EigenLayer Introduces New Security Model To Provide AVS Risk Isolation Mechanism
In Brief
EigenLayer unveiled a new security model in anticipation of ‘Slashing’ protocol feature, aimed at enhancing network security and reliability.
Ethereum restaking protocol, EigenLayer introduced a new security model in anticipation of its upcoming ‘Slashing’ protocol feature, aimed at enhancing network security and reliability.
The updated model builds upon the previous version and introduces the concept that operators can choose to participate in a set of Actively Validated Services (AVSs). For each AVS, operators allocate a portion of their stake that can be uniquely slashed by that specific AVS, with the total of these fractions being less than one.
This configuration offers several key advantages, including enhanced control over slashing risk. By utilizing Unique Stake, the risk of slashing is confined to each individual AVS, allowing operators to manage how much of their stake any specific AVS can slash. Additionally, it ensures a guaranteed slashable stake, as each AVS can easily determine the total amount of slashable stake by summing the Unique Stake allocated to it by all its participating operators.
Additionally, the new model eliminates the need for a common veto committee. Since slashing is specific to each individual AVS, a shared veto committee is no longer required. Each AVS can establish its own slashing mechanisms and governance processes. Furthermore, AVS onboarding is permissionless, meaning operators only need to opt in to participate.
Other advantages include pooled security through Total Stake, where the combined stake enhances overall security. Furthermore, AVS payments are incentivized. Additionally, the design is forward-compatible, allowing for the future redistribution of slashed stake to AVSs. While this redistribution feature will not be available in the initial v1 release, it is planned for future updates.
EigenLayer Upgrades EIGEN And bEIGEN To Introduce Programmatic Incentives
EigenLayer operates as a protocol on Ethereum, designed to enhance the crypto-economic security of applications through the use of AVSs. These AVSs include systems requiring specialized validation processes, such as sidechains, data availability layers, and emerging virtual machines.
Recently, EigenLayer announced an upgrade to its EIGEN and bEIGEN contracts to introduce programmatic incentives. This update aims to enable AVSs to distribute rewards to their participants more efficiently.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
