ssv.network Amasses $10 Million to Transform Ethereum 2.0

Open-source and decentralized protocol ssv.network has collected $10 million to support the development of decentralized staking infrastructure for ETH 2.0.

According to information obtained by CoinQuora, the fund will enable it to attain its mission of simplifying the access to decentralized ETH staking. This will be done by enabling a secure method to split a validator key between non-trusting nodes or operators.

This new technology is crucial for solving the fundamental issues of existing large centralized exchanges, staking providers, and even highly technical at-home validators. It provides them with the stability and infrastructure required to develop liquid staking protocols, delegation services, staking pools etc. on Ethereum 2.0.

ssv.network has positioned itself as Layer 0 of Ethereum because of the enormous popularity of ETH staking alongside Ethereum’s upcoming switch to Proof-of-Stake (POS).

The technology has also provided ssv.network with strong partners during the first and second batch of its DAO Partner Program. This incentivizes large ETH stakers to join the SSV DAO, which is still ongoing.

The network has partnered with Coinbase, Digital Currency Group, Lukka, and others like Gate.io Ventures, OKEX Ventures, Lead Capital, DSRV, NGC Ventures, Forbole, with more in the pipeline.

Similarly, the network has also onboarded plenty of ecosystem partners such as Chainlayer.io, DappNode, RockX, Allnodes, Stakin, Skillz, BloxStaking, Everstake, Blocscape, Valid Blocks, Shardlabs, AMBER, Infstones, with additional companies, grants, and key figures to join. 

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• Source: https://coinquora.com/ssv-network-amasses-10-million-to-transform-ethereum-2-0/