{"id":10014,"date":"2025-01-28T08:04:44","date_gmt":"2025-01-28T08:04:44","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=10014"},"modified":"2025-01-28T08:04:44","modified_gmt":"2025-01-28T08:04:44","slug":"ethereums-ssv-network-unveils-new-project-to-bring-based-application-to-the-ecosystem","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=10014","title":{"rendered":"Ethereum\u2019s SSV Network Unveils New Project To Bring \u2018Based Application\u2019 To The Ecosystem"},"content":{"rendered":"
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SSV Network recently revealed SSV 2.0, a new bootstrapping model to bring \u201cBased\u201d Applications (bApps) to Ethereum. The new infrastructure framework aims to enhance the network\u2019s security and enable \u201ctruly decentralized\u201d bApps without compromising Ethereum\u2019s core values.<\/p>\n

SSV Network To Bring \u2018Based Applications\u2019 To Ethereum<\/h2>\n

SSV Network announced<\/a> SSV 2.0, an infrastructure framework created to \u201caddress the increasing ecosystem fragmentation\u201d and growing demand for Layer 1 (L1)-anchored interoperable solutions.<\/p>\n

SSV Network is a fully decentralized distributed staking infrastructure securing 1.9 million staked ETH. The staking network allows the distributed operation of Ethereum validators using Secret Shared Validators (SSV).<\/p>\n

According to the announcement, the new bootstrapping model will allow applications \u201cto go \u2018based\u2019\u201d by directly leveraging Ethereum\u2019s validator network. The \u201cbased\u201d approach<\/a> is set to \u201creunite fragmented liquidity while enhancing security\u201d through Ethereum\u2019s validator infrastructure.<\/p>\n

Moreover, SSV Network highlighted the growth of the based ecosystem, which creates a need for \u201ca based solution to bootstrapping.\u201d It also noted that SSV 2.0 aims to allow developers to build on Ethereum L1 in a \u201cway that is aligned with the original values and future vision of the ETH ecosystem.\u201d<\/p>\n

This includes solving several core issues like fragmentation, high bootstrapping costs, and inadequate security for many Layer 2<\/a> (L2). Founder and CEO of SSV Labs, Alon Muroch, stated that the project could change the restaking market, create a new \u201cbased economy,\u201d and transform the network\u2019s economics:<\/p>\n

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SSV2.0 is the biggest, most ambitious project for the SSV Network DAO that has ever been envisioned. If put in place by the DAO, it will profoundly change the restaking market and will create a new \u2018Based Economy\u2019 where validators directly secure the bApps of tomorrow. All while positively transforming the SSV economics.<\/p>\n<\/blockquote>\n

A \u2018New Class\u2019 Of Decentralized Apps<\/p>\n

According to the announcement, SSV 2.0 bases any services or applications directly on the Ethereum L1, creating a \u201cnew class of decentralized applications\u201d that allows validators<\/a> to do more. Additionally, it aims to ensure that bApps can use Ethereum L1\u2019s security, decentralization, and Sybil resistance.<\/p>\n

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A bApp gains security directly from the L1 instead of utilizing different tokens like in current restaking models, making them more Ethereum-aligned and not exposing Ethereum or its validators to cascading risks. Additionally, gaining more security for the cost of bootstrapping SSV 2.0 extends beyond traditional bootstrapping approaches by introducing the first \u2018Infinite-sum\u2019 security model, where increased participation strengthens the entire network rather than creating zero-sum competition.<\/p>\n<\/blockquote>\n

The new model utilizes the validator as the basis of security to provide a \u201cshared security foundation\u201d to bootstrap any use case, including L2s, oracles, fraud-proofs, and other things that require validation and security.<\/p>\n

Meanwhile, validators will be able to unlock benefits by helping bApps bootstrap. SSV Network states that in SSV 2.0, validators can increase their gains by opting into secure bApps or providing different services, like L2 sequencing or validator commitments, to those that need it.<\/p>\n

The team announced the development of the SVV Chain as the first bApp to \u201csupport the coordination of the new based economy.\u201d The dedicated chain<\/a> will act as a secure coordinator layer to enable the extension of the SSV network to multiple L1s, including Solana, Avalanche, and Cosmos.<\/p>\n

Additionally, SSV Network unveiled its tokenomic changes as part of its transformation from a Distributed Validator Technology (DVT)-powered staking infrastructure into a multidimensional network for the based economy. \u201cFirst, SSV 2.0 will enable anyone to participate in securing bApps and get rewarded by staking SSV. Second, the SSV token will introduce new burning and fee mechanisms,\u201d the announcement read.<\/p>\n

\"Ethereum,<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

SSV Network recently revealed SSV 2.0, a new bootstrapping model to bring \u201cBased\u201d Applications (bApps) to Ethereum. The new infrastructure framework aims to enhance the network\u2019s security and enable \u201ctruly decentralized\u201d bApps without compromising Ethereum\u2019s core values. SSV Network To Bring \u2018Based Applications\u2019 To Ethereum SSV Network announced SSV 2.0, an infrastructure framework created to […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-10014","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10014","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10014"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/10014\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}