1B) staked&nbsp;by middleware users. After a <a href="https://twitter.com/EridianAlpha" target="_blank" rel="noreferrer noopener nofollow">Lido DAO vote</a>, the threshold was raised to 4%. After been assessed by the LNOSG committee, the DVT clusters operating on the Lido testnet have begun to activate keys on the mainnet. 
DVT’s inclusion in the Lido software suite&nbsp;will draw attention to it and fortify the staking ecosystem as a whole. The technology will assist improve fault tolerance, boost client diversity, and potentially lower bond needs in the future. It will also significantly expand the number of participating node operators utilizing the Lido middleware. 
It is possible for node operators to gain from reduced&nbsp;hardware and capital needs for stakers by using DVT. Furthermore, node operators that want to take part in the forthcoming permissionless Community Staking Module have the option to use DVT infrastructure, such as SSV.Network. SSV.Network’s decentralized infrastructure is used by Lido and other staking protocols to implement DVT. 
<a href="https://research.lido.fi/u/kimonsh/summary" target="_blank" rel="noreferrer noopener nofollow">Will Shannon</a>, a contributor supporting the Lido middleware, said: 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 “Incorporating DVT is the fastest way to expand the number of node operators using the Lido protocol to run validators. Simple DVT is the first step, with an opportunity to connect over 300 net-new node operators to the middleware in the first six months following the launch of the module. The SSV team has developed a highly performant DVT protocol that over time has the potential to further the decentralization and resilience of node operators across infrastructure, clients, and geographies.” 
</blockquote> 
In order to decentralize <a href="https://thenewscrypto.com/is-an-ethereum-eth-bull-rally-on-the-horizon/" target="_blank" rel="noreferrer noopener">ETH</a> staking and reduce the vulnerability of the whole network to assaults, DVT is becoming more and more important. By enabling several parties, including professional node operators and at-home stakers, to run a validator, it reduces the possibility of slashing&nbsp;and removes single points of failure. All complex systems suffer from a creeping centralization that may be greatly reduced by the technology, particularly in light of the current issues with supermajority clients. 
Any organization may utilize SSV.Network’s open-source protocol to use the network’s staking technology to develop DVT-powered staking services and apps. The protocol, together with its 700+ node operators, is now celebrating securing over 1,000,000 ETH since its Permissionless debut in December. As the Simple DVT module goes live&nbsp;and more builders join its ecosystem, this sum is expected to rise in tandem.

SSV.Network Powered Simple DVT Module Officially Goes Live

TheNewsCrypto

Другие статьи, опубликованные 11 июл. 2024 г.

BitMEX Faces Guilty Verdict For Bank Secrecy Act Violation

Top Underrated Page 3 Crypto For Massive Gains

JP Morgan Announces the Date When Bitcoin (BTC) and Altcoins Will Rise!

MoonBag Crypto Surges Ahead: Outpacing Wrapped ETH and SingularityNET Amid Market Turbulence

DOT Attracts Attention with Price Increase

Will Crypto Voters Be the Game-Changer in the US Election 2024?

Join our free newsletter for daily crypto updates!