SSV Network, a decentralized validator network built on Ethereum, has achieved a significant milestone in the staking and restaking ecosystems. With one million ETH staked on its platform, SSV Network has proven its ability to securely distribute ETH validators and incentivize node operators.
The network, which was launched in December 2023, allows developers to build staking apps using distributed validator technology (DVT) on top of its open-sourced, DAO-owned protocol. By distributing validator responsibilities among trust-minimized node operators, SSV Network promotes decentralization, resilience, and uptime.
Restaking, a new trend in the blockchain industry, enables developers to use a blockchain to secure additional decentralized apps. SSV Network can be utilized by restaking protocols to enhance their restaking processes. By securing Ethereum’s base layer, SSV Network strengthens the crypto-economic security of Ethereum as a whole.
In the restaking ecosystem, SSV Network’s partners and integrations contribute to over 11,500 validators, with a total of $1.2 billion staked ETH out of the $3.2 billion. The network’s extended incentivization program rewards users for achieving the milestone in ETH staked, encouraging improved application security.
SSV Network has established itself as a “critical infrastructure” for staking and restaking by allocating validators to the best node operators within Ethereum. Its DVT infrastructure allows for the geographical distribution of Eth validator nodes across multiple machines, providing users with flexibility and resilience compared to traditional staking platforms.
Integrations with SSV Network include Lido Finance, Ether.fi, P2P.org, Renzo, and others, with a significant number of validators spread throughout the network.
The SSV Labs team, a contributor to SSV Network, expressed their anticipation that reaching one million staked ETH would drive further adoption of the platform and solidify its position in the staking and restaking validator ecosystems.
Additionally, SSV Network has unveiled its revised scaling roadmap, which aims to reduce the hardware requirements for node operators. The platform is transitioning from a recommended 4-core CPU to an 8-core CPU, increasing hardware expenses for operators. However, SSV Labs is actively working on reducing the hardware needs by 75-90% over the next 12 months.
