Staking services company ssv.network has taken an important step in decentralizing staking. This move particularly concerns Ethereum. Ssv.network also provides partnerships with altcoin projects such as Ankr.
SSV Network made an important announcement that shook the altcoin industry
SSV Network announced that it will launch a fully decentralized staking service for Ethereum and other Blockchains. This move relieved the altcoin community in this period when exchange-based staking is dominant.
SSV Network’s protocol founder Alon Muroch also has great expectations. Muroch said, “SSV Network opens the door to a new era for Ethereum staking. “Our aim is to include users who find the staking process complicated in the system.”
https://twitter.com/ssv_network/status/1702323495995363401
SSV Network launches decentralized staking mainnet with partner apps
SSV is also launching a public mainnet that aims to provide decentralized staking services using distributed verification technology. This altcoin network will connect users to a network of operators that co-manage Ethereum validator operators. It will be possible to receive shares from SSV through partner applications.
The SSV mainnet launch has more than ten launch partners who will integrate their staking dApps with SSV, including Stader, Ankr, Stakestar, 01node, Metapool, StakeTogether, XHash, Chainup, Coindelta, and Claystack.
The date for staking services has been announced
Users can currently only stake through partner staking apps. However, with the “permissionless launch” phase in the fourth quarter, the opportunity to stake directly through SSV and become a node operator will also be offered.
This strategy created excitement in the altcoin community. SSV’s mainnet launch will be opened to a wide user base after a series of stages. SSV aims to make it easier for more users to access decentralized staking services by bringing a brand new perspective to the world of Ethereum staking.
Altcoin price reacts positively to staking announcement
The SSV price gained 5% at one point following the announcement in the past hours. The altcoin, ranked 216th by market cap, is currently trading at $15.72.
What is SSV Network?
SSV Network allows managing Ethereum validators with a decentralized staking mechanism through a network of “operators”. While traditional staking services create problems, this network offers an alternative. It allows ETH holders to maintain control over their altcoin assets.
While this network helps users cope with difficulties, it also provides convenience in authenticator key storage and management. Additionally, each validator managing 32 ETH is shared among various operators via BLS signatures. In short, SSV distributes transactions to multiple users using a separate encryption protocol.
Finally, SSV Network raised $10 million from notable investors in February 2022. This shows that the project has strong financial support. As Kriptokoin.com, we have included what you need to know about SSV Network in this article.
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