Lido DAO

The SSV-powered distributed validators (DVs) have been launched as part of the new Simple DVT Software Module, which is ready to accept deposits. This technology is a key part of Lido’s strategy, a liquid staking solution for Ethereum, to diversify its node operators and enhance the protocol’s resilience, distribution, and security. 
The Simple DVT module is specifically designed to foster a more scalable and permissionless ecosystem for future DVT-based applications. Eridian, the Simple DVT administrator at SSV Network DAO, emphasized the significance of this development, stating, “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.” 
The module is integrated into Lido’s latest staking software, with its capacity initially limited to 0.5% of all ETH tokens staked through the middleware, roughly valued at $30.1 billion. This cap was raised to 4% after a Lido DAO vote. The DV clusters initially tested on the Lido testnet are now operational on the mainnet, as confirmed by the LNOSG committee. 
The implementation of DVT within Lido’s suite is set to expand the number of node operators significantly, enhance client diversity, improve fault tolerance, and potentially lower bond requirements. Node operators can also look forward to reduced hardware and capital expenses, with options to connect to SSV.Network’s decentralized infrastructure through the upcoming Community Staking Module. 
Will Shannon, a contributor to the Lido middleware, highlighted the impact of DVT, saying, “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.” 
DVT plays a crucial role in decentralizing ETH staking, reducing network vulnerabilities, and minimizing slashing risks by distributing validator operations among various parties, including professional and at-home node operators. This system counters the centralization risks prevalent in complex systems and is a part of the broader strategy to decentralize the ETH network further. SSV.Network, as an open-source protocol, enables the creation of various DVT-powered applications and has already secured over 1,000,000 ETH with its 700+ node operators.

Simple DVT Module Powered Validators Go Live

Crypto Intelligence

在 2024年7月11日發表的其他文章

Best Cryptos to Hold for Future Gains

Crucial Cryptocurrencies for Long-Term Growth

USDC volume surges to $23B in 2024: What are the reasons behind the rise?

BitMEX Responds to DOJ’s BSA Violation Guilty Plea Announcement, Says “Nothing New”

Breaking: US CPI Inflation Eases To 3% Raising Bets For Three Fed Rate Cuts

MV Global’s Managing Partner Foresees Massive Inflows into Ether ETFs: Upcoming Ether ETFs Could ...

訂閱免費電子報，每天收取加密貨幣最新動態！