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SSV Network proposed a new betting module without permission for Lido, with the aim of improving decentralization and rethinking infrastructure for institutional participants.
SSV Network proposed a betting module without permission that takes advantage of the SSV distributed validator technology (DVP) to integrate nodes (NS) operators in the set of Lido operators in ethereum.
If approved, the proposal I would add the first third parties module for the Lido betting, further decentralizing the set of nodes using Lido, according to a March 4 announcement shared with Cointelegraph.
SSV network proposal. Source: Lido
By taking advantage of SSV Network TVP, the new rethinking module aims to improve the accessibility and security of the reference, according to Alon Muroch, the founder and CEO of SSV Labs, a central taxpayer to the SSV network.
The module can further increase the set of lido node operators and improve the mitigation of rethinking risks, he told Cointelegraph, added:
“For us, a path without permission to execute a stake for Lido, as well as a perfect way to integrate the DVP, strengthen its own operations.”
“For ethereum, having more bets pierced to the DVT makes ethereum more resistant and decentralized (different geographies, customers and infra configurations),” he added.
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The proposal occurs three weeks after the debut of Lido V3, an update designed to offer greater flexibility and composition for Ether institutional participants (eth).
The rethinking infrastructure still needs a significant improvement to attract more participation of large financial institutions.
“The current infrastructure still has risks such as failure points and coordination problems,” Muroch said, added:
“Through the use of SSV, the coordination is cared for programmatically (for example, the use of DKG), which reduces human error, and when using the DVP, institutions can increase performance and reduce the risk of inactivity time by distributing nodes between multiple nodes instead of depending on a single node.”
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“TVP helps eliminate the rethinking process and provides an option aligned by eth for players who are aware of additional risk,” he added.
Source: SSV Network explorer
SSV Network currently obtains more than 2 million in Ether states, with a value of more than $ 4.7 billion, more than 1,400 nodes from distributed worldwide, SSV Network explorer shows.
Ultimately, the SSV network proposal aims to benefit the decentralization of ethereum Mainnet, said Elad Gafini, operations manager of the SSV Foundation, added:
“The SSV Network Foundation welcomes the growing adoption of our infrastructure without permission, which expands access to ethereum's participation and reinforces the decentralization of ethereum.”
“This proposed module marks a critical step towards a safe and reliable participation for all in the rethinking ecosystem,” he added.
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