NodeDAO - DVT Solution for Ethereum
NodeDAO and SSV.Network to build complete DVT Solution for Ethereum
NodeDAO, a prominent staking solutions provider, with more of TVL of 50million USD, has teamed up with ssv.network, a decentralized Ethereum staking infrastructure, to integrate Distributed Key Generation (DKG).
Staking secures the Ethereum blockchain, but it's mostly controlled by a few big players. This raises concerns about centralization.
SSV.Network is launching a new system to make staking more decentralized. They achieve this by splitting the responsibility of running a validator across multiple parties.
This allows more people to participate in staking without trusting a single entity or dealing with complex setups.
Overall, SSV.Network aims to make staking fairer and more accessible for everyone.
Overview of Collaboration
The partnership between NodeDAO and ssv.network signifies a significant milestone in Ethereum staking, aiming to introduce the industry's first comprehensive DVT solution. Leveraging NodeDAO's expertise in staking and ssv.network's established presence on the testnet, the collaboration promises to deliver a robust solution after months of collaborative effort.
Understanding DVT Solution
The DVT solution encrypts and distributes validators’ private keys among participants using the DKG protocol. This approach allows validators to be co-run by multiple operators without exposing their keys to any single entity. Additionally, the Resharing Protocol ensures secure redistribution of keys among different parties, while the blame mechanism identifies dishonest parties to prevent potential attacks.
Expected Launch and Benefits
Anticipated to launch in the first half of 2023, the DVT solution addresses security concerns posed by Ethereum's updated blockchain while promoting decentralization. By enabling multiple node operators to jointly run a validator, the solution enhances robustness and fault tolerance, mitigating risks associated with system downtime or infrastructure issues. Moreover, it fosters greater decentralization in Ethereum staking by preventing any single entity from controlling the majority of validators.
NodeDAO integrates SSV Network's validator management services. For the initial phase there
SSV Scheme:
This scheme facilitates the launch of validators, which is pivotal in enhancing validator reliability and advancing the decentralization of Ethereum validators.
NodeDAO is poised to integrate SSV DKG (Distributed Key Generation) into its operations to enhance its staking infrastructure and services. Here's how NodeDAO plans to integrate SSV DKG:
Selection of SSV Operators: NodeDAO will be responsible for selecting SSV operators to participate in the DKG process. These operators will play a crucial role in generating the necessary key shares for Ethereum validator registration.
Bearing SSV Costs: NodeDAO will cover the costs associated with SSV operations, including those related to the DKG process. This ensures that the integration of SSV DKG into NodeDAO's infrastructure is financially sustainable.
Orchestrating the DKG Process: NodeDAO will orchestrate the entire DKG process, overseeing the initiation of the ceremony and facilitating communication between operators. This involves coordinating the exchange of data and ensuring that the DKG protocol is executed smoothly.
Managing Verifier Deposits: As part of the DKG process, verifier deposits may be required. NodeDAO will manage these deposits, ensuring that they are handled securely and in compliance with the protocol.
Coordinating Verifier Exits: In addition to managing deposits, NodeDAO will coordinate verifier exits when necessary. This involves handling the withdrawal of deposits and ensuring that validators exit the network gracefully.
Additional Features:
NodeDAO will showcase the performance of the ssv operators and highlight the performant clusters.
About NodeDAO and SSV.network
NodeDAO offers decentralized blockchain staking liquidity services, including Ethereum staking. It operates as a smart contract for next-generation derivatives, featuring permissionless drivers, re-staking, and distributed validation mechanisms.
SSV.network operates as a fully decentralized Ethereum staking network, leveraging Secret Shared Validator (SSV) technology to enhance validator key security and promote decentralization. It benefits Ethereum stakeholders, including staking pools, services, and solo stakers, by providing active-active redundancy and robust security measures.
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