SSV Network has achieved a significant milestone by reaching 40,000 validators on the Ethereum mainnet. This marks a major step in its mission to enhance Ethereum’s staking infrastructure. Additionally, over 4,000 swETH validators have been successfully onboarded to the SSV Network. Further, it will strengthen its role in the Ethereum ecosystem.
SSV has now reached 40,000 validators on Ethereum mainnet 🫡https://t.co/hUfaEQybYO pic.twitter.com/WI08l3YPmV
— SSV Network (@ssv_network) August 9, 2024
SSV Network Advances Decentralized Ethereum Staking with DVT
SSV Network will play a crucial role in the advancement of decentralized Ethereum staking and restaking solutions. It incorporated Distributed Validator Technology (DVT) that enhances the staking process’s sustainability and security on the Ethereum network. Transferring all the staked ETH to DVT makes it possible for SSV Network to achieve scalability without compromise on the staking mechanism.
What sets the SSV Network apart is that it is an open-source project funded by the community, further underlining its belief in decentralization. This openness also assists in the broaden participation and promoting of the use of the technology in the Ethereum public.
SSV Network to Enhance Decentralized Ethereum Staking
Additionally, as the SSV Network further develops it is anticipated to add additional Ethereum compatible staking networks that are even more decentralized and secure. So it is not only a reflection of this network at work but also shows that they are working to advance the Ethereum infrastructure long term.
Last but not least, SSV Network is constantly updating its staking technology which contributes to the wellness and capability of scaling of Ethereum blockchain.