What is Eigenlayer?
EigenLayer is a middleware protocol built atop Ethereum, proposing a significant network expansion through a new cryptoeconomic primitive known as restaking. It enables users who have staked Ether (ETH) on the Ethereum network to “restake” their assets. These restaked assets act as collateral to support the security of other protocols and applications. EigenLayer introduces “restaking” to Ethereum, which involves deploying the same ETH for staking on both Ethereum and other platforms, thereby broadening trust across these ecosystems and increasing the utility and rewards of staked tokens.
Eigenlayer goals
The purpose of EigenLayer is to enable new proof-of-stake projects to quickly establish security by connecting to a broader trust network — circumventing the challenges of developing their own. EigenLayer aims to solve the problem of fragmented trust networks by allowing projects to leverage Ethereum’s proven security. The project also aims to provide new reward opportunities for stakers and enhance network security. Potential use cases and applications of the technology include securing oracles, rollups, and other services, and providing a faster and more affordable way to achieve data availability compared to relying solely on the Ethereum base layer.
Eigenlayer fondamentals
EigenLayer doesn't have its own native cryptocurrency. However, it has a token called EIGEN, which is the core staking and work token within the EigenLayer ecosystem, securing decentralized services like oracles and data availability layers.
Marketcap
$0.93656304B
Total number of Eigenlayer
1695532817 EIGEN
Eigenlayer technology
EigenLayer operates by allowing Ethereum stakers to “restake” their ETH or Liquid Staking Tokens (LSTs) to secure additional decentralized services built on the protocol, called Actively Validated Services (AVSs). It extends Ethereum’s cryptoeconomic security to these services through a process of delegation and validation, while stakers earn additional rewards for their participation. EigenLayer is built on the Ethereum blockchain and uses smart contracts to automate processes.
Eigenlayer competitors
EigenLayer differentiates itself from competitors by introducing a new concept called restaking, which allows users to reuse their staked ETH to secure additional decentralized services. This innovation aims to enhance network security and provide new reward opportunities for stakers. EigenLayer's competitive advantage lies in its ability to extend Ethereum's security model to more decentralized applications, making it a unique player in the market.
Eigenlayer price history
Frequently asked questions
EigenLayer restaking is a concept that enables stakers on the Ethereum network to use their staked ETH to secure other protocols and earn additional rewards without having to unstake their tokens.
EigenLayer works by allowing users to restake their ETH or Liquid Staking Tokens (LSTs) to secure additional decentralized services built on the protocol, called Actively Validated Services (AVSs).
The EIGEN token is the core staking and work token within the EigenLayer ecosystem, securing decentralized services like oracles and data availability layers.
EigenLayer comes with several risks, including the potential for centralization, slashing penalties, and the risk of losing a portion of, or even the entire stake.
EigenLayer enhances Ethereum's security and scalability by allowing projects to leverage Ethereum’s proven security and providing a faster and more affordable way to achieve data availability compared to relying solely on the Ethereum base layer.
EigenDA is a decentralized data availability layer built for Ethereum rollups, offering high-throughput and scalable data storage. It enables rollups to store their transaction data off-chain while ensuring that the data remains accessible and verifiable when needed.
EigenLayer's restaking works by allowing users to restake their ETH or Liquid Staking Tokens (LSTs) to secure additional decentralized services built on the protocol, called Actively Validated Services (AVSs).
Restakers play a crucial role in the ecosystem by pledging their staked ETH or ETH liquid staking tokens (LSTs) to the ecosystem, and in return expect to receive rewards for their commitment.
Operators in EigenLayer are individuals who facilitate the functioning of the software developed on this platform. They enroll in EigenLayer, enabling restakers to delegate their stakes to them.
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