Since the publication of its white paper, EigenLayer has received a a lot of attention, with many experts praising its novel idea.
The network is secured by economic incentives and validators have to lock up 32 ETH. This is done to ensure that validators don’t go rogue and indulge in malicious activities like the 51% attack.
While this strategy contributes to the security of the base layer, the benefits are not passed on to other applications developed on top of Ethereum. These include sidechains, bridges, and oracles and leaving them to develop their own security might not be as efficient.A game changer for Web3 security?
EigenLayer is protocol built on Ethereum that allows ETH stakers to participate in validating new software modules developed on top of the Ethereum ecosystem, according to itsThe protocol introduces what it calls “restaking” i.e, staked ETH will be repurposed to extend security to other applications. And the security gets shared across the ecosystem.
EigenLayer will function as a middle layer giving users the right to choose which module they wish to secure using their staked ETH. Validators will earn extra yield in return as the staked ETH is used for securing additional applications. Moreover, apart from staking ETH natively, validators will have an option of staking the liquid derivatives of their staked assets such asSince the publication of its white paper, the project received great attention, with many experts praising its novel idea. The protocol was successfully launched onIs your portfolio green? Check out the
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rising interest in staked ETH: Implications for Lido, Rocket Pool and Frax FinanceRecent data shows a surge in wstETH deposits on Aave, raising questions about the impact on Lido, Rocket Pool, and Frax Finance.
Read more »
Lido outpaces competitors in May – the reason is clearLido saw a surge in protocol revenue following the launch of its much-awaited version 2, enabling users to withdraw their Staked ETH to Ethereum.
Read more »
Is a bullish breakout possible for Ethereum? The indicators say…ETH bulls have attempted a breakout past the $1,924 resistance level twice. Can they achieve their aim on the third try?
Read more »
Wealthy young men living outside the city mostly likely to access B.C.'s great outdoors, survey findsOutdoor Recreation Council of B.C. also finds most people don\u0027t know volunteers maintain most trails
Read more »
Woman walking on California beach finds ancient mastodon toothA woman taking a Memorial Day weekend stroll on a California beach found something unusual sticking out of the sand: a tooth from an ancient mastodon.
Read more »
More Ontario homeowners sold within a year of buying as interest rates climbed, report findsTeranet says the increase ‘may suggest home ownership stress for those who purchased at the peak of the housing market.’
Read more »