The SSV DAO, the decentralized autonomous organization behind the SSV network of decentralized bet protocol, presented a new frame, called “SSV 2.0” on Tuesday, which will allow applications to use “based” technology by taking advantage of Ethereum’s validators.
SSV 2.0 will be the most ambitious project for the SSV Network, according to a press release shared with COINDESK, and bring applications based (BAPPS) to Ethereum.
“Based” applications, especially “cuddled based”, are a new type of technology that attracts the attention of Ethereum developers, since it allows better interoperability while improving the safety of networks in addition to Ethereum.
Currying based specifically can be seen as a solution to the many layer 2 networks in Ethereum today, which has caused a lot of fragmentation throughout the space. By taking advantage of the “based” technology, those protocols or applications can “base” their safety and execution operations of Ethereum’s Layer-1 validator.
Currently, layer 2 networks use “sequencers” to order transactions and publish them back to Ethereum. The problem with today’s sequencers is that they are still a centralizing component and can be a single failure point. When using the validators of the CAPE-1 to do the execution and safety work, the networks can avoid the falls of the use of centralized sequencers.
In addition, Ethereum developers agree that curly -based curly ones allow better network interoperability. The members of the Ethereum ecosystem have met in recent weeks to find ways to solve this problem, and the cuddles based are seen as a great advance for that.
Now the SSV network will also address these problems by carrying applications with technology based on Ethereum. According to the SSV team, BAPPS obtain “security directly from the L1 instead of using different tokens as in current rest models, which makes them more aligned by Ethereum and not expose Ethereum or their validators to cascade risks “
As part of that, the DAO suggests converting the SSV network into a BAPP. “Transforming the SSV network of a rethinking infrastructure with TVT into a multidimensional network for the based economy will require an evolution of the SSV tokenomics,” the team shared. (DVT, or distributed validator technology, refers to a type of technology that allows an Ethereum validator to run into multiple nodes simultaneously).
“This announcement marks a transformative leap for starting Ethereum safety, addressing the growing demand for interoperable solutions anchored in layer 1 (L1), as seen with the base sequencing and validator commitments based on the middle of the growing Ecosystem fragmentation, “said the SSV team in the press release.
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