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0xAliScroll.io: A Native zkEVM Scaling Solution for Ethereum
IntroEthereum is the most popular and widely used smart contract platform in the world. It enables developers to create decentralized applications (DApps) that run on a global network of nodes without intermediaries or censorship. However, Ethereum also faces some challenges, such as scalability, high gas fees, and long confirmation times. These issues limit the potential of Ethereum to support more users and use cases. To address these challenges, many projects have been working on scaling s...
0xAliZigZag New Features on the Way
ZigZag Exchange is a decentralized orderbook exchange that uses ZK-Rollup technology to provide fast, cheap and secure trading on Ethereum. ZigZag was the first project to launch on zkSync 1.0 mainnet, now zkSync Lite, in November 202112. Since then, ZigZag has been offering its users a smooth trading experience with minimal slippage and thick orderbooks3. ZigZag also participated in one of the biggest airdrops in crypto history, rewarding its early users with ZKS tokens4.$ZZ/$USDC Market/Lim...
0xAliSmart Contracts: Get deep
What Are Smart Contracts? Smart contracts are self-executing contracts with the terms of the agreement directly written into lines of code. They are computer programs that automate the execution and enforcement of agreements between parties. Smart contracts are typically stored on a blockchain network, which ensures their transparency, security, and immutability.When certain predetermined conditions are met, smart contracts automatically execute the agreed-upon actions without the need for in...
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0xAliScroll.io: A Native zkEVM Scaling Solution for Ethereum
IntroEthereum is the most popular and widely used smart contract platform in the world. It enables developers to create decentralized applications (DApps) that run on a global network of nodes without intermediaries or censorship. However, Ethereum also faces some challenges, such as scalability, high gas fees, and long confirmation times. These issues limit the potential of Ethereum to support more users and use cases. To address these challenges, many projects have been working on scaling s...
0xAliZigZag New Features on the Way
ZigZag Exchange is a decentralized orderbook exchange that uses ZK-Rollup technology to provide fast, cheap and secure trading on Ethereum. ZigZag was the first project to launch on zkSync 1.0 mainnet, now zkSync Lite, in November 202112. Since then, ZigZag has been offering its users a smooth trading experience with minimal slippage and thick orderbooks3. ZigZag also participated in one of the biggest airdrops in crypto history, rewarding its early users with ZKS tokens4.$ZZ/$USDC Market/Lim...
0xAliSmart Contracts: Get deep
What Are Smart Contracts? Smart contracts are self-executing contracts with the terms of the agreement directly written into lines of code. They are computer programs that automate the execution and enforcement of agreements between parties. Smart contracts are typically stored on a blockchain network, which ensures their transparency, security, and immutability.When certain predetermined conditions are met, smart contracts automatically execute the agreed-upon actions without the need for in...
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Intro
EagenLayer Technology is a groundbreaking blockchain protocol that introduces a novel concept: the restaking of cryptocurrency. This innovative approach extends the security of blockchain applications, providing a robust and flexible solution for users and developers alike.
At its core, EagenLayer operates through smart contracts. Users stake their cryptocurrency, which can then be repurposed to validate other applications built on the network. This process of restaking not only enhances security but also optimizes the use of staked assets.
The true potential of EagenLayer lies in its ability to aggregate and scale crypto-economic security. By creating an opt-in layer, users can grant additional enforcement rights on their staked crypto. This allows the staked assets to be "restaked" onto other applications, thereby extending their security capabilities.
EagenLayer's design is such that staked crypto can provide validation services beyond the native blockchain. This restaking process optimizes security by pooling fragmented stakes into a unified platform. It also reduces costs as stakes can be rehypothecated across multiple applications, generating more revenue.
One of the key features of EagenLayer is the creation of a free market for security. Applications can purchase pooled security from validators, and validators can sell to applications. This market-based approach removes inefficiencies and fosters a more secure and robust blockchain ecosystem.
Who are the founders of EigenLayer?
The founder of EigenLayer is Sreeram Kannan, who is also an associate professor at the University of Washington, Seattle. He founded EigenLabs in 2021 and launched EigenLayer on testnet in 2023. He has a background in peer-to-peer wireless networks and blockchain technology.
What are the benefits of EigenLayer?
Some of the benefits of EigenLayer are:
It provides cheaper and higher bandwidth than the Ethereum mainnet1.
It increases the interoperability of protocols on Ethereum and thus the rate of innovation.
It attracts more capital into the Ethereum ecosystem to take advantage of the extra yield.
It increases security for protocols that can leverage the mainnet by using EigenLayer.
It reduces the capital cost for protocols that need to bootstrap their own validator set.
It allows users to restake their ETH and receive double staking yield from both Ethereum and other protocols.
What are the risks of EigenLayer?
