Both Eigenlayer and Cosmos ICS are committed to improving the security of blockchain networks, but their implementation methods and goals differ significantly. In an article written by encryption KOL yueya, the differences between the two and their impact on the security of ETH are analyzed.
Eigenlayer is an “ecosystem” that allows users to stake ETH on multiple protocols simultaneously, providing cryptographic economic security for other protocols in exchange for protocol fees and rewards. The goal is to provide developers with access to Ethereum staking capital and decentralized validator sets. Simply put, it allows for the “locking” of ETH in multiple places, enabling rewards to be earned in multiple places, not just on ETH. In contrast, Cosmos’s ICS is a “security model” that allows validators of the hub to provide security for other chains by staking ATOM. Validators can choose to provide validation services for requested chains with ATOM delegation as collateral. To protect the sub-chains, stakers will receive additional rewards. The goal of this model is to increase the security of the Cosmos network and provide more reward opportunities for token stakers.
Cosmos’s ICS is like a security system for a large family. In this family, everyone (validators) can help protect other members of the family (other chains) by staking their ATOM tokens (equivalent to their deposit). They can choose which members to help, much like they can choose where to work. They will receive additional rewards to help protect other family members, much like they receive a salary when they work. Cosmos’s ICS is like a security system for a large family, where everyone can help protect the family through their work and be rewarded as a result. The goal of this system is to make the entire family (Cosmos network) safer and give everyone the opportunity to be rewarded.
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Does Eigenlayer affect the security of ETH itself? The answer is no, because the ETH you “lock” is still on the Ethereum network and is still protected by Ethereum. Note that any system involving staking and cross-chain interaction may bring new security risks. For example, if Eigenlayer or other protocols interacting with it have vulnerabilities, it may affect the ETH staked on Eigenlayer. In addition, if the amount of ETH staked on Eigenlayer is very large, it may affect the security of the Ethereum network because this portion of ETH will no longer directly participate in Ethereum’s consensus mechanism.
In summary, Eigenlayer and Cosmos’ ICS are both aimed at improving the security and stability of blockchain networks, but their methods and goals are different. Eigenlayer focuses more on leveraging Ethereum’s staking capital base and decentralized validator set, while Cosmos’ ICS focuses on using Cosmos Hub’s validators and ATOM stakers to protect other chains.
Reference: https://twitter.com/yueya2022/status/1671057615760269312
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