SSV Network, a cutting-edge validator network built on Ethereum, has achieved a major breakthrough in the realms of restaking and staking. The platform has successfully staked one million ETH, cementing its position as a leading player in the industry. Since its launch in December 2023, the permissionless network has provided a secure and efficient platform for partners and solo stakers to distribute ETH validators and earn rewards by running nodes on the network.
The SSV Network operates on a distributed validator technology (DVT) infrastructure, which allows developers to build staking apps on top of the protocol’s open-sourced and DAO-owned infrastructure. By decentralizing validator responsibilities among trust-minimized node operators, the network promotes decentralization, resilience, and uptime.
Restaking, the latest trend in blockchain technology, enables developers to utilize a blockchain to enhance the security of decentralized applications. SSV Network can be seamlessly integrated into restaking protocols to optimize the restaking process. By securing Ethereum’s base layer, SSV Network enhances the crypto-economic security of the entire Ethereum ecosystem. Currently, their partners and integrations account for over 11,500 validators, contributing $1.2 billion out of the total $3.2 billion staked ETH.
In addition to providing enhanced security, SSV Network offers an extended incentivization program that allows users to increase their rewards by staking ETH. This milestone further establishes SSV Network as a critical infrastructure for staking and restaking, ensuring that validators are allocated to the most competent node operators within the Ethereum network.
The DVT infrastructure of SSV Network enables the geographical distribution of Eth validator nodes across multiple machines with different components. With over 700 distributed node operators worldwide utilizing various consensus and execution clients, as well as MEV relays and infrastructure types, users benefit from increased flexibility and resilience compared to traditional non-DVT staking platforms.
Integrations with SSV Network include notable platforms such as Lido Finance, Ether.fi, P2P.org, and Renzo, which have a significant number of validators spread across the network.
A team member from SSV Labs, a contributor to SSV Network, expressed their anticipation that reaching the milestone of one million staked ETH will further drive platform adoption and solidify SSV Network’s position as a top player in the staking and restaking validator ecosystems.
Lastly, SSV Network has unveiled its revised scaling roadmap, aiming to reduce the hardware requirements for node operators. The platform is transitioning from a recommended 4-core CPU to an 8-core CPU, which may increase hardware expenses for node operators. However, SSV Labs is actively working on solutions to reduce hardware needs by 75-90% within the next 12 months.