Decentralized computation network ARPA announced that it has launched the EigenLayer secured actively validated service (AVS), aiming to bolster multi-chain expansion and ensure a secure, inclusive, and dynamic Web3 environment.
EigenLayer, built on the Ethereum platform, introduces restaking–a novel primitive in crypto-economic security. It comprises a set of smart contracts enabling users to voluntarily “restake” staked ETH or liquid staking tokens (LST) to initiate new proof-of-stake (PoS) networks and services within the Ethereum ecosystem, thereby earning additional staking rewards. Tools such as Randcast utilize this feature to ensure reliable random number generation.
Its architecture comprises four essential components: AVSs, restakers, operators, and AVS consumers. Among these, the ARPA BLS Threshold Signature Scheme (BLS-TSS) Network serves as an AVS, functioning as a decentralized network comprising multiple dynamic groups of nodes responsible for securely generating BLS threshold signatures.
AVS consumers or decentralized applications (dApps) submit task requests to AVSs. AVSs then seek services from operators, who receive restaked ETH or LST delegations from restakers, run specialized node software, and execute tasks. This process enhances Ethereum’s shared security for a wider developer audience.
ARPA Network utilizes Ethereum’s shared security via EigenLayer’s Dual Staking mechanism, incorporating both ARPA native staking and ETH restaking. This security framework aims to establish a more reliable environment for users. Moreover, the increased number of nodes results in higher fault tolerance and improved service quality, ensuring efficient task execution. Furthermore, EigenLayer’s optimized resource allocation enables operators to secure multiple protocols concurrently, thus boosting ARPA’s scalability and stability. This collaboration enables the network to provide a wider range of services with enhanced reliability.
The collaboration between EigenLayer, ARPA, and Randcast promotes fairness in gaming, assurance of non-fungible token (NFT) rarity, blockchain consensus, marketing campaigns, and decentralized autonomous organization (DAO) governance, with Randcast providing tamper-proof randomness to enhance various sectors. This partnership offers builders a reliable set of tools to ensure fairness and security in their projects.
ARPA Network Launches AVS On EigenLayer With Strong Operator Support
Additionally, ARPA Network announced that it has launched the ARPA Network AVS on EigenLayer, with the backing of several top-tier operator partners. These operators collectively have received over 2 million ETH, equivalent to approximately $7 billion in restaking from around 80,000 stakers.
ARPA Network is a decentralized and secure computation network designed to enhance the fairness, security, and privacy of blockchains.
Recently, the project secured a strategic investment of $6 million, with Nomura’s Laser Digital and DeFiance Capital leading the funding round. This investment will bolster product expansion efforts in areas such as fully on-chain gaming, Autonomous Worlds, and cryptographic AI.
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