Almost a year after the day after Eigenlayer of Effthereum Protocole launched its “replacement” network to fanfare of the unprecedented industry, the network is finally adding a central characteristic that, until now, was very absent: “cut.”
Eigen Labs expects the Court, the Eigenlayer system to honestly maintain the “repetitions” revoking the guarantee if they act maliciously, it will finally realize the original launch of the one -year protocol.
“We are happy to say now that the entire promise has been delivered,” said Eigenlayer’s founder Sreeram Kannan.
Eigenlayer became one of the most bustling protocols in the history of Ethereum when the concept of replacement introduced to investors, an evolution of the “test of participation” in Ethereum.
Ethereum’s “Skn and Waterproof Testing System allows users” Estaca “Ether (ETH) with the chain to help you execute it and ensure it in exchange for interest. Eigenlayer allows users to bet on Ethereum and then reSupport it again with other protocols to obtain even more interest.
Despite launching its main network last year, Slashing, a main component of Eigenlayer’s shared security technology, was missing until Thursday. This led to criticism that the ambitious launch of Eigenlayer did not coincide with its technical reality.
Today, Eigenlayer has more than $ 7 billion in restarted assets, which makes it one of the largest decentralized finance applications (defi). It also admits an ecosystem of 39 validated services (AVS) that use its security model.
The new cutting system will be implemented on Thursday, but AVS equipment must opt, which means that it can spend some time before the Court is live in any application. Eigen Labs announced on April 17 as the release date to cut earlier this month.
Redesign for security
Eigenlayer users repeat Ether (ETH) and other tokens through third -party “operators”: infrastructure suppliers that delegate their llaque deposits eigenlyer grouped in different AVS.
Operators who delegate the participation of an AVS help to execute it in exchange for rewards: the more they accumulate, the greater the rewards.
In theory, Slashing ensures that these operators execute AVSS correctly. If the operators “show that they are malicious according to an Ethereum contract in the chain, then they can lose their participation or part of their participation,” Kannan explained.
When Slashing is launched on Thursday, AVSS will have the option of establishing cutting conditions and starting to penalize the bad actors.
“Apart from Ethereum and Cosmos, most stake testing systems, including Solana, are executed live without trimming,” Kannan said. “Although it is the mechanism of central responsibility, it is not that each system testing test already has this, that is not true. That is what we are building.”
As for why Eigenlayer received so many setback compared to other incomplete participation test systems: “We have talked a lot about the court, so we are stopped at that bar,” Kannan said.
Leverage elimination
The Eigenlayer cutting system was redesigned last year to address fears that the protocol introduced an insecure of influence to the Ethereum ecosystem.
“I think we completely cure that problem with this redesign,” Kannan said.
The entire idea behind Eigenlayer is to allow the new protocols to immediately take advantage of a large security group: the total set of assets forwarded.
In the stake test systems, the amount of assets stationed with a protocol corresponds to approximately to the sure it is. In general, attacking a protocol as Ethereum requires controlling half or more of the assets staked, which can run into billions of dollars.
The Eigenlayer group model has led fears that a poorly built cutting system can expose the entire protocol to new risks, where a single bad actor in an AVS could damage all operators.
The Eigenlayer Going Live version on Thursday, which has been tested in Ethereum developer networks since December, was designed so that operators can limit their exposure to a given AVS, which means that bad actors in one will not necessarily affect another.
“You have a unique stake attribute to an AVS in particular,” Kannan explained. “As Avs, I know that I have, as, 10 million ‘slashable’ stake that is not counted twice, so there is no influence.”
In addition, the system has been configured so that “even if my AVS has a small amount of cutting stake, it is still protected in a certain sense, by the large amount of capital,” Kannan said, since there are still systems to ensure that the cost of attacking a system increases with the total value of the restored asset group.
