EigenLayer plans to implement “Shared Security,” a mechanism that allows protocols to join the network by leveraging a pool of ETH stakes.
EigenLayer offers a protocol for users to deposit and “re-stake” ETH from various liquid staking tokens, with the goal of allocating those funds to secure third-party networks. The first phase of the project will launch on the Ethereum main network in June 2023.
In the future, the team intends to push the project into a major decentralized application platform. and enable other projects to launch, leveraging so-called shared security.
It will allow the amount of ETH to re-stake on EigenLayer which is currently worthMore than 1.7 billion dollarswith all services developed on the network simultaneously for the benefit of a common security mechanism.
“You have to have $1 billion in capital as an attacker to be able to attack any one service. And there is stronger strength and security when you combine security,” said Sreeram Kannan, founder of EigenLayer.
Such shared security models have been used by projects such as Polkadot Although the mechanics are very different.
EigenLabs, the team behind EigenLayer, closed a $50 million Series A funding round led by Blockchain Capital in March 2023.
refer : theblock.co
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