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July 11, 2024

SSV.Network Launches Simple DVT Software Module, Opening It For Deposits

In Brief

SSV.Network deployed of SSV-powered distributed validators within the new Simple DVT Software Module, which is now open for deposits.

SSV.Network Launches Simple DVT Software Module, Opening It For Deposits

Ethereum staking infrastructure provider SSV.Network announced the deployment of SSV-powered distributed validators (DVs) within the new Simple DVT Software Module, which is now open for deposits. The SSV Network Distributed Validator Technology (DVT) will be utilized by cluster participants to operate the DVs associated with Lido, a middleware solution for liquid staking on Ethereum.

The Simple DVT module is intended to broaden the diversity of node operators connected to and using the Lido protocol. It leverages the technology to enhance resilience, distribution, and security. Additionally, this module sets the stage for the development of more scalable and permissionless DVT-based modules in the future.

DVT is playing an increasingly important role in decentralizing ETH staking and improving the network’s resistance to attacks. By eliminating single points of failure and reducing the risk of slashing, DVT enables a validator to be operated by multiple parties, including professional node operators and home stakers. This technology can counteract the gradual centralization often seen in complex systems, addressing recent concerns about supermajority clients.

SSV.Network’s launch of DVT is a key part of the Simple DVT Module, the latest Lido-branded staking software module. Initially, the module’s capacity was limited to 0.5% of all ETH tokens staked by middleware users, which were valued at approximately $30.1 billion. However, this threshold was recently raised to 4% following a vote by the Lido DAO. The DVT clusters, previously running on the Lido testnet, have been evaluated by the LNOSG committee and are now starting to activate keys on the mainnet.

Lido Integrates DVT To Enhance Staking Ecosystem and Expand Node Operator Participation

The integration of DVT within the Lido software suite aims to highlight the benefits of DVT while enhancing the overall staking ecosystem. This technology will expand the number of node operators using the Lido middleware, promote client diversity, improve fault tolerance, and potentially lower bond requirements in the future.

Additionally, by utilizing DVT, node operators could potentially benefit from lower hardware and capital requirements for stakers. Moreover, node operators may opt to use DVT infrastructure, such as SSV.Network if they decide to participate in the upcoming permissionless Community Staking Module. Lido is among several staking protocols implementing DVT by integrating with SSV.Network’s decentralized infrastructure.

SSV.Network develops user-friendly and scalable infrastructure for builders using a DVT architectural framework tailored for Ethereum staking. As an open-source protocol, SSV.Network enables any entity to leverage its staking technology to build DVT-powered staking applications and services. Since its permissionless launch in December, the protocol, supported by over 700 node operators, has successfully secured over 1,000,000 ETH. This figure is expected to rise with the launch of the Simple DVT module and the ongoing contributions from various builders within its ecosystem.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

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.

More articles
Alisa Davidson
Alisa Davidson

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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