Some of the risks of EigenLayer are:
Collusion risk: Many operators could collude to attack a set of AVSs at the same time and compromise their security.
Slashing risk: Users who restake their ETH could face slashing penalties from both Ethereum and the AVSs they secure, depending on their restaking method and the slashing conditions of each protocol.
Single point of failure risk: EigenLayer receives the withdrawal credentials from ETH stakers. If it is exploited and has a significant amount of ETH staked, this creates a systemic risk for the mainnet.
Centralization risk: If many stakers secure one app and get slashed, that could have bad consequences for Ethereum.
ReStaking Primitive
EigenLayer restaking primitive is a new mechanism in crypto-economic security that allows users to reuse their staked ETH or liquid staking tokens (LST) on the consensus layer. Users who stake ETH can opt-in to EigenLayer smart contracts to restake their ETH and extend security to other applications built on the network, such as bridges, data availability layers, oracles, etc. By doing so, they can earn additional rewards from both Ethereum and the applications they secure. However, they also face additional slashing risks from both layers. Restaking is a novel way of rehypothecating staked ETH and creating a marketplace for decentralized trust.
conclusion
EagenLayer Technology is a pioneering solution in the blockchain space. By enabling the restaking of cryptocurrency, it enhances security, optimizes resource use, and fosters a free market for security. As blockchain technology continues to evolve, EagenLayer is poised to play a significant role in shaping its future.
Intro
EagenLayer Technology is a groundbreaking blockchain protocol that introduces a novel concept: the restaking of cryptocurrency. This innovative approach extends the security of blockchain applications, providing a robust and flexible solution for users and developers alike.
At its core, EagenLayer operates through smart contracts. Users stake their cryptocurrency, which can then be repurposed to validate other applications built on the network. This process of restaking not only enhances security but also optimizes the use of staked assets.
The true potential of EagenLayer lies in its ability to aggregate and scale crypto-economic security. By creating an opt-in layer, users can grant additional enforcement rights on their staked crypto. This allows the staked assets to be "restaked" onto other applications, thereby extending their security capabilities.
EagenLayer's design is such that staked crypto can provide validation services beyond the native blockchain. This restaking process optimizes security by pooling fragmented stakes into a unified platform. It also reduces costs as stakes can be rehypothecated across multiple applications, generating more revenue.
One of the key features of EagenLayer is the creation of a free market for security. Applications can purchase pooled security from validators, and validators can sell to applications. This market-based approach removes inefficiencies and fosters a more secure and robust blockchain ecosystem.
Who are the founders of EigenLayer?
The founder of EigenLayer is Sreeram Kannan, who is also an associate professor at the University of Washington, Seattle. He founded EigenLabs in 2021 and launched EigenLayer on testnet in 2023. He has a background in peer-to-peer wireless networks and blockchain technology.
What are the benefits of EigenLayer?
Some of the benefits of EigenLayer are:
It provides cheaper and higher bandwidth than the Ethereum mainnet1.
It increases the interoperability of protocols on Ethereum and thus the rate of innovation.
It attracts more capital into the Ethereum ecosystem to take advantage of the extra yield.
It increases security for protocols that can leverage the mainnet by using EigenLayer.
It reduces the capital cost for protocols that need to bootstrap their own validator set.
It allows users to restake their ETH and receive double staking yield from both Ethereum and other protocols.
What are the risks of EigenLayer?
Some of the risks of EigenLayer are:
Collusion risk: Many operators could collude to attack a set of AVSs at the same time and compromise their security.
Slashing risk: Users who restake their ETH could face slashing penalties from both Ethereum and the AVSs they secure, depending on their restaking method and the slashing conditions of each protocol.
Single point of failure risk: EigenLayer receives the withdrawal credentials from ETH stakers. If it is exploited and has a significant amount of ETH staked, this creates a systemic risk for the mainnet.
Centralization risk: If many stakers secure one app and get slashed, that could have bad consequences for Ethereum.
ReStaking Primitive
EigenLayer restaking primitive is a new mechanism in crypto-economic security that allows users to reuse their staked ETH or liquid staking tokens (LST) on the consensus layer. Users who stake ETH can opt-in to EigenLayer smart contracts to restake their ETH and extend security to other applications built on the network, such as bridges, data availability layers, oracles, etc. By doing so, they can earn additional rewards from both Ethereum and the applications they secure. However, they also face additional slashing risks from both layers. Restaking is a novel way of rehypothecating staked ETH and creating a marketplace for decentralized trust.
conclusion
EagenLayer Technology is a pioneering solution in the blockchain space. By enabling the restaking of cryptocurrency, it enhances security, optimizes resource use, and fosters a free market for security. As blockchain technology continues to evolve, EagenLayer is poised to play a significant role in shaping its future.
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