EigenLayer is a decentralized protocol built on Ethereum that enables "restaking," where users can repurpose their staked Ethereum (ETH) for securing additional decentralized services. In essence, EigenLayer allows Ethereum validators and stakers to extend their economic security beyond Ethereum by staking their assets to secure other protocols. This enhances the overall security and decentralization of these additional services while allowing stakers to earn extra rewards.
The core idea behind EigenLayer is to leverage Ethereum’s existing staking system to support and scale other services in the blockchain ecosystem, such as oracles, bridges, and other Layer-2 protocols. Validators or ETH stakers can opt into EigenLayer's restaking system, agreeing to extend their staked assets as security for multiple protocols. This concept helps bootstrap the security of new decentralized services without needing them to build their own separate validator network.
EigenLayer is seen as a potential game-changer in improving the composability and scalability of blockchain infrastructure while allowing stakers to gain more utility from their locked assets.
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