Lido DAO

The deployment of SSV Network’s DVs in the Simple DVT Software Module will allow more at-home validators to become node operators.&nbsp; 
<a href="https://ssv.network/">SSV Network</a> announced the official deployment of its distributed validators (DVs) in the new Simple Distributed Validator Technology (DVT) Software Module. SSV-powered validators, including professional and at-home stakers, can now deposit their assets in the clusters to become node operators. SSV Network DVT joins other DVTs in the module and will be used by cluster participants to run the DVs associated with <a href="https://lido.fi/">Lido Finance</a>, the leading staking platform for Ethereum.&nbsp; 
The Simple DVT Module (sDVTm) provides the first-of-its-kind opportunity for community stakers (including solo stakers) to participate in running validators. This diversifies the node operator set of Lido providing a more resilient, distributed and secure staking platform. The module was set up following a vote from the Lido DAO Governance, with the DVT solutions provided by Obol and SSV Network. The sDVTm module will pave the way for more scalable, complex and permissionless DVT modules in the future.&nbsp; 
<blockquote> 
 “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,” <a href="https://twitter.com/EridianAlpha">Eridian</a>, Simple DVT administrator at SSV Network stated. “DAOSSV is optimized to serve as a low/no coordination DVT solution and will facilitate the development of trustless modules in the future.” 
</blockquote> 
In the original proposal, sDVTm’s staking capacity was to be capped at 0.5% of all ETH tokens staked by middleware users (~$30 billion), but following a <a href="https://research.lido.fi/t/proposal-expanding-the-simple-dvt-module/7549/10">Lido DAO vote</a>, the threshold has been increased to 4%.&nbsp; 
<h2 id="why-does-the-simple-dvt-module-work">Why does the Simple DVT module work?</h2> 
The introduction of SSV Network DVT to Lido will be a major spotlight for the technology, strengthening the staking ecosystem as more validators join as node operators. The technology will drastically increase the number of participating node operators using the Lido middleware, help increase client diversity, enhance fault tolerance, and potentially reduce bond requirements in the future. 
Additionally, node operators may also benefit from reduced hardware and capital requirements for stakers. Node operators may also elect to utilize DVT infra such as SSV Network should they choose to participate in the upcoming permissionless Community Staking Module. 
The sDVTm provides the fastest way for node operators to join the staking ecosystem and run validators. Secondly, it will enhance the resilience, decentralization and distribution of the underlying infrastructure. Lastly, validators can easily and securely battle-test distributed validator technologies on the mainnet.&nbsp; 
<blockquote> 
 “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,” said <a href="https://research.lido.fi/u/kimonsh/summary">Will Shannon</a>, a contributor supporting the Lido middleware. “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> 
<h2 id="the-role-of-dvt-platforms-in-eth-staking">The role of DVT platforms in ETH staking</h2> 
Distributed Validator Technology is steadily growing as the go-to choice for ETH stakers. The technology aims to decentralize staking, making the entire network less susceptible to attacks. It reduces the centralization aspects of staking, eliminating any single points of failure and minimizes the potential for slashing by allowing a validator to be operated by multiple parties.&nbsp; 
SSV Network has emerged as the leading DVT solutions provider, alongside Obal, enabling any entity to use the network’s staking technology to create DVT-powered staking applications and services. The permissionless service has witnessed massive growth over the past six months – welcoming over 700 node operators and has secured over 1 M+ ETH. As sDVTm is implemented, these numbers are expected to grow.&nbsp; 
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Simple DVT Module Goes Live: SSV Network’s Clusters Ready to Accept ETH Deposits

İçindekiler

Crypto Daily™

11 Tem 2024 tarihli diğer yazılar

Bitcoin (BTC) Price Prediction for July 11

BREAKING News!! SEC Withdrew Its Investigation Against Paxos

Terraform Labs to Sell Four Companies Amid Bankruptcy Proceedings

Top Crypto Airdrop Alerts July 2024

Chain Abstraction: The Solution to Web3 Fragmentation

SHIB Army Urges Binance CEO to Start Burning SHIB, Bitcoin Miners Are Capitulating, John Bollinge...

Güncel kripto para haberleri için ücretsiz bültenimize abone olun!