SSV.Network is on the verge of completing its mainnet launch. Once achieved, it will pave the way for a wider rollout of its DVT implementation. Ethereum staking infrastructure protocol SSV.Network has unveiled a major partnership with P2P.org, the non-custodial provider of institutional staking. The deal will see P2P.org integrate the DVT Staking API, bringing Distributed Validator Technology to institutions, who will benefit from a stronger and more distributed validator set. DVT Enters the Market The partnership between SSV.Network and P2P.org will mark one of the largest demonstrations to date of DVT’s capabilities. The technology is expected to become ubiquitous on the liquid staking market, since it allows staking protocols to extend their validator set, bringing greater
Topics:
Andy Watson considers the following as important: Altcoin News, Blockchain News, Cryptocurrency News, News, P2P, p2p org, ssv network
This could be interesting, too:
Temitope Olatunji writes X Empire Unveils ‘Chill Phase’ Update: Community to Benefit from Expanded Tokenomics
Bhushan Akolkar writes Cardano Investors Continue to Be Hopeful despite 11% ADA Price Drop
Bena Ilyas writes Stablecoin Transactions Constitute 43% of Sub-Saharan Africa’s Volume
Chimamanda U. Martha writes Crypto Exchange ADEX Teams Up with Unizen to Enhance Trading Experience for Users
SSV.Network is on the verge of completing its mainnet launch. Once achieved, it will pave the way for a wider rollout of its DVT implementation.
Ethereum staking infrastructure protocol SSV.Network has unveiled a major partnership with P2P.org, the non-custodial provider of institutional staking. The deal will see P2P.org integrate the DVT Staking API, bringing Distributed Validator Technology to institutions, who will benefit from a stronger and more distributed validator set.
DVT Enters the Market
The partnership between SSV.Network and P2P.org will mark one of the largest demonstrations to date of DVT’s capabilities. The technology is expected to become ubiquitous on the liquid staking market, since it allows staking protocols to extend their validator set, bringing greater efficiencies in terms of maximizing uptime and bolstering decentralization.
Distributed Validator Technology is a solution for assigning key management to multiple parties which allows these entities to be responsible for maintaining a validator. This eliminates single points of failure. DVT entails splitting the key used to control the validator into a cluster, making it virtually impossible for an adversary to obtain all of the key parts needed to assume control.
When a staking system uses DVT, there is also redundancy built in since individual nodes can go offline but other nodes within the cluster can pick up the slack and maintain key signing duties. The security benefits of DVT are significant, but like any new technology, it must be introduced gradually with extensive testing to ensure that it is working optimally.
As Alon Muroch, Core Team Lead with SSV.Network, explains:
“From the largest institutional grade staking services to at-home stakers can benefit from using SSV.Network infra. The goal is to have many diverse onramps to DVT-powered staking to secure and decentralize Ethereum. The P2P.org staking API is an excellent example of what can be done to promote the next era in staking.”
Many More Integrations to Come
The partnership between SSV.Network and P2P.org will by no means be the last. SSV.Network is on the verge of completing its mainnet launch. Once achieved, it will pave the way for a wider rollout of its DVT implementation. The decision to work with P2P.org on one of the first instances of the DVT Staking API comes as no surprise given that P2P.org had already joined the SSV Limited Mainnet Launch as a Mainnet Verified Operator.
While staking provides benefits to blockchain networks, which can reduce their environmental impact while enabling broad participation in consensus, it carries some trade-offs. Creeping centralization is one such concern given the tendency for staking protocols to utilize a narrow selection of validators over time. DVT provides a way to return a staking network such as Ethereum to a more decentralized state without weakening underlying security.
“We welcome all institutions and businesses to leverage this novel Staking API, to not only meet the demands of their current staking strategy but also to be well-prepared for the decentralized landscape of tomorrow,” said Alex Esin, CEO of P2P.org.
More than $2 billion of assets are currently staked through P2P.org by more than 64,000 clients. Soon their non-custodial staking will be enhanced through the introduction of Distributed Validator Technology.