In a significant development, the SSV.Network has launched its permissionless mainnet, marking a crucial step forward for the decentralized staking network.
The SSV.Network distinguishes itself by leveraging Distributed Validator Technology (#DVT), a decentralized and open-source staking model.
DVT ensures an additional layer of security and resilience by distributing the operations of a single Ethereum validator across multiple non-trusting nodes.
This innovative approach minimizes the risks associated with centralization and operational vulnerabilities commonly found in traditional staking solutions. Participants in the SSV.Network can earn rewards in ETH by staking on this decentralized platform.
An essential aspect of SSV’s appeal lies in its fully permissionless protocol, allowing any participant to join the network as a validator or operator. With the recent launch, SSV has seen a remarkable uptake, boasting more than 110 operators live on the mainnet.
These operators offer a diverse range of execution and consensus clients, unique geographical locations, and an impressive roster of over 50 $ETH validators operational on the @ssv_network cluster. The Total Value Locked (TVL) on the mainnet has surged to over $200,000,000, underscoring the growing confidence and participation in the SSV.Network.
Notably, the native token, $SSV, has experienced a remarkable surge in its value, witnessing a 20% increase in the past 24 hours. Over the past 7 days, $SSV has gained 29%, showing resilience and positive momentum. The month-long performance reflects a robust 49% increase, while the past 3 months have seen an impressive growth of 148%.
The successful launch of the permissionless mainnet marks a significant achievement for SSV.Network, positioning it as a promising player in the decentralized staking landscape. The robust growth in TVL and the positive performance of $SSV reflect the broader crypto community’s recognition of SSV’s innovative approach and its potential impact on decentralized staking.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Ethereum stumbles as Bitcoin surges past $97K, Solana eyes new highs, and JetBolt’s presale shakes…
The crypto market is a buzz with promising presales as 2024 draws the curtains. With…
The Cheems token on the Binance Smart Chain (BSC) is gaining significant momentum, surging by…
The value of $LESTER plummeted by 40% in the past 24 hours, leaving its market…
In a bizarre turn of events, a young live-streamer known as Xiaohaige created the memecoin…
The crypto whale known as "convexcuck.eth" has made waves in the DeFi world, spending $2…