Get the latest information on Distributed Validator Technology (DVT) with ‘SSV Network.’
An article that highlights some of the modern technology used on the SSV.Network platform, including Distributed Validator Technology (DVT). The CEO and co-founder of SSV.Network, Alon Muroch, and Head of Venture Builder of SCB 10X, Unnawut Leepaisalsuwanna, discussed ideas and perspectives at REDeFiNE TOMORROW 2023.
SSV.Network and DVT (Distributed Validator Technology)
Alon introduced the Distributed Validator Technology (DVT) of SSV.Network, which allowed Ethereum's validator, which typically had just one main server, to operate freely by many. This was reliant on the consensus protocol, QBFT, and Threshold Signatures for block verification signing, causing the infrastructure to become decentralized, offering stakers security, and being more flexible as it can operate continuously. Additionally, working as a network can increase effectiveness, and applications can enhance the user experience.
SSV.Network has the advantage of being prepared to build infrastructure that is better suited to scaling and developer-friendly by concentrating on the decentralized staking infrastructure and inspiring DVT's market to move and become dynamic.
Is DVT replacing other staking services? The development difficulty before the Mainnet launch of SSV.Network
DVT will never replace any current staking services, such as Lido or Rocket Pool, according to Alon, but rather will be an addition by constructing a more user-friendly and crucial infrastructure. A system for transaction verification was required for these applications. As a result, SSV.Network gave developers the ability to build applications on transparent, scalable platforms.
The DVT from SSV.Network underwent a thorough development process to ensure reliability, scalability, and effectiveness. Since SSV.Network launched the public test network or Testnet two years earlier, it has had to deal with a variety of situations and take its time to ensure that the technology is complete. It was particularly important to concentrate on developing the developer community to drive the ecosystem and new technology forward.
Supporting the SSV.Network’s developers
SSV.Network offered assistance and ecosystem funding to support projects developed on DVT with interesting concepts that aided in the development of the local community. The SSV.Network community and the central committee would test it initially. Additionally, VCs joined the investment, which could provide long-term security for investors. Investors interested in powering the platform could access information on the website and connect with the community on Discord.
The future trend when SSV.Network launches Mainnet
Alon foresees the potential for scaling within the Ethereum block-building sector and expanding to other blockchains in the future, which would be the combination of other crucial elements. Examples include Layer-2 connections-focused solutions and MEV (Maximum Extractable Value). The current comprehensive improvement and the adaptation with protocol and developers, however, were still important to him. What was important was the switch from centralized staking to decentralized or independent staking.
When DVT was mentioned in relation to the verification process for Sequencers, Builders, Bridges, and Oracles, he said it could address problems in a number of ways. It helped you comprehend how SSV.Network's capabilities allowed process participants to jointly decide before signing documents for verification. Additionally, it implies that many people participate in the decision-making process behind a single signature. As a result, the decentralized protocol benefits all parties involved. Moreover, it enhanced economic value and decentralized opportunities.
Alon also concentrated on SSV.Network compatibility, a platform that allowed anyone to be a medium or Node service provider, by establishing a pool where service providers could advertise their offerings to developers. Therefore, this partnership may increase the opportunities for current service providers and small businesses to join the system, while developers may gain access to excellent infrastructure from service providers.
Alon concluded by expressing his excitement about Ethereum's potential for groundbreaking change and innovation as well as staking technology, DeFi, and upcoming trading trends, all of which he believed would undoubtedly occur. He was also willing to help those who had innovative ideas and were enthusiastic about the staking business by allowing them to join SSV.Network.
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