As a seasoned researcher with years of experience delving into the intricacies of blockchain technology and its applications, I find the recent developments surrounding Infura’s Decentralized Infrastructure Network (DIN) particularly fascinating. The decision to launch DIN as an Actively Validated Service (AVS) on EigenLayer is a strategic move that not only reduces development costs but also enhances the accessibility and reliability of Web3 services.
ConsenSys Ethereum validator node service Infura reveals substantial advancements in its Decentralized Infrastructure Network (DIN), planning to debut as an Active Validation Service (AVS) on the Ethereum staking platform EigenLayer.
In his statement during Devcon 2024 in Bangkok on Nov. 14, the head of product for Infura DIN, Tom Hay, expressed that by utilizing Ethereum’s financial security via EigenLayer, we are advancing DIN’s consistent development towards constructing a Web3 marketplace without permission for infrastructure services.
DIN functions as a decentralized marketplace for Web3 API services, acting somewhat like a “decentralized app store” specifically designed for blockchain infrastructure. This platform offers developers an innovative method to link with Ethereum and other prominent blockchains such as Blast, Mantle, Starknet, ZKsync, BNB Smart Chain, and Scroll.
Initiating DIN on the AVS platform provided by EigenLayer offers several advantages: it reduces development expenses, enhances the accessibility and dependability of Web3 applications, fosters collaboration among service providers, and streamlines the process of introducing new services across multiple Web3 entry points.
Sreeram Kannan, creator of EigenLayer, clarified that constructing DIN as an EigenLayer AVS facilitates ‘permissionless infrastructure deployment,’ which in turn amplifies the marketplace’s capacity, boosts its dependability, and lowers expenses.
On EigenLayer, an Actively Validated Service (AVS) functions as a versatile, decentralized tool constructed on the Ethereum blockchain. This tool offers tailored validation strategies for tasks conducted off the chain. Notably, EigenLayer is an innovative Ethereum restaking protocol that rewards users with extra incentives when they stake Ether (ETH).
A key objective when setting up this system is to establish a user-friendly, dependable, and streamlined decentralized framework specifically designed for Web3 application development, all the while capitalizing on Ethereum’s robust economic security model.
Additionally, it employs EigenLayer’s restaking feature as a method for welcoming new participants, offering them both staking and slashing safeguards, all while eliminating the necessity for projects to introduce their tokens too early in the development process.
2024 saw an incredible surge in EigenLayer’s growth, with the value locked on its re-staking protocol skyrocketing by 900% since the start of the year, reaching a staggering $13.4 billion as per DefiLlama. However, this Total Value Locked (TVL) has decreased from its peak of $20 billion in early June, showing a recent increase only with the rise in Ethereum prices during the last week or so.
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2024-11-15 07:10